Getting An Equitable Divorce No Matter How Complex The Assets
As every marriage is different, so is each divorce. Many people fear they will not get the sophisticated representation that their unique assets require. The team at the Law Offices Of Michael P. McGuire LLC in Freehold is composed of attorneys with extensive experience with complex assets. Our team provides the legal and financial acumen to resolve even the most complicated financial issues.
The Broad Scope Of Our Divorce And Property Division Practice
As attorneys well-established in many areas of New Jersey family law, we are able and prepared to assist you with the many facets of your divorce. We regularly provide guidance and representation on child custody and child support matters.
We also offer shrewd insight into asset division, including:
- Hidden assets, as we engage forensic accountants to locate all assets, including offshore accounts
- Complicated financial assets such as stocks, securities and cryptocurrency
- Business ownership, valuation and division
- Real estate, including second or third homes, vacation property and rental or commercial real estate
While New Jersey does have set guidelines for child support, we can work to ensure that your spousal and child support plans are within reason and meet your needs as well as the needs of your child. We also assist clients seeking divorce representation in Spanish or Arabic.
What factors do New Jersey courts consider when dividing property and assets?
New Jersey is an equitable distribution state, which means that courts divide assets equitably, but not necessarily equally, between spouses. The judge will consider several factors when dividing assets, including:
- The duration of the marriage
- Each spouse’s contribution to the marital estate
- Each spouse’s separate assets
- Whether one spouse supported the other while the other attended school
- Each spouse’s earning potential
- The existence of a prenuptial or post-nuptial agreement
This leaves a lot of room for interpretation by the court, so you should have an attorney who can present your asset distribution argument persuasively.
How are retirement assets divided in a divorce?
Pensions, 401(ks), stock options and other retirement assets add complexity to asset division. The manner in which you divide them depends on the type of account:
- Defined contribution plans such as IRAs can transfer from one spouse to another without tax penalties.
- The division of defined benefit plans such as pensions is usually deferred until the time of retirement when the benefits are paid out and divided.
Like other assets, retirement benefits are subject to equitable distribution under state law.
Why do I need a business valuation?
You stand to divide your business assets in a divorce. An accurate valuation is crucial to let each spouse know what to expect from their equitable distribution arrangement.
Will I be able to keep the marital home?
If you are interested in keeping your marital home after the divorce, be aware that you will likely have to give your spouse a share of assets equal to half the worth of the house. If your spouse does not want you to keep the home and would prefer to sell it, you may need a trial in which a judge issues a decision. Judges’ decisions regarding the marital house vary widely. Frequently, judges award the marital home to the spouse who has primary physical custody of the children if they want to remain there for the sake of the children’s stability. Judges are often more willing to let one spouse keep the home instead of ordering it sold if the other spouse owns more than one real estate property.
Work With Our Team For Meticulous Divorce Service
While there are many attorneys who handle divorce, not many have the financial background as the attorneys on our team. When you work with us, you get dedicated personal service that is grounded in solid strategy. Working closely with your attorney at our firm means you get transparent communication at each step of the process.
Set up a consultation at our Freehold, New Jersey, office to find out more about how we can help you with your specific case. Email the firm or call us at 732-704-7331. We offer consultations in English, Spanish or Arabic.