Equitable Distribution Attorney New Jersey
The State of New Jersey is a no fault state. Typically a Court would divide assets and debts equally. However, Family court is court of equity. So if a party has dissipated marital assets or if the other parties behavior rises to the level of being egregious or shocking, a court may assigned a larger amount of the estate to one party. There are other instances in which this may also occur.
When dividing property, N.J.S.A. 2A:34-23.1 dictates the factors in which a court would consider:
- the length of the marriage
- each spouse’s physical health, emotional health, and age
- any income or property either spouse brought into the marriage
- the standard of living the couple established during the marriage
- any written prenuptial or post-nuptial agreements covering property division
- each spouse’s overall economic circumstances
- each spouse’s income and earning capacity (ability to earn income based on education, training, experience, length of any absence from the job market, and custodial responsibilities for the couple’s children)
- the extent to which either spouse may have delayed pursuing career goals during the marriage
- any time and expense required for a spouse to acquire the education or training necessary to achieve a standard of living comparable to the marital standard
- any contributions either spouse made to the education or earning power of the other spouse
- any contribution by either spouse to acquiring, preserving, improving, or wasting marital property, including contributions as a homemaker
- the tax consequences of a proposed distribution
- the present value of all property
- the need of a parent with physical custody of a child to own or occupy the marital residence or use household effects
- each spouse’s debts and liabilities
- any present or future need for a medical or educational trust for either spouse or a child, and
- any other relevant factors.
It is important to meet with a NJ Divorce Attorney to discuss all of your marital property. Property that is premarital or inherited would need to be distinguished. The value of your assets would need to be determined as well as your debts. Call the Law Office of Regan A Barbetti to discuss all of your assets and debts so that you can determine not only what is equitable but what you can expect moving forward.
Contact The Law Office of Regan A. Barbetti, LLC Today
For the customized legal representation you need for your Equitable Distribution case, please contact us today. Our firm understands that each case is different, which is why we are always guided by the uniquely personal issues of each client and the various economic factors that exist.