How Assets and Debts are Divided During Divorce

1
How Assets and Debts are Divided During
Divorce One of the most stressful parts of a
divorce negotiation may be the division of
marital property, assets, and debts. As you
contemplate your divorce and attempt to navigate
all of the complicated laws in the state of New
Jersey, you may wonder how your assets and debts
will be divided, and whether or not you will
receive a fair division of financial assets by
the court. Learning more about how marital
property is divided in a divorce can help you
ensure that your rights remain protected.
Determining and Assessing Value Almost all
assets and property acquired during a marriage
will be considered marital property for purposes
of division of marital assets. Unless there is a
unique circumstance, such as the property being
covered by a prenuptial agreement or a gift
directly to you from a relative, it will likely
be considered as marital property. In some
cases, depending on the extent of the finances
involved, a couple may want to consider hiring
an independent professional appraiser or another
type of financial professional in order to
determine the value of property or assess the
value of certain assets. Debt is easier to value
in some cases, but may need to receive a
professional financial assessment as
well. Contact an Experienced Family Law
Attorney If you are considering a divorce, you
likely have a great deal of concern regarding the
division of your marital property, debts, and
assets. Consulting with an experienced family law
attorney can help ensure your financial rights
are protected throughout the divorce process.
Contact an experienced divorce attorney at Giro
Law at 201-690-1642 to learn more about your
financial rights during your divorce.