Deciding Who Gets What
Property division can be one of the most contentious aspects of divorce. When you are angry at your spouse, it is easy to get caught up in every small detail associated with dividing your assets. At the Robin Jill Schneider law firm in Matawan, New Jersey, I help you move past the emotional aspect of your divorce so that you can take a realistic approach to property division. Contact my firm today to learn more about how I can help.
Equitable Distribution Of Marital Property
New Jersey is an equitable distribution state. This means that marital property – or, any property that was acquired during your marriage – must be divided fairly and equitably; but an equitable division does not necessarily mean a 50-50 split. This is because, in New Jersey and many other states, brining “value” to the household doesn’t necessarily only mean monetary value. For example, a stay-at-home parent brings value to their household, but they are not paid for their work.
A wide variety of factors are considered when determining how property should be divided, including the length of the marriage, any debts or liabilities the couple shares, the earning capacity of each spouse and more. There are generally three steps to determine how marital property will be divided by the court:
- The assets that are subject to division must be identified. This may include family-owned businesses, property, retirement assets, pensions and personal property.
- A valuation must be given to the assets.
- The court is then able to determine what is a fair distribution of the assets.
My name is Robin Jill Schneider, and I have decades of experience representing individuals through divorce and the property division process. I have an economics background that makes me particularly well-equipped to work through property division in ways that are fair to my clients.
Focusing On What Is Important
The best approach to property distribution is often to focus on what is most important to you. Focusing on the things that you truly care about can avoid wasting time and money fighting over small things that really don’t matter to you.
Maybe you really want to keep your marital home, or maybe you have a business that you want to maintain control of. No matter what it is that matters to you, I will aggressively pursue it.