Princeton NJ Property Division Attorneys
Dividing your property during a divorce can feel overwhelming. Deciding the fate of the family home or handling complex assets can quickly turn into a stressful, confusing, and emotionally draining process. From cataloging, locating, to the process of dividing marital estate is daunting to say the least.
At Petrelli Previtera, LLC, we understand what you’re going through. Divorce is never easy, and when property division enters the picture, it can become even more complicated. But you don’t have to face this alone.
Schedule a consultation with our Princeton, NJ property division lawyers to guide you and secure the fair outcome you deserve.
Why Choose Our Property Division Lawyers in Princeton, NJ?
Choosing the right lawyer can significantly impact how smoothly the property division process goes during a divorce. At Petrelli Previtera, LLC, we focus on providing compassionate, personalized legal support. We understand that this is more than just a legal battle—it’s about your life, your future, and your peace of mind.
While property division is governed by law, our dedicated team can help you navigate the process and clarify what to expect. We’ll assist you in identifying often-overlooked marital assets, such as retirement accounts, assets purchased under one spouse’s name, and even hidden assets like cryptocurrency.
Additionally, we address complex issues, such as the value of advanced degrees and contributions to one spouse’s separate property that may require reimbursement. If you have a prenuptial or postnuptial agreement, we’ll also explain how it may affect the division of assets.
We are committed to helping you understand every step of the process, and empowering you to make informed decisions for you and your family.
The Law on Property Division in Princeton, NJ
In New Jersey, property division follows ‘equitable distribution’ (N.J.S.A. 2A:34-23.1). Unlike some states, New Jersey’s law does not automatically divide marital assets 50/50. Instead, the courts aim to divide property fairly, considering:
- Duration of the marriage
- Financial circumstances of each spouse
- Contributions made by each spouse to their careers
- Value of the marital assets
The goal is fairness– not strict equality. This means one spouse may get more assets, but the distribution is fair based on the factors outlined above.
Equitable distribution ensures that the division is fair, whether you’re dealing with the family home, savings, debts, or business interests.
Our award-winning property division attorneys are well-versed in this law. Whether you’re dealing with the family home, savings, debts, or business interests, they’ll fight tooth and nail to see to it that ‘fair’ applies to the property you get after divorce.
Types of Assets We Help Divide in Princeton, NJ
Property division in Princeton focuses on marital property. This is any property – assets and debts – you acquired during the marriage. Some of the most common items divided are:
- Family Home – The court may decide whether one spouse stays in the home or if it should be sold and divide the proceeds among the spouses.
- Retirement Accounts – These include pensions, 401(k)s, and IRAs earned during the marriage can be split between spouses.
- Vehicles – Cars, boats, or recreational vehicles purchased during the marriage are also part of marital property.
- Digital Assets – Digital properties, like cryptocurrencies, online investments, or digital business accounts, can be tricky to divide, but they are part of the marital estate.
- Investments – Stocks, bonds, and other investments made during the marriage are also divided between spouses based on their value.
- Wages and Income – Any income earned during the marriage, whether saved or invested, is considered marital property and is subject to division.
- Real Estate – Any other real estate properties, such as vacation homes or rental properties, are included in the division of assets.
- Debts – Just like assets, marital debts, like credit card bills and mortgages are divided between spouses.
Our property division lawyers will work closely with you to define all assets and determine which ones qualify as marital property. We ensure that every relevant asset is considered during your marital settlement, helping you achieve a fair and comprehensive division.
We Also Handle High-Asset Divorce Cases In Princeton, NJ
High-asset divorces are more than just splitting property due to the large amounts of wealth involved. These situations often involve complicated financial issues that need extra care and attention.
- Accurate Valuation of Assets – It’s important to determine the true value of all the property and investments to ensure everything is split fairly.
- Full Financial Disclosure – In high-asset cases, it’s easier for someone to hide money or investments. So it’s important to double-check that the spouses have disclosed everything.
- Complex Property Division – Dividing property in a high-asset divorce is more complicated because there are often multiple homes, businesses, and investments.
- Child Support and Alimony – Child support and alimony are usually higher In high-asset divorces because of the larger financial resources available. The court looks at the standard of living the family had during the marriage when deciding the amount.
- Privacy and Discretion – High-asset divorce cases often attract more attention, so many people prefer to keep their personal and financial details private. As such, spouses might consider:
- Mediation and Collaborative Divorce – These methods can help settle things peacefully without going to court to keep the process private and less stressful for everyone involved.
- Structured Settlements – Involves planning how to divide the property over time, making the divorce process smoother and more predictable.
If yours is a high-asset divorce, you can rest assured that Petrelli Previtera, LLC, has the experience to handle the complex property division. We work with financial experts to accurately value your assets, ensure full disclosure, and protect your privacy.
We’ve Been Helping Our New Jersey Clients with Property Division Complexities
Property division is often among the most challenging areas of divorce. However, certain instances make the situation even more challenging:
- Hidden Assets – Some spouses hide assets in offshore accounts, underreported income, or concealed real estate to avoid splitting them. For instance, our firm has worked with clients who have marital assets in cryptocurrency or who own cash-based businesses. We collaborate with forensic accountants and financial experts to uncover these hidden assets, ensuring you receive your fair share.
- Commingled Property – If separate property has been mixed with marital assets, it can be hard to tell what belongs to whom. We’ll work with you to trace, classify, and separate these commingled assets to help you get what’s rightfully yours.
- Business Valuation – If you or your spouse own a business, it must be valued properly before it can be divided. We work with business appraisers and valuation experts to determine the true value of the business, including intellectual property, investments, and future earning potential.
- Retirement Accounts – Dividing retirement accounts such as 401(k)s, IRAs, pensions, and military retirement benefits, can often be one of the largest asset considerations in a divorce. This process can involve complicated tax penalties and long-term financial consequences, especially when the account is solely in one spouse’s name. We’ll consult with you on various methods to divide these accounts in a way that avoids negative tax implications.
- Debts – Just like assets, marital debts need to be divided fairly, which can cause disputes about responsibility. We’ll ensure the debt is shared fairly and protect your credit and finances.
These challenging issues require careful planning, attention to detail, and strategic problem-solving. Our property division lawyers in Princeton, NJ will do exactly that! We approach each issue with an effective plan to ensure fair and lawful property division.
What about Prenuptial and Postnuptial Agreements?
Marriage is a joyous occasion, but it’s wise to plan for the unexpected. Prenuptial and postnuptial agreements can help reduce stress and confusion if circumstances change.
At the time of property division, if you and your spouse have had a marital agreement (either pre or post) that impacts how the estate is divided, we work with you to understand how the division will work in your specific case. Our team can help defend, enforce, or object to the terms of the agreement as needed.
FAQs on Property Division in Princeton, NJ
How do courts in Princeton, NJ approach the division of marital property?
The courts follow a three-step process to divide property during a divorce, based on New Jersey statute N.J.S.A. 2A:34-23.1:
- Identify eligible property
- Assign a value to the property
- Equitably distributing the property
Can I keep my separate property?
Yes, you can. Separate property is what you owned before the marriage or inherited during the marriage. These are usually not divided unless they’ve been commingled with marital property.
Can I still own our matrimonial home if its deed doesn’t carry my name?
Yes, you may still have rights to the matrimonial home even if your name is not on the deed. If you bought the home during the marriage, it’s considered marital property in New Jersey.
Our Award-Winning Property Division Attorneys Are Ready To Help
The divorce is challenging enough without throwing in the issue of property division. At Petrelli Previtera, our attorneys understand this and are dedicated to helping you achieve a fair outcome.
We’ve been recognized with multiple awards and accolades for our exceptional legal services, reflecting our commitment to excellence in property division.
Don’t face this challenge alone; schedule a consultation and let our award-winning team guide you through the process.
You can also visit:
475 Wall St,
Suite 214
Princeton, NJ 08540
(609) 917-9560
Meeting Location: By Appointment Only
