Ocean County Family Lawyers Advise on the Division of Marital Property
Toms River firm handles matters under New Jersey’s equitable distribution law
Once a couple is wed, practically every asset or debt acquired by either spouse becomes part of the divisible marital estate unless they have a valid legal agreement that says otherwise. In a divorce, all of the marital property must go to either one party or the other under New Jersey’s equitable distribution law. The attorneys at Rehrer & Rehrer in Toms River work on behalf of divorcing spouses throughout the Ocean County area to negotiate appropriate settlements. In the event that consensus is not possible, the equitable distribution standard requires judges to distribute marital property based on what they think is fair, though that might not mean an equal split. Our attorneys have the necessary knowledge and familiarity with New Jersey’s property division laws to help you obtain a favorable resolution.
Defining marital and separate assets
Before the actual distribution of the property in a divorce, your lawyer will need to determine what property will be distributed and the value of said property. Equitable distribution states classify property as either “marital property,” assets acquired during the marriage and available for distribution, or “separate property,” assets acquired prior to the marriage and exempt from division. The same standard applies to debts, so if you or your spouse had an individual obligation prior to your marriage, that debt fully remains with that party when the marriage ends. Our divorce attorneys have the necessary familiarity with New Jersey’s equitable distribution laws to distinguish between marital and separate property. We also have the skill to trace the commingling of separate assets with marital assets, prevent unfair distribution and ensure that no assets or debts are overlooked.
What to expect during the property division process
No one knows more about marital property than the spouses themselves, so we strive to work out property division matters without having to turn the decision over to the court. While dividing funds from a bank account might be fairly straightforward, ownership of a business or possession of an item with great sentimental value could involve complex considerations that would be unfamiliar to a judge. Remember that marital property may include anything you have that could be considered an asset, such as:
- Stocks and bonds
- Automobiles
- Bank accounts
- Investment accounts, pension assets, annuities and retirement funds
- Marital residence and vacation homes
- Home furnishings
- Timeshares
- Business ownership
Regardless of the specific assets at issue, we strive to relieve the stress and work to achieve a positive resolution. Our experience has made us highly proficient at reaching settlements through negotiation and mediation, which allows spouses to maintain control over the outcome. But even if you and your ex are unable to agree on the split of marital property, we can advocate for a fair resolution before the court so that you can move forward on a solid financial foundation.
Divorces involving potentially hidden assets
While many property division negotiations are conducted fairly, there are instances where a spouse attempts to gain an advantage by concealing certain assets or making questionable transfers prior to their divorce. If you’re going through a divorce and suspect that your spouse is not being forthcoming about their finances, or if you’ve learned that a previously entered dissolution order was based on fraudulent representations by your ex, we are here to help.
Contact a reliable New Jersey divorce lawyer to discuss your equitable distribution issue
Rehrer & Rehrer Attorneys at Law handles equitable distribution matters and all other aspects of divorce for clients in Ocean County and nearby areas. Please call 848-480-1527 or contact us online to schedule a consultation at our Toms River office.
