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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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The Lawyers were very friendly and knowledgeable. If I need a lawyer in the future, they would my go to attorneys.
, Jun 13, 2016
The BEST I WILL RECOMMEND
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Great practice they always get the job done for a reasonable price.
, Feb 3, 2017
The best lawyers and Their excellent assistants
, Jun 14, 2016
Excelente
, May 23, 2016
Great expletive with Esq Arindo. He is practical, honest, and thorough. I really appreciate his help.
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Awesome job , very pleased with the outcome of my case !
, Jan 4, 2017
Very good
, May 21, 2016
Bill Grabler handled several comp case's for me including permanent worker's comp. He did a fantastic job.
, Jul 21, 2016
My lawyer Pat was very efficient on my case and I definitely give GGL 5 stars
, Oct 23, 2016
The best In Plainfield, Thanks Garces+Grabler+Lebrocq for your help! Beating my case and my wife case.
, Jun 15, 2016
Jonathan was brilliant!!! He is an expert in the field of DUI's. He is patient, well prepared and first and foremost he was concerned for the well-being of me and my family... Thanks so much for your representation!!!!
, Jun 29, 2016
Staff was very helpful and explained the case as it went along.
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Great service and support from start to end.
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Gracias x hacer todo lo posible dios los bendiga
, Aug 3, 2016
I was very impressed with the professionalism and quick turn-around time from all the participants from GGL that assisted me. I would like to especially thank my attorney Jonathan Kessous. His credentials are very notable he is one of four attorneys throughout the entire state of NJ certified by the NJ Supreme Court as a Trial Specialist in both Criminal and Municipal Court Law matters. My case was very serious and could have resulted in jail time or suspension of my license. Jonathan was able to resolve my case very favorably. I am extremely thankful for his assistance. I would also like to recognize and thank his Paralegal Jasmin Caba and his Personal Assistant Marianne Crisitello for their assistance in communicating and preparing me for my trial. They are a great team and I would highly recommend them.
, Feb 27, 2017
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Great Experience. Wouldn't hesitate to give you a call back when i mess up again. Great Service, Great Lawyer. Couldnt ask for more. Thank You Guys Once Again.
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Saved my life twice!!
, Jul 13, 2016
Yo ELSA, estoy muy agradecida y muy feliz de haber escogido como mi abogado. Es un buen y excelente preparado e inteligente ABOGADO. Trabaja muy profesional y consciente igual todo su personal que trabaja en su oficina. Me ayudó mucho con mi Caso. Lo recomiendo a cualquiera persona que necesita sus servicios de un buen ABOGADO.
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Like to thank u for your profession and with my traffic ticket
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