How Marital Assets Are Divided by the Court (When You Can’t Agree)
In the state of New Jersey, when you file for divorce, one of the more challenging tasks you’ll face is the division of marital property—the debts and assets accumulated during your marriage. If you and your spouse mutually agree on how to allocate things, the court will still review your agreement to ensure that there’s no indication of undue influence, misrepresentation, or coercion. If you cannot agree who will receive specific property and who will be obligated to pay certain debts, the court will make those decisions for you.
New Jersey has long applied the concept of equitable distribution to determine how a marital estate is divided. It’s important to understand, up front, that “equitable” distribution does not necessarily mean “equal” distribution. The court will attempt to create a property settlement that is “fair,” based on a wide array of factors, including:
- How long you have been married;What income or property each party brought into the marriage;
- The standard of living to which the parties were accustomed during marriage;
- The age and physical health of the parties at the time of divorce;
- The terms of a valid prenuptial or postnuptial agreement signed by both parties;
- The extent to which either party wasted or dissipated marital assets;
- The earning capacity of the parties at the time of divorce;
- The contribution either party made to the training, education, or earning power of the other party; and
- The need for one party to occupy the marital home, such as a custodial parent of minor children.
Contact an Experienced New Jersey Family Law Attorney
At the law office of David M. Lipshutz, we won’t take your case unless we know we can help. For a private meeting, contact our office online or call us at 856-627-1990. We are available to meet with you Monday through Friday, 9:00 A.M. and 5:00 P.M.
