Issues of equitable distribution of assets and liabilities arise in virtually every divorce or dissolution case.
New Jersey Equitable Distribution Lawyers
Unlike other states that are commonly referred to as "community property" states, wherein all marital property is divided equally by and between the parties, New Jersey employs the concept of "equitable distribution." This flexible concept allows the Court to consider all of the relevant facts which bear upon an economic distribution of includable assets and liabilities. The courts in New Jersey endeavor to create a distribution plan which will be fair and equitable to both parties. Our experienced Equitable Distribution attorneys are available to handle cases in Middlesex County, Monmouth County, Ocean County, Mercer County, Union County, Somerset County, Hudson County, Essex County, Morris County, and Hunterdon County.
Many collateral issues arise incidentally to equitable distribution of marital assets and liabilities. These issues include determining which assets and liabilities are subject to distribution by the Court, methods to arrive at accurate values of these assets and liabilities, the dates upon which these assets and liabilities should be valued, and the formulation of an overall plan resulting in a fair and equitable distribution of these assets and liabilities.
No two cases are alike; the assets and liabilities acquired or incurred by any couple are distinct and unique. For example, you may have assets which existed prior to the marriage (premarital assets) that may be excluded from distribution, or, if comingled or placed in joint names, may be divided differently than an asset that accumulated entirely during the marriage.
You should consider the impact of if/when the Complaint for Divorce was/is filed or if there is a way to agree upon a date of financial separation, for purposes of ensuring that contributions after that date are excluded from distribution. Moreover, your case may involve gifts from family members that resulted in a significant increase in value of an asset, for example, an addition to the marital home paid for by a family member or through an inheritance.
Given the amount of discretion afforded to the Court, there is absolutely no substitute for relying on an experienced Family Law attorney when navigating the division of property. Issues involving equitable distribution of assets and liabilities can run from the routine, such as distribution of household furnishings and electronics, to the complex, such as distribution of closely held business interests or stock options. You may benefit from our help in determining whether a forensic accountant is needed to complete a business valuation, or a pension valuation is necessary, and/or an appraisal of the marital home, sports memorabilia, coin collection and/or art collection is needed.
The Equitable Distribution attorneys at Hoagland Longo will handle your case on a personal basis leveraging the unparalleled resources of a large law firm. We have the resources, skill, education, and experience to handle all types of cases, ranging from the simple to the complex.