[Property Distribution] Protecting the Rights of a 20-Year Homemaker: Securing Retirement Funds and Business Interests
Case Overview: A female client in her 50s, residing in New Jersey, decided to divorce after 20 years of marriage. As a stay-at-home mother, she had devoted herself to the household and raising children while all major assets—including the family home, her husband’s professional practice, and a substantial 401(k) retirement account—were held solely in her husband’s name. The husband argued that since she had no direct income, she was not entitled to any portion of his business or retirement savings.
Song Law Firm’s Strategy: Our Family Law team utilized the principle of “Equitable Distribution” under New Jersey law. We argued that the client’s domestic contributions provided the essential foundation that allowed the husband to focus on his career and grow his business. We collaborated with forensic accountants to perform a business valuation (Goodwill) and prepared a Qualified Domestic Relations Order (QDRO) to ensure a tax-advantaged transfer of retirement funds.
The Result: The court upheld our argument, granting the client 50% of the home equity, a significant share of the business’s increased value during the marriage, and half of the retirement assets. This allowed the client to transition into her new life with total financial security.
[Contact Us]
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KakaoTalk: Song Law Firm
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Phone: 201-461-0031
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Email: mail@songlawfirm.com
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Website: www.songlawfirm.com
[Disclaimer] The information provided here is for general informational purposes only and does not constitute legal advice. Results may vary depending on the specific facts and circumstances of each case. Please consult with a professional attorney for guidance on your specific matter.
Keywords: NJ Divorce Attorney, Property Distribution NJ, Equitable Distribution, Homemaker Rights, QDRO, Business Valuation Divorce, Retirement Division, Song Law Firm.
