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Divorce courts practice equitable distribution in New Jersey

| Jul 31, 2020 | Divorce

Splitting up assets during the dissolution of a marriage can no doubt be a complicated endeavor. This is especially the case when two individuals have many shared assets to divide. However, an applied understanding of how asset division is handled in New Jersey may help to make this aspect of the divorce process easier going forward.

For starters, New Jersey adheres to the principle of equitable distribution. Based on this principle, courts divide a divorcing couple’s marital assets in a manner that it deems equitable. Equitable does not mean equal, so one party may end up receiving more in assets than the other person does. As an example, one party may walk away from the divorce with 65% of the marital assets, thus leaving the other party with 35% of the marital property.

How much the divorcing spouses receive as part of the marital dissolution process ultimately depends on several factors. For instance, family law courts may look at the number of years that the two people were married. In addition, they may consider child custody, the two people’s monetary statuses and living conditions.

If the two divorcing parties are able to find common ground when it comes to property division, they can produce their own settlement agreement regarding property division. This process tends to be less stressful than going to trial. However, an attorney in New Jersey will be prepared to litigate asset division for a client if reaching an agreement outside of court proves to be impossible. The attorney will push for a personally favorable outcome for the client, keeping his or her best interests at the center of the divorce proceeding.