Property Distribution Attorneys in Bridgewater, NJ
When a couple gets divorced, they will be forced with the challenging task of untangling the life that they created together. This typically means dividing the assets that they have accumulated over the years that they were married. In New Jersey, marital assets are divided in a process that is referred to as equitable distribution. It is critical that you have an experienced legal team on your side to ensure your property is divided in a fair and equitable manner. At Siragusa Law Firm, we have decades of experience proudly serving clients throughout New Jersey when they need quality legal guidance. To discuss your situation with a team you can trust, contact Siragusa Law Firm today.
Understanding Marital Vs. Separate Property
When it comes time to divide property in a divorce, it is first necessary to determine which property is considered marital and which property is considered separate. Only marital property is considered in the equitable distribution process, which is the method of dividing assets in a fair and just manner. Marital property is any property that was acquired by the couple during the course of their marriage. Separate property, on the other hand, is any property that was acquired prior to the marriage, or that was acquired during the marriage and kept separate from the other party. It is important to note that sometimes, separate property can become marital, which may complicate matters, so it is essential to have strong legal guidance every step of the way.
Factors Considered In Equitable Distribution
When dividing property, there is a wide range of factors that must be taken into account. Some of these include the following:
- The length of the marriage
- The contribution of each party during the marriage
- The tax consequences that may impact the distribution
- The debts and liabilities of either party
- The age and health of either party
- Any child custody considerations
Can Property Distribution Disputes Stay Out of Court?
Mediation or collaborative law may be a good option for people who otherwise would have an uncontested divorce. Through mediation or collaborative law, couples can come to an agreement outside of court that best serves their needs by saving time and money and leaving decisions about their future in their hands. When a couple can decide on important factors for themselves, the results are easier to bear because their fate is not in the hands of a judge. Often times, New Jersey courts will recommend this option as it may best serve all parties and the government as well. If a couple cannot come together and engage in alternative dispute resolution, their issues may have to be resolved by a judge.
Contact A New Jersey Distribution Attorney
If you are worried about the equitable distribution process in your divorce, it is important to have strong legal guidance with you every step of the way. At Siragusa Law Firm, we have decades of experience representing clients across New Jersey who need quality divorce and family law services. For dedicated legal representation when it matters most, contact Siragusa Law Firm today.