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Equitable Distribution of Assets and Debts

In New Jersey, unlike some states, assets are distributed pursuant to an equitable distribution statute, as New Jersey is not a “community property” state. The distribution of property is governed by certain factors clarified over the years by an ever-growing body of case law. Assets that are legally acquired during the marriage are subject to equitable distribution. All assets must be divided at the time of the divorce. Along with the assets, however, comes the debt. As a general rule, each spouse is entitled to 50% of the assets and allocated 50% of the debt that was accumulated during the marriage. Additionally, if one spouse has accumulated a 401k, pension, or other form of a retirement account, the other spouse is entitled to 50% of the marital portion of same.

There are exceptions however, and we are here to help you determine what is considered a marital asset subject to equitable distribution and what is not. Real estate purchased prior to the marriage generally is not considered a marital asset subject to equitable distribution, but if the marriage is long and the mortgage is paid off during the marriage, it can be.

The marital home is often a contentious subject of divorce litigation. It generally doesn’t make sense for most families to continue to live together after a divorce. If there is a marital home that has equity, generally if the parties agree for one spouse to remain in the home, they have to either buy out the other spouse, or negotiate a fair resolution such as an alimony waiver. In situations where neither party can do this, or where neither party can agree who is to remain in the home, the marital home is often sold with each party keeping 50% of the equity. At Garces, Grabler, and LeBrocq, our attorneys are here to negotiate for you in this very important life decision.

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Outstanding service very professional attorneys thumbs up all the way
, Feb 4, 2017
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, Oct 22, 2016
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, Sep 4, 2015
The best In Plainfield, Thanks Garces+Grabler+Lebrocq for your help! Beating my case and my wife case.
, Jun 15, 2016
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, Jan 26, 2017
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, Feb 3, 2017
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, Oct 17, 2016
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, Jul 24, 2016
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, Aug 18, 2016
I found my attorney, Mr. Kessous, to be highly professional, knowledgeable, friendly and effective. He was highly responsive to my questions and concerns and easy to work with, and achieved the desired settlement for me in regard to my traffic ticket. If I were in the same situation all over again, I would choose to work with him without hesitation, and expect that if I were to face a similar situation in the foreseeable future, I would contact him. I would also provide his name with the highest recommendation to others in the area for such problems. (I also found his assistant, Gabriela Vargas, to be quite responsive and helpful as well.) Thanks again for all of your help!
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, Jan 26, 2017
Bill Grabler handled several comp case's for me including permanent worker's comp. He did a fantastic job.
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, Jun 29, 2016
I had the good fortune of Mr. Pasquale Vella representing in a matter that I had deemed a bleak one, with no positive outcome in sight. Vella assured me that he would work hard to get me the best results possible, and that is exactly what he did. He worked tirelessly making sure he covered all possible angles, and in the end I was extremely pleased with his services. Vella proved to be diligent, aggressive in yielding results, and very professional, all while maintaining a communicative yet good natured rapport with me as his client. I would most certainly use his services again in the future as well as highly recommend him to anyone in need of a great criminal defense attorney.
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, Jun 14, 2016