New Jersey Lawyers Are Experts in Marital Asset Distribution

Property division is one of the most complicated issues in divorce. This is especially true for long marriages, high net-worth couples, and blended families, though any couple can have a difficult time dividing assets and debts in an equitable manner. When you divorce, you must disentangle your life with your spouse, which involves separating from him or her not just physically and emotionally but financially as well.

Also known as equitable division, this is a judicial division of both obligations and marital assets between spouses when involved in a divorce case. This may be done through an agreement, through a property settlement, or by a judicial decree which is handed down by a judge.

What Is Considered Marital or Non-Marital?

The law in the state of New Jersey stipulates that the division of property is based on equitable distribution. This means that each spouse is generally granted his or her separate property or debt that was brought into the marriage—also included in this category as gifts and inheritances.

Property and debt that were acquired during the marriage will be allocated between the two spouses in an effort to reach a fair distribution. The court considers many factors when making its decision regarding property settlement, such as the overall length of the marriage, health, age, each party’s financial situation, and the potential earning capability of each spouse.

It’s important to remember that marital assets are only those acquired during the marriage. Generally, any property that was obtained prior to the marriage is considered “separate property” and would return to the owner. This can get complicated when assets are co-mingled during the marriage and therefore it is important to contact an expert family law attorney who can help you sort these assets out.

If you are filing for divorce, work with a divorce attorney who is experienced in this matter. At Edens Law Group, we have been practicing divorce and family law since 1994. Our legal team is adept at negotiating, mediating, and litigating fair asset distribution resolutions. If your spouse is attempting to circumvent your property rights, you can rely on our steadfast, aggressive representation.