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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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Excellent service.
, Apr 1, 2017
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!
, Jan 25, 2017
Great job , thank you very much, I'm glad I found you,
, Oct 22, 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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, Mar 2, 2017
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, May 8, 2016
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, Jan 4, 2017
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, Jan 26, 2017
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, Jun 17, 2016
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, May 24, 2016
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, Aug 3, 2016
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, Jul 19, 2016
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, May 16, 2016
Excellent service would recommend to others
, Feb 7, 2017
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, May 21, 2016
He helped me fight a battle that I put off for years. Thank you so much for your services.
, Aug 31, 2016
very satisfied with the outcome. You did a very good job
, Dec 26, 2016
MaryanN and Jasmine both very helpful and professional. Jonathan Kessous very professional. Would recommend the firm.
, Aug 5, 2016
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, Oct 7, 2016
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, Jun 13, 2016
My lawyer Pat was very efficient on my case and I definitely give GGL 5 stars
, Oct 23, 2016
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, Jun 16, 2016
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, Apr 2, 2017
I was satisfied, and the service was very good, my lawyer was very professional and did a great job.
, Feb 3, 2017
The representation this firm did to me was above and beyond what I expected to receive. Especially Mr. Grabler who was extremely professionals. I was very proud to have him as my lawyer. For this reason I recommend this firm to everybody.
, Jul 19, 2016
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, Jun 14, 2016
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, Jul 21, 2016
Excellent Lawyers and paralegals. They kept me informed and updated on the progression of my case. I was pleased and will be referring others to them. Outstanding customer service.
, Jul 22, 2016
Great practice they always get the job done for a reasonable price.
, Feb 3, 2017