How Assets and Debts are Divided During Divorce

One of the most stressful parts of a divorce negotiation may be the division of marital property, assets, and debts. As you contemplate your divorce and attempt to navigate all of the complicated laws in the state of New Jersey, you may wonder how your assets and debts will be divided, and whether or not you will receive a fair division of financial assets by the court. Learning more about how marital property is divided in a divorce can help you ensure that your rights remain protected.                                               

Determining and Assessing Value

Almost all assets and property acquired during a marriage will be considered marital property for purposes of division of marital assets. Unless there is a unique circumstance, such as the property being covered by a prenuptial agreement or a gift directly to you from a relative, it will likely be considered as marital property. In some cases, depending on the extent of the finances involved, a couple may want to consider hiring an independent professional appraiser or another type of financial professional in order to determine the value of property or assess the value of certain assets. Debt is easier to value in some cases, but may need to receive a professional financial assessment as well.

Contact an Experienced Family Law Attorney

If you are considering a divorce, you likely have a great deal of concern regarding the division of your marital property, debts, and assets. Consulting with an experienced family law attorney can help ensure your financial rights are protected throughout the divorce process. Contact an experienced divorce attorney at Giro Law at 201-690-1642 to learn more about your financial rights during your divorce.

Comments

Post a Comment

Popular posts from this blog

Can My Ex Stop My Children From Being Vaccinated in New Jersey?

Image
When couples divorce in New Jersey, many are concerned that they will no longer have control over major decisions that impact the lives of their children. One major decision today involves  COVID-19 vaccinations . People have strong opinions on this subject, and many former spouses in New Jersey do not agree on the correct course of action. Unfortunately, this may lead to one parent taking legal action against the other. Can one parent really have the final say on this matter? If you are dealing with this situation, it is probably best to get help from a legal professional. A family law attorney in New Jersey can explain your options in a clear, concise manner. They can also help you fight for the right to make important decisions about your child’s life, even if it means representing you in court. What Type of Custody Do You Have? The first question is whether or not you have primary legal custody. This situation is actually quite rare, but it means that you have complete freedom to m
Read more

What is the Difference Between Adoption and Guardianship in New Jersey?

Image
Taking a child under your wing is one of the most rewarding things you can do, especially if that child has lost their parents or has been suffering in an unsafe environment. In New Jersey,  there are a number of different ways in which you can welcome a child into your family . One is adoption, and the other is guardianship. So what is the difference between these two legal concepts? Which one should you choose? Are there certain benefits for either route? All of these questions and many others can be answered by a qualified, experienced family law attorney in New Jersey. If you are approaching the process of guardianship or  adoption , it makes sense to consult with one of these legal experts. Not only can a lawyer help you choose the best option, but they can also guide you through the process in an efficient manner. The Two Options Available to You Kinship Legal Guardianship:  Popular among grandparents and relatives, this allows you to get children out of foster care and into a st
Read more

Why Establishing Paternity is Important in New Jersey

Image
  From a moral perspective, determining who has fathered certain children is important for society. But it is also important from a legal perspective. For parents in the Garden State, establishing  paternity  may be a priority for a number of reasons. Whether you are the father or the mother in this situation, you may feel like this is a daunting, complex legal process. Thankfully, there is always help available for those who need it. A qualified, experienced family law attorney in New Jersey can assist you as you approach the paternity process. Our legal professionals understand the various challenges and hurdles associated with this situation, and they can answer all of your questions. Ideally, you should team up with an attorney who specializes in paternity cases. Why Might You Want to Establish Paternity? There are a number of reasons you might want to establish paternity: Child Support:  In order to collect  child support from a father , you must first establish that this individu
Read more