What to Know About Complex Property and Divorce in New Jersey
Typically, divorces result in litigation. During this process, the parties involved will likely be discussing issues regarding equitable distribution. Equitable distribution is rarely equal, which is why it is important to have a skilled divorce attorney on your side to fight for your rights. The court may grant each spouse a percentage of the property’s total value, rather than each asset getting physically divided up equally. Furthermore, there are oftentimes where couples have complex property, which can add to the confusion and intricacies of the divorce proceedings. Complex property can include various different assets. Continue reading to learn more and contact our skilled New Jersey divorce attorneys to discuss your options. Our firm has been helping spouses settle their property disputes for years and we are equipped to do the same for you.
What is complex property in New Jersey?
Complex property can refer to any high-value property or any assets that are complicated to value or appraise. In addition to standard assets like your home, car, annual income, and more, you may also have more complex assets to worry about when distributing assets during a divorce. Some of the most typical examples of complex property includes the following:
- Assets incorporated in prenuptial agreements
- Separate property improved via marital contributions
- Gifts, trusts, and individual inheritances
- Hidden assets
- Family businesses and partnerships
- Various real estate investments
- Jointly-owned assets, like time-share properties
- Executive compensation packages such as deferred income, stock options, restricted stock, and bonuses
- Retirement funds, pensions, 401k’s, IRA’s, and any other long-term investment assets you may have accumulated over the course of your marriage
- Unique assets like antiques, collectibles, or jewelry
- Separate property that is now intertwined with marital property
- Intellectual property like copyrights, patents, and trademarks
- Assets held in trusts
To speak with our skilled team of New Jersey divorce attorneys, reach out to our firm today to discuss your options. Our firm is dedicated to helping you navigate through this overwhelming and complicated process.
How can I help this process along?
If possible, you and your spouse can help this process by listing your belongings, valuing the property, deciding on a logical owner, and getting the judge’s approval. This preparation can aid in an easier court proceeding when it comes time to go through the equitable distribution of assets.
Contact our experienced Bergen County firm
At Townsend, Tomaio & Newmark, our attorneys have extensive experience helping clients to understand and protect their legal rights before, during, and after the divorce process in towns across New Jersey and Bergen County, including Hackensack, Ridgewood, Paramus, Teaneck, and Fort Lee. To speak with our team of divorce lawyers today in a free and confidential consultation regarding your concerns about your divorce, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.