65 Madison Ave · Suite 420 · Morristown, NJ · 07960

¡Attention TAC People!

Press 'p' on your keyboard to make this palette go away.

Max width: 1200px
Color Hex R G B
Blue from Logo#003d65 0 61 101
Darker Blue#021020 2 16 32
Red from Logo#780500 120 5 0
Darker Red#400000 64 0 0
Gray from Modern Firm Site#f3f2ed 243 242 237
Bright, Light Blue#ccebff 204 235 255
Form Input Background Blue#accfe6 172 207 230
Slightly Darker Blue#002e4d 0 46 77
Slightly Darker Gray#e6e5e0 0 46 77
Darker Gray#cccbc7 0 46 77
Lighter Logo Blue#005c99 204 235 255
Login Link Blue#598fb3 89 143 179
Slighty Lighter Red#99150f 153 21 15
Slighty Darker Gray#b3b2ae 179 178 174
Hunter Green#013b23 1 59 35
Lighter Green #025935 ? ? ?
Beige Charcoal #1f1e1e ? ? ?
"Metallic Gold" #D4AF37 ? ? ?
"Darker Green" #012e1b ? ? ?

Splitting Up Assets During A Divorce

One of the most complicated areas of New Jersey divorce law is the division of marital assets. Splitting up a family’s property during a divorce typically requires the help of an experienced divorce attorney who will identify a couple’s martial assets, determine the value of the assets, and arrive at an equitable distribution of the assets that both spouses agree to.

Asset division is not always an easy process, especially when a couple has significant assets such as real estate, pensions, or stocks. The tax implications and liquidity of the assets should be taken into account as well. For example, when one spouse receives a share of a retirement account, the after-tax value of the account might be significantly different than the listed value of the account.

Another example of an illiquid asset may be a stake in closely held family business or a home that will not sell well in the current real estate market. The home may be worth more if the real estate market improves, but the additional property tax and maintenance issues associated with the home may not be ideal for the spouse receiving the home.

Not all property is treated equally in the asset division process. There is marital property and non-marital property. Marital property typically consists of assets acquired during the marriage. Non-martial property includes inheritances, gifts, and assets brought into the marriage and not comingled with the other spouse’s finances. Marital property may include assets such as the family home, major investment, and a family business. Only marital property can be divided in a divorce.

The appropriate identification and valuation of marital property is essential for arriving to a proper asset division in any divorce.

Source: Forbes, “Understanding How Assets Get Divided In Divorce,” Jeff Landers, 4/12/11

Begin Your Conversation

  • Disclaimer: Contacting our firm via the internet does not create an attorney-client relationship. Please do not send any confidential information through this form.

Contact Our Morris County Office

866-957-2982

973-828-0829

Morristown / Morris County Law Office

65 Madison Ave

Suite 420

Morristown, NJ 07960

Morris County Mediation Office Map