In the case of Crews v. Crews, the principle was established in New Jersey that one is entitled to maintain a post-divorce lifestyle similar to that enjoyed during marriage. This principle weaves its way through all facets of divorce, particularly the issue of property division.
At the Joseph A. Fortunato Law Offices, our pursuit of justice and excellence means we take this principle to heart. Our lawyers create divorce strategies designed to maintain lifestyles and prevent any financial harm from coming to our clients, taking into account not only the marital assets and debts, but all other factors.
Equitable distribution refers to the fair, but not necessarily equal, distribution of marital assets and debts. The question of what is fair can be complex. It must take into consideration the totality of the circumstances, including the length of the marriage, the careers and earning capacities of each spouse, child custody arrangements, and more. Equitable distribution is closely tied to other financial aspects of the divorce, including spousal support.
An issue that is often overlooked, but which is particularly important in high net worth divorce cases, is taxation. Property division is more than simply determining how the family home will be disposed of. If the family home must be sold and the sale price divided between spouses, there will be a tax impact. That is only one basic example of the ways in which tax consequences can come into play in the area of property division.
Free Initial Consultation | Essex County Marital Asset Division Attorneys
Our experienced Montclair property division attorneys are as close as your phone: 973-866-5634. You can also reach us online by e-mail. We will accommodate your need for an evening or weekend appointment.