Bergen County Property Division Lawyers

Dividing property is among the most hotly-contested issues in divorce. For this reason, having a team of skilled property division lawyers in your corner is paramount. The Bergen County divorce lawyers at Feitlin, Youngman, Karas & Gerson, LLC stand ready to effectively fight for your hard-earned assets and ensure your rights are protected, every step of the way. Contact us today.

Property Division Lawyers Serving Northern Jersey

Equitable distribution refers to how assets acquired during a marriage are divided when a couple divorces. This includes household items, vehicles, retirement accounts, real estate, and any other property accumulated during the marriage.

Typically, assets are valued from the date of marriage until the filing of a divorce complaint, although couples may agree to different valuation dates. Disagreements over specific assets can increase tension and legal costs, especially when emotions like spite drive decision-making.

It’s important to understand that “equitable” does not mean “equal.” Instead, it refers to what the court deems fair, based on various factors.

Marital Vs. Separate Property

New Jersey recognizes virtually all property acquired during the course of a marriage to be marital property. This is important because all marital property is subject to equitable distribution in a divorce. This can include the marital home, funds held in bank accounts, and more.

On the other hand, separate property is generally not subject to equitable distribution. Separate property includes property obtained prior to or outside of a marriage, such as an inheritance or a gift.

What Factors Do Courts Consider?

When determining how property will be divided in a divorce, courts will consider a variety of factors. Just some of those are as follows:

• Duration of the Marriage: Longer marriages often result in a more equal division of assets.
• Age and Health of the Parties: The physical and mental health of each spouse can affect the distribution.
• Income and Earning Capacity: The current income and future earning potential of each spouse are taken into account.
• Contributions to the Marriage: Both financial and non-financial contributions, such as homemaking and child-rearing, are considered.
• Standard of Living: The court will consider the lifestyle established during the marriage and attempt to maintain fairness for both parties.
• Economic Circumstances: This includes each spouse’s financial situation after the divorce.
• Tax Consequences: The tax implications of distributing certain assets are taken into account.
• Any Agreements Between the Parties: Prenuptial agreements or other arrangements made during the marriage can influence how property is divided.
• Debts and Liabilities: The court will also address how debts incurred during the marriage should be divided.
• Other Relevant Factors: Any other factors deemed important to ensure fairness.

By weighing these considerations, the court strives to reach a decision that is fair, even if it’s not necessarily an equal split.

Contact Our NJ Property Division Lawyers Today

Don’t face the equitable distribution process alone; hire a team of skilled property division lawyers who can effectively advocate for your interests. Contact Feitlin, Youngman, Karas & Gerson, LLC today so we can begin building a strategy for your case.