Fair And Reasonable Division Of Marital Property
In New Jersey, the concept of equitable distribution guides property division in a divorce. Under equitable division, judges will make their determination on what they perceive to be fair.
This does not, however, necessarily mean equal.
While a judge will make a fair decision, it may not be what’s right for your family. Deciding property division in court can also be a contentious, long and expensive process. At Bastarrika, Soto, Gonzalez & Somohano, L.L.P., we believe in finding ways to reduce the complexity and expense of property division while keeping the end result focused on your unique situation.
Your property may include your house, business interests, retirement accounts and investments as well as debts. As your legal representative, we will help you determine the value of your property, illustrate your contributions to the marital finances and negotiate for a result that is in your best interests.
Divorce is a challenging time emotionally and financially. Our family law attorneys understand that this is your life, and the decisions you make today matter to your future. You deserve a lawyer who will take the time to get to know you and help you make smart choices to protect your livelihood today and tomorrow.
Debts Are Divided As Well
The divorce settlement must deal with shared debt in addition to property. Typically, a debt incurred by one person prior to marriage will remain the responsibility of that person. Debts that you hold jointly with your spouse could be divided equally. Reasons could arise, however, that shift all or most of the obligations to one party. A court could consider your ability to pay a debt or whether the loan was for your benefit.