Morris County NJ Equitable Distribution Law Firm

Like alimony, the division of marital property, also known as equitable distribution, is an area of divorce that is the subject of significant litigation.  Each party is entitled to a share of all property acquired during the marriage.  Although there is a presumption that marital property is equally divided, it does not have to be done that way.  Frequently spouses trade one form of property for another.  Disagreements arise when the parties cannot agree upon the value of marital property, or whether a particular property is entirely or partially marital.  The issues can become complicated when premarital property, which generally is not subject to division, increases in value during the marriage and a claim is made by the other spouse for a share of the increased value of the property.  In some cases, such as when a business or pension needs to be valued, experts such as forensic accountants, business evaluation experts, and pension appraisers need to be employed to help the parties and the court value the marital share of the particular asset.  In the case of a pension, federal tax laws prevent the division of the pension absent an order of a court.  The order is called a qualified domestic relations order and is almost always prepared with the help of competent counsel and a pension valuation expert.  As can be seen from this short writing, the division of a couple’s assets can be difficult.  The parties are always best served by seeking the advice of a divorce attorney.  Please contact us.  We will be pleased to assess your individual circumstances and provide you with an opinion as to the division of your assets.