Jersey City Property Settlement Lawyer
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At Freeman Law Center, LLC, we work in a variety of legal fields on behalf of the people and businesses throughout northern New Jersey.
Mr. Freeman represented me in a child custody case during the beginning of difficult times of Covid. As a father, I was at first worried about what the outcome of the case Maybe. However, Mr. Freeman assured me he would get me my rights.
Thanks to knowledgeable Mr. Freeman and his professional staff, I was granted my rights. Cindy & Mr. Freeman were able to answer all my questions without delay. Highly recommend!
SAM BEAST
I was fortunate to retain Brian to represent me in my divorce case. He was aggressive in court and fought hard for me to protect my relationship with my daughters. This was a bitter and nasty fight but he was more than up to the task. In the end I felt like I won the war.
In my opinion he is a great lawyer and very compassionate, I would recommend to anyone who needs a divorce lawyer.
CLIENT
If you need a great family lawyer I recommend the freeman law center without hesitation. My life was a complete shambles because of the divorce I had to go through I didn’t know that i could feel so bad. The efforts that I received from Brian was outstanding and I can’t put in words how much I appreciated the way I was treated by his staff.
Their slogan “Quality and Commitment” was not just words it was action.
RON THATCHER
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Jersey City Property Settlement Lawyer
Do you no longer wish to live with your spouse? Unfortunately, New Jersey does not recognize legal separation. Our Jersey City property settlement lawyer can walk you through your options. Contact our New Jersey office today to set up a free confidential case evaluation.
The state of New Jersey does not recognize legal separation. So, if a couple wishes to live as a separated couple, what options do they have? A property settlement is a straightforward way for couples to divide their assets and legally document decisions made about parenting. A property settlement agreement offers couples a convenient way to live as a legally-separated couple and avoid divorce, if desired.
To schedule a free consultation with our Jersey City Property Settlement Lawyer at the Freeman Law Center, LLC, call us today at (201) 479-9780
Property Settlements
The following types of property can be divided through a property settlement:
- 401(k)s
- Stocks
- Pensions
- Bank accounts
- Real estate
- Other property
A property settlement can address such legal issues as child support, a child’s education, alimony, medical expenses, tax deductions, who has the kids for the holidays, and others. For all practical purposes, a property settlement can yield the same results of a divorce, without actually getting a divorce.
At Freeman Law Center, LLC, our Jersey City Property Settlement Lawyer assists couples in dividing their property whether they are getting a divorce or not.
Equitable Distribution of Assets
Unlike divorces of the past where a 50/50 split of assets was common, couples now have the option to divide their property equitably. This type of property division accounts for both marital and non-marital property, and property each spouse owns individually.
- Marital property (or community property) is any property acquired during the marriage, starting on the day of the wedding.
- Non-marital property is property acquired by each spouse before the date of marriage. Non-marital property can also include assets acquired during the marriage by gift or inheritance.
We offer a variety of divorce services, and are ready to assist clients with the most difficult of property division issues. With over 30 years of experience, Jersey City Property Settlement Lawyer Brian Freeman provides solid and experienced counsel to clients throughout the Jersey City area.
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Property Settlement FAQs
What is equitable distribution in a New Jersey divorce?
Equitable distribution is the legal process of dividing marital property and debt in a New Jersey divorce. “Equitable” doesn’t necessarily mean “equal” — the court considers factors like the length of the marriage, each spouse’s income and earning capacity, and each spouse’s contributions to determine a fair division.
How are marital assets and debts defined?
Marital assets and debts are those acquired by either spouse during the marriage, regardless of whose name is on the title or account. Assets or debts acquired before marriage, or through inheritance or gift, are generally considered separate property.
How are retirement accounts divided in a divorce?
Retirement accounts like 401(k)s and pensions are typically marital property subject to equitable distribution. To divide these without a tax penalty, the court issues a Qualified Domestic Relations Order (QDRO) directing the plan administrator to transfer a portion to the other spouse.
What is a Marital Settlement Agreement?
A Marital Settlement Agreement (MSA) is a legally binding contract outlining the terms of the divorce, including division of assets and debts, alimony, child support, and custody. It’s often the result of negotiation or mediation and must be court-approved before the divorce is finalized.
What happens if a spouse hides assets during a divorce?
Hiding assets is illegal and can result in severe penalties — the court can award the other spouse a larger share of marital assets, and the dishonest spouse may face sanctions. The discovery process can help uncover hidden assets.
Can a prenuptial agreement be challenged?
Yes. A court may invalidate a prenup if it wasn’t entered into voluntarily, if a spouse wasn’t given reasonable opportunity to review it, or if the agreement was unconscionable.
What is dissipation of marital assets?
Dissipation refers to a spouse using marital funds for a non-marital purpose, such as an affair, gambling, or drug use. The court may award the other spouse a credit for the dissipated funds when dividing the marital estate.
Contact Our Jersey City Property Settlement Lawyer
To schedule a free consultation contact us online or call us today at (201) 479-9780