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Separating Assets During a NJ Divorce; Who Wants What, Who Gets What

WEINER LAWInsightsDivorceSeparating Assets During a NJ Divorce; Who Wants What, Who Gets What

Separation of Assets During Divorce

The dissolution of a marriage can be painful, and the decisions to be made during a divorce can be difficult. The welfare of the children, if any, and the equitable distribution of property, are real issues that must be resolved, hopefully in a way that is satisfactory for all parties.

Experts in New Jersey divorce law

These and other weighty matters are often best handled with good counsel. Tanya Freeman, a divorce law litigator at the Weiner Law Group, is well versed in New Jersey divorce issues. She has the experience and expertise needed to navigate the intricacies that divorce entails, and will work to ensure your best interests are met.

New Jersey applies the concept of “equitable distribution” regarding the distribution of the couple’s marital property. Couples can negotiate their own property divisions either independently, or with the help of attorneys or a mediator. New Jersey courts also provide various programs for divorcing couples to assist them in resolving property disputes. If all else fails, a judge or arbitrator may make the final decision.

What are examples of marital property?

Marital property includes assets and debts accumulated during marriage. While the type and amount of property is unique to each marriage, marital property generally includes:

  • Any real estate you may own (homes, business and investment properties)
  • Money (cash, checking/savings accounts)
  • Investments (certificates of deposit, stocks, savings bonds, etc.)
  • Assets from a spouse’s business
  • High-value household items (jewelry, collections, furniture, crystal, artwork, etc.)
  • Pensions, profit-sharing plans, stock options, and other retirement and employment benefits
  • Social Security benefits
  • All vehicles (including automobiles, motorcycles, boats, aircraft)
  • Debts

If a judge needs to decide on separation of assets, what are the considerations?

There are many factors that go into deciding the distribution of a couple’s assets.  In addition to the couple’s collective assets and debts, a judge will consider such things as the length of the marriage, each partner’s health and age, if there was a pre-nuptial agreement, the spouse’s income and ability to earn, responsibilities in caring for the children and other matters.

The separation of assets can be a knotty problem, with so many factors to address, and so many disagreements that may occur. Complex legal matters require experienced litigators to represent you. Tanya Freeman and the divorce law attorneys at Weiner Law Group (www.weiner.law) serve clients throughout New Jersey. They stand ready to help ensure that separation of assets during a divorce is equitable and fair. Contact us to learn more.