"Equitable distribution" means that assets and liabilities should be divided fairly between the spouses.
A spouse's interest in a law practice can be one of the most valuable assets to that couple.
When trying to divide the value of a law practice in a NJ divorce case, the Court takes into account many factors as it struggles to determine what is "fair" under the facts of that particular case.
This means that the Court must consider the value of the practice and the contributions made by both spouses.
The value of a law practice can be difficult to determine, as it is often tied up in both tangible and intangible assets.
For this reason, it is important to have the law practice appraised by a professional valuator.
The valuator will provide a forensic calculation of the law practice's worth, which can then be used to negotiate a settlement or as a basis for the Court to make a determination (if the case does not settle and must go to trial.)
One option for dividing a law practice is for the lawyer spouse to buy out the other's share.
This can be done through a lump-sum payment or through a payment plan over time.
If you are considering separating or filing for divorce, the most important thing for you to do before doing anything else is to learn how to protect yourself, your children, and your assets.
I'll show you how you can do it.
I've specialized in New Jersey divorce law for 37 years, and I've successfully represented both lawyers as well as spouses of lawyers.
I "get it" and I'm here to help.
The NJ Divorce School will teach you how to turn your situation around to your advantage.
Every divorce case is different. My emails will teach you, in an easy to understand way, everything that you need to know to help you make the right decisions based upon the particular facts of your situation.
I get emails from strangers all the time thanking me for making this information available to them online at no cost, and I'm pretty certain that you, too, will get a lot of value from my emails.
And if you want to stop the emails, I made it really easy for you to do that... one click on any email stops the course.
But few people do that...because the material is really helpful to anyone who is even just beginning to think about getting a divorce here in New Jersey.
Are you ready to start turning things around?
The next move is up to you...!
Click the link above and begin learning how to get the "edge" in YOUR New Jersey divorce case.
Until next time,
Steve
Steven J. Kaplan, Esq.
Specializing In Divorce
In Monmouth County
5 Professional Circle
Colts Neck, NJ. 07722
www.KaplanDivorce.com
(732) 845-9010