How Is Property Divided In Divorce?
In New Jersey, marital property is the debt and assets a married couple has acquired over the course of their marriage. All marital property will need to be examined and distributed to one party or the other before the divorce can be final. Knowing how property will be divided should be a key consideration for anyone planning to end their marriage.
Fair May Not Always Be Equal
Equitable distribution, sometimes called division of property, is the legal division of marital property. Unlike some states, New Jersey does not require the distribution to be an equal 50-50 split, it only requires the division to be fair.
The attorneys at Diamond & Diamond, P.A., bring over 50 years of experience to the table when we advocate for our clients and their assets. We will aggressively negotiate to win a fair share of marital property. Our clients can rely on us to never hold back when it is time to fight to preserve assets ranging from a sole proprietorship to a sentimental antique.
Individuals often don’t consider the breadth of their assets that may be at stake during a divorce. Even if they personally purchased an item during their marriage, it will most likely be subject to equitable distribution. When assets are being distributed, they include but are not limited to an individual’s:
- Marital home
- Vacation home
- Investment accounts
- Retirement accounts
- Business property
- Rental property
Courts take several factors into account when dividing property. Diamond & Diamond, P.A., will leverage these factors and our client’s individual circumstances to give them the best chance possible at being awarded their rightful marital property.