Equitable Distribution

Morristown, New Jersey, Lawyers

Equitable (fair) distribution of assets acquired during a marriage is one of the most important concerns facing divorcing couples. Some couples have little difficulty splitting up the property they have accumulated during their marriage. For other couples the process is not so easy. When trying to evaluate and divide complicated assets such as family owned businesses, stock options, deferred compensation plans, time shares, vacation homes, and investment accounts, a divorce lawyer who knows how to handle complex property division can be invaluable.

Protect your rights to receive your fair share of the marital estate

Divorce lawyer Frank Grather has extensive experience helping clients receive the property to which they are entitled. Having been the trial attorney in the case of Marx v. Marx, 265 N.J. Super 418 (Ch. Div. 1993), a landmark New Jersey case addressing the division of pensions, he has particular knowledge and experience in the distribution of pensions and retirement plans, and the "Marx" formula.

Protect your rights in your marital property. Call Broderick, Newmark & Grather, P.C. at 973-813-7074 or contact us to speak with an attorney who has decades of experience helping clients with complicated property division disputes in New Jersey divorces.

The equitable distribution process in New Jersey

New Jersey Courts are empowered to distribute assets acquired by divorcing parties in an equitable manner. Such assets are limited to those acquired during the marriage. New Jersey Courts follow a three-step process in order to determine equitable distribution:

• Identifying the assets
• Valuing the assets
• Allocating assets to each party on a percentage basis

The types of assets that can be marital property

Identifying assets occurs during the legal process of discovery. Assigning a value to the property identified as a marital asset requires the assistance of real estate appraisers, business valuation experts, and pension evaluators. Mr. Grather has extensive experience in the discovery and valuation processes and maintains close working relationships with financial experts. He has overseen the identification and valuation of assets such as:

• Closely held businesses
• Partnership interests
• Stock options
• Deferred compensation plans
• 401(k) plans and other retirement accounts
• Gifts
• Inheritances
• Trusts and the income from trusts
• Lottery winnings
• Personal injury and workers' compensation awards

Timing is important

The time when the asset was acquired is also an important element in the process. The phrase "during the marriage" refers to the period from the date of marriage to the date of filing the divorce Complaint. However, assets acquired before the marriage and after the filing of the Complaint can sometimes be included in the assets to be divided. Mr. Grather has extensive experience in this area and advises clients about the inclusion of specific assets in the marital property.

Factors used by the court in allocating assets

New Jersey Courts use a number of factors when determining how to allocate assets, including:

• Any prenuptial agreements or marital agreements signed by the parties
• The age, health, income, education and earning ability of each party
• The duration of the marriage
• The standard of living established during the marriage
• The custody of the children and whether the custodial parent needs to own or occupy the marital residence for the best interests of the children and to use or own the household effects
• The debts and liabilities of the parties
• The amount of alimony / spousal support, if any, awarded to a party

If you are concerned about being awarded your fair share of the marital estate, or have questions about the equitable distribution of marital property, contact Frank Grather to arrange a consultation.