A balance system for implementation within an engine crankcase, as well as an engine employing such a system and a method of balancing forces as performed by such a system, are disclosed. In at least one embodiment, the balance system includes a crankshaft with at least one eccentric portion and a counterbalance assembly having at least one connecting arm and a counterbalance weight with first and second ends, where each of the at least one connecting arm includes a respective circular orifice that is positioned around and supported by a respective one of the at least one eccentric portion. The balance system further includes first and second hinged arms rotatably coupled proximate the first and second ends of the counterbalance weight, respectively, where the arms at least indirectly link the ends of the counterbalance weight to a portion of the engine crankcase and guide movement of the counterbalance weight.