Division of Property Attorney in Burlington County, NJ
Divorce Lawyer Representing Clients in Property Division in Burlington County, Camden County, Gloucester County, Cumberland County and Throughout South Jersey
Family Law attorney Stephen R. Piper helps clients identify, evaluate and equitably divide marital property, including:
- Real estate
- Cars, boats and other vehicles
- Bank accounts
- Stocks, bonds and other investments
- Pensions and retirement funds
Equitable Division of Property
In a New Jersey divorce, property acquired during the marriage must be divided equitably between the two parties. Equitable division of property can mean a 50-50 split, but it an even split of assets and debts is not mandated by New Jersey law. A fair division of the property is required.
If your former spouse gambled away thousands of dollars of marital assets, the court may not consider a 50-50 split of the remaining assets equitable. The goal is to be fair to both parties.
Marital Property and Separate Property
Assets acquired during the marriage are considered marital property and must be divided. Gifts, inheritances and property acquired prior to the marriage are considered separate property and do not need to be divided.
Who Divides the Property?
Typically the two parties negotiate or mediate a plan for division of property. If they cannot agree, the court will settle the dispute. When dividing assets, the court considers 16 different factors, including:
- Duration of the marriage
- Age and physical/emotional health of each spouse
- Each spouse’s income
- The couple’s standard of living
- The economic circumstances of each spouse
- Each spouse’s contribution to the couple’s marital property (including a spouse’s contribution as a homemaker)
- Any written agreement made by the parties before or during the marriage or civil union concerning an arrangement of property distribution
- The contribution by each party to the education, training or earning power of the other
What Is the Process?
First, assets and debts must be inventoried. Next, each item on the list must be identified as eligible or ineligible for distribution. A monetary value is assigned to each item. If the two parties or the court decides that a 50-50 split is equitable, each party will receive assets that are equal in value to half of the marital estate.
Local Attorney Experienced in Complex Cases
Division of property can easily become very complicated. It may call for the expertise of Mr. Piper’s strong network of accountants, business valuation experts, financial investigators, estate planners and other accomplished professionals.
Divorce attorney Stephen Piper is experienced in division of complex assets like union benefits, military pensions and retirement plans. His prior legal experience doing business valuations and litigation informs his work on behalf of divorce clients.
In property division, Mr. Piper’s goal is to protect your interests and see that you receive the full amount of property you are entitled to obtain under New Jersey Law. To arrange a consultation, please contact The Law Office of Stephen R. Piper, LLC today.
From offices in Moorestown, New Jersey, divorce and family law attorney Stephen R. Piper represents clients in Camden County, Burlington County, Gloucester County throughout South Jersey, and in the Philadelphia area of Pennsylvania.