Top Ways an Attorney Can Protect Your Interests in a Settlement Agreement for Equitable Distribution

The decisions you make in a divorce can have far-reaching consequences. Divining your assets, for instance, can impact your life in a way that lasts years. An attorney who understands equitable distribution laws can help you safeguard your rights throughout this process. Equitable distribution is a legal process that courts use to distribute property and debt during divorce proceedings.

Negotiating a Fair Settlement

A divorce can result in significant and far-reaching consequences for the lives of the spouses involved. Decisions made during the process can impact how assets are accumulated, divided and maintained in the future.

You can negotiate these complex situations and protect your rights with the assistance of an accomplished equitable distribution lawyer. If spouses cannot agree on dividing assets and debts, they must file for a hearing with a Master in Equitable Distribution. The Master will work with both parties and their attorneys to help them identify, classify and evaluate the property that must be distributed in the case. It is common for spouses to dispute the value of specific properties, especially those acquired before marriage or through gifts or inheritance. An experienced attorney can ensure the court considers all relevant factors in a case involving equitable distribution. The goal is to leave the court with a fair and just outcome for both parties.

Defending a Claim for Equitable Distribution

Equitable distribution is a part of the divorce process and can be highly contentious. Spouses often accumulate significant assets throughout their marriage and must decide how to divide them as part of a property settlement agreement or through equitable distribution proceedings in court. However, the process can become complicated and contentious when spouses disagree over whether certain assets are marital or separate property or how much an asset is worth. An experienced settlement agreement Red Bank NJ attorney can help protect your rights throughout the equitable distribution process, including identifying, classifying, valuing and dividing assets. Your attorney can also explain the various fair distribution statutory factors that a judge will consider in an equitable distribution ruling. 

Defending a Claim for Child Support

The amount of child support is determined by a standard formula that considers both parents’ salaries, the number of children involved, and some expenses like daycare and health insurance.  If your ex fails to pay court-ordered child support, you can file a complaint with the state’s Child Support Enforcement Agency. The agency can take several steps to collect outstanding payments, including wage garnishment, intercepting tax refunds or even seizing property from the non-paying party and selling it to cover past due amounts. An attorney can help you negotiate an equitable settlement for your divorce that is fair to both parties and reflects your children’s needs. Full financial disclosures are essential to create a transparent negotiation process and an accurate valuation of assets. Provisions for dividing debts and tax considerations can also be included in your settlement agreement to minimize disputes. Moreover, your child support lawyer can help you modify an existing order in light of a change in circumstances.

Defending a Claim for Alimony

A trial must be held unless the parties agree on property and alimony. This is an expensive proposition and should only be undertaken with significant value on both sides of the partnership. An equitable distribution master or a divorce court judge will conference with attorneys and spouses to help resolve disputes about identifying the assets, classifying the assets, valuing the support, and distributing the assets. These steps are very complex and often require the assistance of specialists such as accountants, appraisers and valuation professionals. A carefully written MSA will clarify which property is separate or marital and what the agreed value of each item is. Ideally, it will also address the circumstances under which alimony will end (emancipation or death) and provisions requiring life insurance to secure spousal support payments. A good attorney will not open anything to interpretation or a future dispute. This will save money in the long run.