Category: Equitable Distribution
How to divide assets is one of the most common sources of dispute in divorce. In New Jersey, marital property and debt are subject to equitable distribution, which means fair, but not necessarily equal, division between the parties. While New Jersey law requires the full disclosure of all assets, New Jersey Courts do not independently verify whether a party has fully and candidly disclosed all assets. Instead, it is up to the other party to “fact check” the accuracy of their spouse’s disclosures. An attorney, acting in concert with other professionals, has several methods to verify financial disclosures and find hidden assets.
The traditional litigation process often encourages parties to take a “win-lose” approach to divorce. Every divorce is different, but before pursuing litigation, everyone should consider the benefits mediation can offer.
As painful as divorce is emotionally, the financial aspects can be just as traumatic as the parties face uncertainty regarding their economic situation. Alimony or spousal support is hotly contested in many divorces especially since judges have substantial discretion in awarding it. Similarly, how money, property and debts will be split in equitable distribution is […]