Equitable Distribution Attorney in Wall Township, NJ Advocates for Clients’ Right to Their Fair Share of Marital Property During Divorce in Monmouth County, Ocean County, Middlesex County, Mercer County, and Beyond
Couples who get divorced must untangle their finances, which includes splitting up their marital property and debts. However, when money comes into the equation, disputes can arise. You are entitled to your fair share of the wealth you and your ex have built during your marriage. Let a New Jersey property division lawyer from LaBletta & Walters LLC advocate on your behalf. Our attorneys recognize that you need a lawyer who will provide practical legal representation in a cost-effective manner. We have the experience and knowledge to offer excellent legal counsel that can help you navigate the complexities of property division.
If you’re getting divorced, you deserve experienced legal representation to help you protect your financial interests in property division. Contact us for a confidential consultation to discuss your legal options with an equitable distribution attorney in Wall Township, NJ.
What Is Marital Property?
During divorce, spouses must divide their marital property between themselves. In most cases, property acquired during your marriage will qualify as marital property, even if an asset is titled only in one spouse’s name. In addition, the growth in value of assets may also qualify as marital property under certain circumstances. However, some assets will be considered “separate” property, not subject to division in divorce. Examples of separate property include assets you owned before your marriage, property given to you during your marriage as a separate, exclusive gift, and any inheritances you receive during your marriage.
However, it is possible to commingle your separate property and turn some or all its value into marital property. For example, if you owned a residence before your marriage but after getting married you and your spouse contribute towards the home’s mortgage, property taxes, and maintenance costs, then a portion of the property’s value may qualify as marital property. Or if you receive an inheritance during your marriage and use that towards the purchase of a marital home, your inheritance may be converted into marital property.
Many disputes over property division in divorce focus on whether assets qualify as marital or separate property. Let a New Jersey property division lawyer from LaBletta & Walters LLC advocate for your financial interests.
How Do Courts Decide Equitable Distribution?
Although spouses may negotiate a settlement that resolves the division of marital properties and debts, they can submit unresolved disputes to the court during divorce proceedings. Courts consider several statutory factors in reaching a determination on the question of equitable distribution:
- The duration of the marriage
- The age and health of the spouses
- The income and assets brought by each spouse to the marriage
- The standard of living during the marriage
- Any written agreements made before or during the marriage concerning the division of property
- Each spouse’s economic situation before any property division
- The income or earning potential of each spouse, factoring in their education, training, employment skills, work experience, length of absence from the workforce, parental responsibilities, and the time and expense that may be needed for either spouse to acquire the education or training necessary to become self-sufficient at a standard of living comparable to that enjoyed during the marriage
- Each spouse’s contribution to the other’s education, training, or professional advancement
- The contribution of each spouse to the acquisition, preservation, appreciation, depreciation, or dissipation in value of marital property, including contributions as a homemaker
- The tax consequences of any proposed division
- The present value of marital assets
- The spouses’ debts and liabilities
- The need for either spouse with primary physical custody of the couple’s children to own or occupy the marital residence
- The need, now or in the future, for a trust fund to secure educational and medical costs for a spouse or the couple’s children
- The extent to which either spouse deferred their educational and professional development
Turn to a New Jersey Property Division Lawyer to Help You Protect Your Financial Interests
Dividing marital property and debts in divorce often triggers fierce disputes between separating spouses. Everyone wants their fair share of the wealth they helped to build during marriage. Let an equitable distribution attorney in Wall Township, NJ from LaBletta & Walters LLC advocate for your financial interests and future by:
- Helping you gather financial records to document your assets and liabilities, including bank statements, brokerage/retirement account statements, property deeds, and vehicle titles
- Thoroughly investigating your family’s financial situation, including if you suspect your spouse may have concealed assets or income
- Reviewing the terms of your pre/postup (if any)
- Advising you and advocating on your behalf if you choose to negotiate a property division with your spouse
- Presenting compelling arguments in court if you need to hold a trial on equitable distribution
Contact LaBletta & Walters LLC for a Confidential Consultation with an Equitable Distribution Attorney in Wall Township, NJ to Discuss Dividing Your Marital Property in Divorce
If you’ve decided to get a divorce, you deserve a fair share of the property and wealth you and your spouse have built. Let a New Jersey property division lawyer from LaBletta & Walters LLC fight for your rights and interests. Contact us today for an initial case evaluation to learn how our firm can help you prepare for the next stage of your life.