Sep 9, 2025
Dividing Assets and Property in Divorce
The issue of Dividing Assets and Property in Divorce is among the most important and contentious issues that couples encounter during a divorce. It involves far more than just monetary value, especially for things like real estate and the house in which you raised your children.
To best jersey city divorce lawyer a fight over assets and property, it’s a good idea to review your entire list of assets before you get divorced. This includes everything from real estate, vehicles and bank accounts to investment assets and stocks. Also, you should try to estimate each item’s current value. Attempting to conceal any assets during a divorce is illegal and could cause you problems later.
Modern laws distinguish between separate property and marital property when dividing up assets during a divorce. Any property purchased before you got married is considered separate property. So is anything that you inherited or received as a gift. However, if you own a piece of property that increases in value during your marriage because of one spouse’s efforts, that increase in value becomes marital property and must be divided equitably.
Differences Between Fault and No-Fault Divorce
This is particularly important for things like retirement accounts, investments and real estate. It’s possible that liquidating these assets or changing their ownership will trigger significant tax liability, so it’s a good idea to consult with a financial advisor before attempting any transactions. If you and your ex can’t come to an agreement on how to divide up your assets, a judge will decide what happens. Judges in New York are required to make what they feel is an equitable and fair distribution of assets.
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