Simple Division of Property
Other than questions about children, property distribution is often the most contentious issue in a divorce. New Jersey is an equitable division state, meaning that property is divided in a matter that is fair but not necessarily equal.
At Graziano & Flynn, P.C., in Cherry Hill, we are committed to helping our clients receive a fair and equitable distribution of the marital assets. We help our clients understand the process, and we take steps to protect their assets to the greatest extent possible. We have nearly 60 years of combined experience negotiating property settlements for clients in Camden County, Gloucester County, Burlington County and throughout the state.
The first step in establishing the equitable distribution of property is determining which assets are marital property and which are separate property. Marital property includes any assets that were acquired by either spouse or jointly during the marriage as well as a previously owned property that was improved during the marriage. Separate property includes anything owned prior to the marriage, any gifts or inheritance received during the marriage, and any property acquired after filing for divorce.Factors to Consider
Our New Jersey lawyers work closely with our clients to determine which property should be characterized as marital property and which is separate property. Then, we work to establish the value of the joint property. Often, we work with accountants, forensic accountants, real estate evaluators and other professionals to determine the true value of the marital estate. The court then applies a number of factors to determine the equitable distribution of the property. Some of those factors include:
- Length of the marriage
- The age, physical health and emotional health of each person
- The income and earning capacity of each party
- The standard of living during the marriage
- The present value of the property
- The debts and liabilities of each party
- Any tax consequences associated with the distribution the marital property
We recognize that property distribution issues are as complex as they are emotionally charged. We strive to provide our clients with reasoned advice related to the distribution of marital assets. Our attorneys examine our client’s finances, the equity in their home and the value of their cars. Then we work to ensure our clients receive the fairest possible distribution of the marital assets, whether through negotiation or at trial.Contact a Cherry Hill Equitable Distribution Attorney
If you are considering divorce and have questions about the distribution of marital assets, please contact Graziano & Flynn, P.C. We can be reached at 856-499-4351 or toll free 866-948-7568. You can also send us an email and we will respond promptly.