Division of marital assets and debts can be simple or complex in divorce. When a couple does not have significant assets or debts, dividing those assets in an equitable manner can be accomplished quickly. However, if you and your spouse own complex assets such as businesses, multiple savings and investment accounts, stock options, real estate, pensions and 401(k) accounts, the task of dividing property can be time consuming and require the use of experts.
At the Law Offices of Irwin D. Tubman, LLC, we have extensive experience in property division matters, particularly those involving real estate, closely-held businesses, retirement benefits and complex financial assets. Our firm works to achieve a fair and practical division of property that preserves your assets and protects your rights.
Reaching an Equitable Property Settlement
We have a comprehensive understanding of both New Jersey law, and the practical realities of dividing marital property. For example, most marriages involve real estate. We use our extensive experience handling real estate transactions to identify the major issues regarding homes and commercial property and their values.
One issue that many couples face today is dealing with property that is underwater, meaning there is no equity. Just because a divorce judgment awards a home to your ex does not mean that the bank will forgive the mortgage debt.
Creative Solutions in the Division of Marital Property
Some assets such as bank accounts are easy to divide. In other cases, the integrity of an asset requires that it be preserved. Often you can accomplish your objective of preserving an asset by trading assets of equal value. There are many different ways to divide marital property. The skill, understanding and creativity of your lawyer are important factors in reaching an equitable result.
We are experienced in marital property division matters involving closely held businesses in New Jersey. We understand how to obtain a fair valuation of a business. We also know how to challenge a faulty or inadequate valuation presented by your spouse’s lawyer and experts.