(201) 925-8148 larry@divorcebybloom.com

Asset Division

Welcome to Lawrence H. Bloom, Esq.’s website. The Asset Division page provides information regarding New York and New Jersey’s “Equitable Distribution Law”, as it relates to the divorce process. With more than 30 years of successful experience in Family Law, we have effectively handled domestic matters related to divorce, division of assets, alimony, child support, paternity, custody and visitation. Divorce is an emotionally draining process where spouses are sometimes competing for financial resources. Our firm knows how to uncover hidden assets and assess the “real” value of the marital estate. We are committed to ensuring that our
clients receive an objective, detailed picture of marital finances to provide the best negotiating position. However, if negotiations fail, we also have the skill and resources to aggressively represent your financial interests.

When spouses agree on the division of property, the arrangement is documented in a separation agreement. For those unable to reach an amicable resolution, the court is left to determine the fair division of marital assets. Courts view marriage as a civil partnership that is similar to a business partnership – partners share equal interest in ownership and
liabilities. So when a marriage partnership ends in divorce, assets including stock plans, 401K plans, stock options, real estate, bank accounts, and cars owned on the date of separation must be equitably divided. Any marital liabilities such as credit cards, loans and any other form of debt must also be reasonably divided.

Typically, spouses in the throes of divorce are not prepared to objectively consider settlement offers, counter offers and the complex rules associated with different types of investments. Many partners accept financial terms to expedite the divorce process and then find themselves in financial crisis at a later date. Lawrence H. Bloom appreciates the pressures that
vulnerable spouses are experiencing during separation and divorce, and it is our job is to protect you and your interests. We will investigate and carefully evaluate all marital assets to determine their value. We will define joint property and fight for your right to that property. If you believe that your spouse may be transferring joint assets out of your name, hiding assets, or if your spouse has hired a lawyer, it is especially important that you have expert legal representation.

How does the court determine a fair and reasonable distribution? Under New York and New Jersey law the following factors are considered:

Duration of the marriage,
Age and health of the partners,
Custodial responsibility,
Estate of the spouses,
Occupations of each partner,
Vocational skills and ability to obtain employment,
Prospects for each of the spouses to acquire future income and assets, and
Tax consequences.

The help of an attorney who specializes in Family law can make a valuable difference in property distribution and other complex divorce issues. Lawrence H. Bloom, Esq. can offer proactive advice based on years of experience in the Family Law judicial system. We can help you work harmoniously with your spouse towards an amicable divorce and we can be
aggressive if negotiation is impossible. Our firm’s reputation is based on a balance of legal expertise, sensitivity to client’s needs and the vigorous representation of our clients’ financial interests and welfare. Call us in New York at (212) 964-3502 or New Jersey at (201) 925-8148. We can also be reached via email at Larry@divorcebybloom.com

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