In any divorce, a couple will have to determine how they want to split their assets and liabilities. The New Jersey court system, along with many other states, uses a process known as equitable distribution to accomplish this. Equitable distribution is simply the process by which assets and debts are divided in a divorce. This process can quickly become complicated because while technically the only assets or debts to be divided are those that were acquired during the course of the marriage and are considered marital property, there are instances where property that was acquired before the marriage can be divided as well.

There are many different factors that the court takes into consideration when determining how they can divide property in the most fair and just manner. Some of these factors include:

  • The length of the marriage
  • The age and health of each spouse
  • The debts and liabilities of each party
  • The tax consequences that each party will face
  • The value of the property
  • The contribution of each party

One factor that often creates some confusion is what “equitable distribution” actually means. Dividing property equitably does not mean that the property will be divided evenly. The court has every right to divide assets and liabilities in a disproportionate way, depending on the various factors listed above.

If you have questions about how property is divided in a New Jersey divorce, contact our firm today.

If you require strong legal representation for matters of divorce and family law, contact The Law Offices of Paone, Zaleski & Murphy to schedule a consultation with one of our experienced attorneys today.