Property & Equitable Distribution Attorneys in Ocean County, NJ
Fighting for Fair Property & Asset Division
The division of property and assets is a major aspect of divorce and family law. The state of New Jersey is an equitable distribution state, meaning that the court divides property, assets, and liabilities between you and your spouse in a manner that it deems fair. When dealing with this aspect of your divorce, it is essential that you have the assistance of a skilled Ocean County property division lawyer on your side. At New Jersey Family Law Group, we strive for a fair outcome on your behalf when dealing with marital asset distribution. We provide the strong legal representation you deserve, coupled with compassionate and objective advice throughout the process.
Contact us today to learn more about how we can help you with property and equitable distribution after divorce.
How Are Assets Divided in a New Jersey Divorce?
When deciding upon the distribution of assets, the court looks at a variety of factors. These are taken into account in order to determine what distribution arrangement is fair for both parties involved.
When determining the fair distribution of marital assets, the court looks at the following factors:
- The length of the marriage.
- The respective ages of both spouses.
- Each spouse’s physical and emotional health.
- If there are any children involved.
- The income and assets each spouse brought to the marriage.
- Any debts and/or liabilities each spouse brought to the marriage.
- The marital standard of living.
- The financial earning power of each spouse.
In addition to these, other factors may be considered in determining a fair property and asset distribution judgment.
What Is Marital Property in NJ?
In New Jersey, property acquired during the marriage is considered marital property. Property acquired before marriage or as a gift/inheritance is considered separate property.
Is New Jersey a 50/50 Divorce State?
New Jersey follows a system of equitable distribution. This means that the court divides assets in a manner it considers to be fair and reasonable, which may not necessarily be a 50/50 split.
Who Gets the House in a NJ Divorce?
If the home was purchased during the marriage, it will be considered “marital property” and subject to equitable distribution by the New Jersey court. However, if one spouse owned the house before marriage and did not put the other spouse’s name on the title/mix up ownership, then the house may be considered separate property and will not be subject to equitable distribution.
At New Jersey Family Law Group, our experienced Ocean County asset division lawyers can help you through every step of the divorce process. We work tirelessly for the best possible outcome in your unique situation. We work to obtain favorable outcomes for clients involved in high-net-worth, complex, and litigious cases.