What Happens if One Spouse has Substantial Debts or Liabilities in a High-Income Divorce in New Jersey?
In New Jersey, divorce proceedings can become complex, particularly when one spouse has substantial debts or liabilities. Here’s what might happen in such a scenario: Equitable Distribution: New Jersey follows the principle of equitable distribution, which means that marital assets and debts are divided fairly, but not necessarily equally, between the spouses. This includes debts…