Dividing marital assets and liabilities is a very complex process that will have a substantial impact on your finances now and going forward. By working with a skilled lawyer, you can give yourself the best chance of achieving your financial goals. At Ruvolo Law Group, LLC, our Morristown and Hackensack-based law firm takes on challenging property distribution issues for clients across North and Central New Jersey. Our lawyers bring a detailed understanding of the legal, factual and procedural issues in these cases, and will work tirelessly to help place you on sound financial footing after your divorce.

Seeking the Equitable Distribution of Marital Property

In New Jersey, marital assets and liabilities are divided in an equitable fashion. An equitable distribution does not mean that all property is simply divided 50-50. Rather, the judge will determine what is fair under the law. When determining the equitable distribution of marital property, the first issue is to classify property as marital property and separate property. Examples of separate property are premarital assets, gifts from third parties and proceeds from an inheritance. However, as our attorneys will explain to you, the distinction between marital and separate property is often clouded by the details of a particular case. This is particularly true when property that would have otherwise been considered separate property and, therefore, exempt from equitable distribution is "commingled" into a marital asset.

The next step is to determine the value of the marital property. When parties have substantial or unique assets, such as a family-owned or closely held company, multiple homes, stock holdings or other executive compensation, this step can be quite challenging. Our law firm will work with experts as necessary to establish the correct value of all marital assets.

The final step is to equitably divide all marital property. This division can be accomplished through negotiation, alternative methods of dispute resolution such as mediation, arbitration or collaborative law, or litigation. The process selected depends on many factors.

Our attorneys will explain and help our clients understand the legal options and strategies available to them. In doing so, we make it our job to candidly and frankly advise our clients as to which options, in our professional opinion, best protect their rights and further their individual goals. We can provide this high level of individually tailored legal advice because we have dedicated our entire firm to the service of each client's individual needs.

Contact Ruvolo Law Group, LLC

You are invited to contact our firm to schedule an initial consultation at 973-993-9960. You can also reach us online. All communications remain confidential.