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Distribution of Assets

Distribution of Assets

When parties divorce, the law requires an equitable — but not necessarily equal — distribution of the assets and liabilities that arose during the marriage. In New Jersey, after a divorce complaint is filed, both parties will be required to fill in a Case Information Statement (CIS). This is a very detailed documentation of all income, assets, and liabilities. It is a discovery tool for financial evidence needed to determine alimony, child support, and equitable distribution.

One of the biggest assets or liabilities can be the marital home. Usually, both parties are on the mortgage and will no longer both want to remain liable for the mortgage payment. Similarly, joint credit cards and any other jointly held instruments can bind both parties until they are paid off.

If the mortgage is more than the house is worth, it is called being “under water.” Both parties named on the mortgage are responsible for it. Choices have to be made about whether or not to sell the house, whether bankruptcy is an option, or if one party can afford to buy the other out. Tanya N. Helfand, Esq. is also a bankruptcy attorney and can analyze the options available.

In all aspects of law, the accuracy and availability of evidence is important. Tax returns are helpful, however, in cases where there are businesses, corporate benefits, stock plans, and pensions, an expert may be needed to be sure the asset or debt is correctly identified.

People sometimes do not have all records or do not voluntarily make them available. The lawyers must then use the courts and other techniques to compel the production of the financial evidence needed. It is very important that the evidence gathered is thorough. This is done through use of persistent legal businesslike methods to ensure that the result will be fair to our clients.

Helfand & Associates diligently follows through to get all the information needed for the financial aspects of divorce.

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Our Offices
  • Whippany Office
    575 Route 10 East
    Suite 1
    Whippany, New Jersey 07981
    Phone: 973-428-0800
    Fax: 973-428-0830
  • New York Office
    420 Lexington Ave.
    New York, New York 10170
    Phone: 646-213-9053
  • "Without Tanya and her time, the really unpleasant experience of getting divorced would have been even worse. They were able to settle the matter very quickly and helped me fit this into my tight schedule allowing me to leave to move abroad for my dissertation research on time without having to delay the trip because of the divorce. They also did all of it within my very tight budget. Thank you so much for your help and dedication to my legal matter!"  - AG

  • "Tanya and her Associates are outstanding! What I admire most about Tanya is her knowledge of the law with her keen negotiation skills to foster mediation. Her strategies efficiently resolve conflict leading to the resolution of cases. She and her team have an outstanding work ethic, know what data are needed, and get the job done. It is a pleasure to work with such wonderful professionals."  - Tara, Whippany

  • "I found Ms. Helfand's knowledge and tenacity most reassuring during the ordeal of my divorce. She was steadfast in her guidance and was very effective in her negotiations on my behalf. I would recommend her without a second thought. "  -Jonathan

  • "Ms. Helfand was very professional and helpful with our bankruptcy case. Her advice was very useful and helped us make the proper decisions for our situation. In addition, she was very supportive during a very difficult time for us. Finally, she set very specific fee expectations and there were no surprises when it was completed. I would use her services again and would recommend her, without question."

  • "She is Incredible, very quick responding to the other party. Very professional and courteous. I highly recommend her. She has a great passion and love for every single case."

  • "Tanya and her team were very professional handling my divorce proceedings. She was very proactive in making the other attorney finally get the process moving forward. I would recommend her to anyone looking for legal services. "  -Scott

  • "Ms. Helfand strategized & processed, both, my Divorce & Chapter 13 Bankruptcy. As both cases were emotionally and legally challenging, Ms. Helfand proved to be an empowering Mentor along the path to clarity for which I am truly grateful. I highly recommend her legal expertise to anyone who is seeking a confident, savvy & caring attorney to become at peace with self and any legal matters."  -Vas

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