Dividing assets and debts can be one of the most stressful parts of a divorce in Red Bank, New Jersey. Even if you and your spouse have a general idea of who should keep what, complications may arise when it comes to specific items—like a family home, retirement plans, or a small business. At The Law Office of Jennifer J. McCaskill, LLC, we understand how important it is to protect what matters most to you, now and in the years ahead.
Our Red Bank property division lawyers have decades of combined experience helping clients address the issues that truly count in a divorce, including fair and sensible distribution of property. If you have questions about your specific situation, we invite you to contact us at (732) 747-1882 for a legal advice tailored to your needs.
How The Law Office of Jennifer J. McCaskill, LLC Can Help With Your Property Division Case in Red Bank, NJ
A divorce can involve a variety of legal matters, such as child custody, child support, alimony (spousal support), and property division. If you’re going through a divorce without strong legal support, you could risk losing some of the assets that you’ve worked hard to acquire. Our Red Bank divorce lawyers know how to safeguard your interests, whether through negotiation or litigation.
When you hire our firm, we can:
- Investigate every asset and debt relevant to your marriage
- Collaborate with financial experts for tasks like valuation and tax planning
- Explore alternative options like mediation to potentially save time and resources
- Negotiate zealously on your behalf, standing firm for fair results
- Handle all paperwork, court filings, and communications to ensure no detail is overlooked
- Represent you at every hearing if your case requires a judge’s intervention
Ultimately, we want you to feel confident that you’re receiving a fair share of the marital property. By partnering with us, you’ll have a dedicated advocate who focuses on your unique goals and circumstances. Contact our property division lawyers in Red Bank, NJ, today for a free consultation.
An Overview of Property Division Law in New Jersey
New Jersey follows the principle of equitable distribution for property division. Unlike a strict 50/50 split, equitable distribution means that marital assets and debts are divided in a way that’s deemed fair under the circumstances. A judge (or the parties themselves, if they settle out of court) will look at multiple factors to decide how to split things fairly.
These factors can include the length of the marriage, each spouse’s financial situation, their contributions to the household, and more. The goal is to reach a balanced outcome that considers each person’s future needs and the roles they played during the marriage.
What Is Marital Property?
In New Jersey, only marital property is subject to equitable distribution. Generally, this is any asset—or debt—acquired by either spouse during the marriage.
Examples include:
- The marital home and other real estate
- Vehicles
- Bank and investment accounts
- Retirement and pension plans
- Business interests
- Household items, artwork, or collectibles
On the other hand, separate property usually includes items that either spouse owned prior to the marriage or received individually as a gift or inheritance during the marriage. If an asset is truly separate, it won’t be divided.
Can Separate Property Become Marital Property?
Yes, it’s possible for separate property to be transformed into marital property. This typically happens when funds or assets are shared (commingled) in a way that blurs the line between sole ownership and shared ownership.
For example:
- A spouse deposits inheritance money into a joint bank account
- One spouse uses personal savings to fund a business venture that both spouses work on
- Major improvements on property owned by one spouse before the marriage are paid for with marital funds
If you’re not careful with how finances are managed during the marriage, something you believed was your separate property could end up subject to division. That’s why it’s critical to keep detailed records and consult with an attorney if you suspect that commingling might apply to your case.
Factors That Influence Property Division in Red Bank, New Jersey
When a New Jersey family court steps in to settle property disputes, it doesn’t just flip a coin or split everything right down the middle.
Instead, the court weighs factors such as:
- The length of the marriage
- Each spouse’s age, health, and earning capacity
- The standard of living established during the marriage
- Each spouse’s contributions to the marriage (financial or non-financial)
- Any alimony arrangements already in place
- The presence of children and child custody plans
Courts may also look at whether one spouse tried to hide assets or acted dishonestly. Transparency is crucial—if there’s any sign that a spouse attempted to conceal property, the judge could grant a larger share to the other spouse.
Contact a Red Bank Property Division Attorney for Help
Are you concerned about how to fairly split your assets and debts in a New Jersey divorce? Do you want to make sure you receive what you’re legally entitled to under state law? The Law Office of Jennifer J. McCaskill, LLC is here to help you handle all property division issues with skill and confidence. Contact our Red Bank property division attorneys today for a free case evaluation.
