Asset Division Lawyer in Jackson
Jackson, New Jersey Divorce Attorney: Asset & Debt Division
This is often referred to as division of the marital assets. Asset and debt division is usually only concerned with division of property and debts accumulated since date of the marriage. Since New Jersey is an equitable distribution state the assets acquired during the course of the marriage are to be divided in a fair and equitable fashion. Any pre-nuptial or post-nuptial agreements can also affect the outcome. Property owned by one party or the other prior to the marriage and inheritances received by one party are exempt provided the property or inheritance was kept separate from the marital assets. For answers to specific questions and assistance in achieving an equitable division, consult a Jackson divorce attorney.
Asset Division & Debt Division in a Jackson Divorce
Establishing which assets and debts are marital property and which are separate property should be the first step. Once this is established it will be necessary to determine the value of the various assets and debts, usually as of the filing date of the Complaint for Divorce. Appraisers, accountants and other experts can be used to ensure all the assets and liabilities are correctly valued. The surest way to the best outcome is for the couple to agree upon the value of the assets and how they want to divide the marital property.
If this proves difficult, mediation or arbitration are options which have proven workable to avoiding a trial. If the decision must be place in the hands of the court, the court must consider a number of factors under N.J.S.A: 2A: 34-23.1. A skilled divorce lawyer will work with you to guide you through the process and ensure your rights are protected.
Once the court has ruled on the distribution of assets it is binding. Before you begin the process of dividing your debts and assets, you should talk with an experienced divorce lawyer at The Law Office of Rachel S. Cotrino, LLC to ensure you fully understand your rights.
Do you have questions about asset and debt division? Contact a Jackson asset division lawyer for the knowledgeable assistance you need to achieve a fair and equitable distribution of your marital assets.