Equitable Distribution Attorneys Near You in New Jersey
The end of a marriage is often an emotionally and financially challenging time. The added stress of dividing assets and debts can make it even more difficult. In New Jersey, courts apply the concept of equitable distribution in divorce, but it doesn’t necessarily mean that property is divided 50/50.
At Sarno da Costa D’Aniello Maceri Webb LLC, we know that protecting your financial well-being and future are top priorities. Our family law team, led by Angelo Sarno, includes experienced equitable distribution lawyers you can trust. We help you understand how the law may impact your case and provide the tenacious, compassionate representation you need to achieve a fair outcome.
Understanding Equitable Distribution in New Jersey
Equitable distribution is the system New Jersey uses to divide marital property when a couple divorces. However, it’s vital to understand that “equitable” does not mean “equal.” Instead of an automatic 50/50 split, a judge determines a fair division based on the unique circumstances of the marriage and each spouse’s present and future financial needs.
This system is very different from the community property method used in a handful of other states, which generally mandates an exact 50/50 split. Equitable distribution enables the court to carefully consider various factors and arrive at a fair resolution that’s appropriate for each couple’s unique situation.
Marital Property vs. Separate Property: An Important Distinction
To fully understand how property division works in a New Jersey divorce, it’s important to know which property is subject to equitable distribution. Marital property includes all assets and debts you or your spouse acquired from the date of marriage until the filing of the divorce complaint. In many cases, it includes a couple’s home, vehicles, bank accounts, pensions, and investments. Only marital property is considered by a judge when determining how to divide assets.
What Is Considered Separate Property?
The law protects separate property, which is anything one spouse solely owned before the marriage or acquired during the marriage through non-marital means.
Examples of separate property include:
- Inheritance, gifts, and lottery winnings
- Property acquired with premarital assets, such as real estate purchased using funds you had before the marriage
- Property established as separate in a legally binding agreement, such as a prenuptial agreement
Navigating these distinctions can be emotionally draining and legally complicated, especially when so many assets are commingled or a couple is involved in a family business. A dedicated equitable distribution lawyer can identify and clearly categorize your property so you can protect what’s rightfully yours.
Business Ownership in Divorce
If someone owns a business before they get married, it is initially considered separate property. However, the value it gains during the marriage may be subject to equitable distribution.
For example, if a spouse owned a business valued at $300,000 when they got married, that initial $300,000 is considered separate property. However, if the business grew and is valued at $700,000 when they filed for divorce, the court may determine that the $400,000 increase in value is marital property. This means that the $400,000 could be subject to equitable distribution.
Determining the enhanced value of a business is a complex process. Our equitable distribution lawyers work closely with forensic accountants and other professionals to ensure the accurate valuation of your business.
Factors Considered in New Jersey Property Division
The court has broad discretion in determining what is equitable in New Jersey divorce cases. Our equitable distribution lawyers have decades of experience in the family court system and understand the nuances of property division.
A judge considers various factors before dividing assets in a divorce, including:
- Length of the marriage
- Age of each spouse
- Physical and emotional health of each spouse
- Property each spouse brought into the marriage
- Income and financial situation of each spouse at the time of the divorce
- Standard of living established during the marriage
- Any written agreement, such as a prenuptial, postnuptial, or reconciliation agreement
- Child custody and parenting time, including whether a parent needs to remain in the marital residence for the benefit of the children
- Financial and non-financial contributions of each spouse, including homemaking and raising children
- The tax consequences of the proposed distribution
- Other factors specific to the situation
Presenting a comprehensive picture of your financial circumstances to a judge is vital. Our family law attorneys investigate, gather and present evidence, and build compelling arguments to support your claim for a fair division of property.
Resolving Property Division Outside of Court
Dealing with property division in court can be contentious, emotionally exhausting, and financially draining. Although a judge must approve a final divorce settlement agreement, litigation should always be a last resort.
Resolving asset division through negotiation, mediation or arbitration instead of going to court typically puts you and your spouse in control of the final outcome. Our equitable distribution attorneys prioritize a settlement-oriented approach to minimize the financial and emotional toll of divorce.
Working with our experienced equitable distribution attorneys to craft a truly mutually beneficial agreement can empower you and lead to an outcome a judge may not have the flexibility to achieve. This approach can result in a more private, predictable, and fulfilling resolution while safeguarding your financial future.
Why Choose our New Jersey Equitable Distribution Lawyers?
We understand that dividing your life’s savings and property can be daunting. When the stakes are high, you need experienced, dedicated legal counsel you can trust. When you choose Sarno da Costa D’Aniello Maceri Webb LLC, you’re not just hiring experienced divorce lawyers. You’re partnering with a caring team of professionals dedicated to protecting your future.
When you hire our equitable distribution attorneys you get:
- Guidance for emotional and financial stability— Our family law attorneys meticulously investigate to ensure every asset debt is accurately valued and categorized. We also prioritize a settlement-oriented approach to reduce conflict and mitigate the emotional and financial costs of divorce.
- Specialized credentials you can trust—Angelo and other members of our team hold the prestigious title of certified matrimonial law attorneys. This is a designation afforded to a small percentage of attorneys in New Jersey who demonstrate exceptional knowledge of family law and a proven track record of success in handling complex cases. Sarno da Costa D’Aniello Maceri Webb LLC has also been selected our peers for inclusion in Best Lawyers® in the fields of Family Law, Family Law Mediation, Mediation, and Arbitration – Plaintiffs.
- Clear, supportive communication—Our dedicated attorneys and staff ensure you’re never left guessing about the strategy or status of your case. We provide the peace of mind you need and deserve to confidently move on to the next phase of your life.
Contact a Trusted Equitable Distribution Lawyer Near You in New Jersey
Dealing with property division in a divorce can be overwhelming, but you don’t have to face it alone. At Sarno da Costa D’Aniello Maceri Webb LLC, we’re committed to protecting your rights and your financial security. To schedule a consultation with an equitable distribution attorney near you in New Jersey, contact us or call 973-274-5200 We offer several convenient locations near you in Roseland, Bridgewater, Hackensack, Morristown, and Eatontown, NJ.
Frequently Asked Questions About Equitable Distribution in New Jersey
Is New Jersey a community property state?
No. New Jersey is an equitable distribution state, which means courts seek a fair, but not necessarily equal, division of marital assets and debts.
How long will the property division process take?
The duration of divorce cases varies widely, depending on the complexity of the marital estate and whether the parties can reach a settlement outside of court.
Is debt divided in a divorce?
Yes. Debts acquired jointly during marriage are generally considered marital debt and are subject to equitable distribution, just like assets.
