What is Equitable Distribution in NJ?
Equitable distribution is the process by which the Court (or the parties by agreement) divides both marital assets and debt upon divorce. The authority for the Court to do so is provided by N.J.S.A. 2A:34-23.1, which directs the Court to consider a host of factors in its analysis.
These factors include:
- The number of years the marriage lasted
- The age and health of both spouses
- The income and assets that both spouses brought to the marriage
- The standard of living that was enjoyed by both parties during the marriage
- Any pre or postnuptial agreements signed by both parties concerning property division (if any)
- The economic circumstances of each spouse once the property division goes into effect
- The current income and earning capacity of each spouse (including access to training, education, etc.)
- The contributions each spouse made to one another’s education, training, or earning power
- The contributions each spouse made to the value of the marital estate (including homemaking)
- The tax consequences or liabilities each spouse would take on in the property division
- The current value of the marital property
- Any child custody considerations (such as the custodial parent needing the marital residence)
- The debts each spouse has incurred over the course of the marriage
- Any current or future needs to create a trust fund for either spouse or a child
- The extent to which either spouse deferred achieving their career goals
- Any other factors which the court finds relevant to equitable division
If you are facing a divorce and have concerns about equitable division, then the time to speak with a proven Livingston matrimonial lawyer is now. Contact Ziegler Law Group LLC at (973) 533-1100 today.
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If there’s one thing our divorce lawyers have learned over our decades of combined legal experience, it’s that no two cases—no two couples or families—are the same. That is why Ziegler Law Group LLC is dedicated to a personalized approach to divorce representation. At our firm, our family law attorneys never lose sight of the individuals behind our cases and partner with these clients as they face this turbulent time. We listen to their goals and concerns and proactively seek favorable results on their behalf both in and outside the courtroom. At Ziegler Law Group LLC, our clients and client families can always rest assured that their interests and well-being will remain an absolute priority as we help navigate them towards a brighter phase of their lives.
You do not have to face this uncertain time without a zealous and compassionate advocate by your side. Schedule a consultation with a divorce lawyer in NJ today. In addition to Livingston, we also have a location in Hackensack, NJ.
