The division of marital assets is called equitable distribution. It is the goal in New Jersey to divide all assets (and debt) equitably, meaning not always 50/50. This means that marital assets and debts are distributed between the parties based upon the Court’s consideration of 16 separate factors set forth in the New Jersey Statute governing equitable distribution. The weight that the Court gives to each of these factors is within the discretion of the Court. Among these factors are:
- The duration of the marriage
- Age, physical and emotional health
- The income and property brought to the marriage
- The standard of living enjoyed by the parties
- Premarital agreements
- The earning potential of the parties
- The contribution by the parties to the education, training or earning capacity of the other party
- The tax consequences of the proposed equitable distribution scheme
- Need of a party who has custody to retain marital residence
- Debts and liabilities of the parties
Our Matrimonial attorneys are experienced in addressing the equitable distribution of different types of assets including high net-worth investments and self-employed business owners. We work, when necessary, with expert accountants, economists, actuaries and vocational experts. We stay on top of the most recent developments and trends in case law and our attorneys are used by the Courts to assist during Early Settlement and Blue Ribbon panels to help advise litigants based on the experience of our seasoned attorneys.
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