Bergen County NJ Complex Property Division Attorneys
Divorce and Family Lawyers with Offices in Hackensack, New Jersey
Divorce can bring about the worst in people, particularly when differing opinions about child custody and/or finances such as alimony and division of assets are at issue. Unfortunately, these determinations are very rarely obvious, with a great deal of dispute that occurs in the obscure area between “what is yours and what is mine.” The division of assets process perhaps most fully exemplifies the often difficult road to a marital settlement because finances represent not only what each person has earned, but what he or she deserves moving forward. Financial determinations become increasingly complex during High Net Worth divorces due to the diverse nature of the property to be divided, the potential for an increase in value of certain assets over time, and the complicated compensation structures often provided to those with executive positions. Considering the intricacies associated with complex property division and the long-term implications for your financial security, it is highly advisable to consult with knowledgeable legal professionals who can tackle these challenges and ensure that your interests protected.
At Townsend, Tomaio & Newmark, over 75 years of combined experience, exceptional credentials, and a steadfast commitment to continuing education has allowed us to accumulate a repository of information and resources, as well as relationships with some of the most well-reputed experts in finance and property valuation. We have dedicated our practice entirely to divorce and family law in order to remain at the forefront of our field and to address the most complex issues within this area of practice. Our three partners are among the only 2 percent of attorneys recognized by the Supreme Court of New Jersey as a Certified Matrimonial Law Attorneys and have earned authorship in a variety of distinguished publications. For example, Partner Paul H. Townsend has been published in the informational treatise Forensic Accounting in Matrimonial Divorce, which allows him to provide invaluable insight into complex property division cases. With our standard of excellence, we also hold strongly to a personalized client approach, valuing and supporting each person as they undergo the often stressful divorce process. For additional information and a free consultation, contact our offices in Bergen County at 201-285-5985. One of our talented legal professionals is standing by to assist you.
Complex Property Division in New Jersey Divorce
Untangling a complicated financial relationship requires exhaustive investigation, precision, and highly specialized knowledge of certain forms of property. In order to accomplish this task with unquestionable accuracy, we often collaborate with experts such as certified public accountants, forensic accountants, financial analysts, real estate and property appraisers, and even private investigators who may uncover hidden assets that are subject to equitable distribution. As explained more fully on our Division of Assets page, equitable distribution is the principle that governs division of assets in New Jersey. According to this principle, property attained during a marriage must be divided fairly and equitably, but not necessarily equally. Note that only marital property is subject to equitable distribution, meaning that separate property acquired prior to the marriage is excluded from this process. With regard to complex property division, these cases frequently involve assets that cannot be adequately understood with a current valuation, nor simply divided in half with 50% provided to each side. Some of the assets that require further examination and perhaps expert opinions include:
- Closely held or family businesses and partnerships
- Professional practices
- Real estate investments
- Assets owned with other parties, such as time-share properties
- Executive compensation packages including stock options, restricted stock, deferred income, and bonuses
- Retirement funds, pensions, 401k’s, IRA’s and other long-term investment assets
- Intellectual property such as patents, copyrights and trademarks
- Assets held in trust or those that are subject to tax regulations if prematurely distributed
- Unique assets such as collectibles, antiques, or jewelry
- Separate property that has been commingled with marital property
- Separate property that has been improved through marital contributions
- Assets included in prenuptial agreements
- Gifts, trusts, and individual inheritances
- Hidden assets
Wyckoff NJ Complex Property Division Lawyers
When wading through the murky waters of complex property division, there are so many critical questions to answer: is this property marital or separate? Were some separate assets commingled during the marriage and if so, how should they be divided? Are stock options that will vest over time based on prior or future work? How should retirement assets be valued and divided? What about unique items that have significant sentimental and financial value? These questions and many more can become overwhelming. Fortunately, by leveraging the knowledge and experience of our exceptional divorce attorneys, as well as the invaluable contributions of our expert partnerships, we assist clients in successfully resolving these issues every day. To discuss your unique situation with one of our skilled legal professionals, contact our Bergen County offices today at 201-285-5985. There is no time like the present to plan for your future.