New Jersey Equitable Distribution Attorney for Monmouth and Ocean County
Dividing a marriage’s assets is one of the most complex aspects of any divorce. Marital property can include a family home, a family business, investments, retirement funds, and valuable items such as cars and jewelry. Properly valuing these assets and then dividing them fairly is a difficult task that requires strategy and communication.
At Bronzino Law Firm, we help clients understand the property at issue and what New Jersey law provides. By communicating with you in a straightforward and informative manner, we can establish which marital property is a priority to you and how to negotiate for it. We serve clients throughout Monmouth County and Ocean County, including Manasquan, Wall, Asbury Park, Point Pleasant, Brick, and Toms River.
Call our Manasquan office at (732) 812-3102 for a free and confidential consultation about the division of your assets.
How Equitable Distribution Works in New Jersey
New Jersey is an equitable distribution state, which means that marital property must be divided in a way that is fair. This does not necessarily mean that assets will be split down the middle, because fair does not always mean equal. Spouses can reach their own agreement, or a court can decide the issue. The process generally involves three steps:
- Identify the assets. Determine which assets and debts are subject to distribution.
- Value the assets. Establish what each asset is worth, which may require a business valuation or a forensic accountant.
- Divide the assets. Allocate them in a way that is fair under the factors New Jersey law requires a court to consider.
Marital Property vs. Separate Property
Marital property generally includes assets either spouse acquired during the marriage, regardless of whose name is on the title. The date the divorce complaint is filed is generally the cutoff. Some property is usually kept out of the division, although each situation depends on its facts.
| Often Subject to Distribution | Often Not Subject to Distribution |
|---|---|
| Income and assets acquired during the marriage | Property owned before the marriage |
| Gifts between spouses | Gifts from third parties to one spouse |
| Retirement benefits earned during the marriage | Inheritances received by one spouse |
| Debts incurred during the marriage | Property acquired after the divorce complaint is filed |
Separate property can become harder to protect when it is mixed with marital funds, so it is important to keep records and raise these issues early.
Factors Courts Consider When Dividing Marital Property
Under N.J.S.A. 2A:34-23.1, there are 16 factors that courts consider when dividing marital property. Some of those factors include:
- The length of the marriage
- Any existing prenuptial or other written agreement regarding property
- The present value of the property
- The tax consequences of the proposed distribution to each party
- The economic status of each party at the time of distribution
- Each party’s contribution to acquiring marital property, including as a homemaker
- Either party’s contribution to the education or earning capacity of the other, such as supporting a spouse through school
Because so many factors are involved, valuation matters. If property is overvalued or undervalued, the agreement may not be as fair as it appears. For example, your home may be valued at a certain price, but current market conditions may make it difficult to actually sell for that amount. We can advise you on these issues before you commit to a settlement.
Assets and Debts Often Divided in a New Jersey Divorce
- Marital homes, vacation homes, and other real estate
- Family businesses and private business interests, including medical practices
- Retirement accounts such as 401(k) plans
- Stock options and executive compensation, which may involve a Callahan trust
- Debts from credit cards, student loans, mortgages, and other sources
- Bank accounts and items such as a joint tax refund
- Intellectual property
- Cars, furniture, paintings, jewelry, and other valuables
Each spouse must disclose assets and debts through the Case Information Statement. If you believe your spouse is not being truthful, learn more about hidden assets during divorce.
How We Help in the Equitable Distribution Process
Family law attorney Peter J. Bronzino combines a thorough understanding of the law with an understanding of your unique situation. For your specific case, our law firm can:
- Evaluate complex assets such as bank accounts, 401(k) and pension plans, business property, and real estate holdings
- Advise you on the long-term risks and benefits of keeping different marital assets
- Negotiate on your behalf and help protect you from disadvantageous proposals
- Work toward a fair settlement and a clear property settlement agreement
Equitable Distribution FAQs
Is New Jersey a 50/50 divorce state?
No. New Jersey requires an equitable division, which may or may not be equal. The result depends on the statutory factors or the spouses’ agreement.
When does property stop being marital in New Jersey?
Generally, property acquired after the divorce complaint is filed is not treated as marital property.
Is an inheritance marital property?
An inheritance received by one spouse is generally not subject to equitable distribution. How the money was used during the marriage can complicate the question.
Are debts divided in a New Jersey divorce?
Yes. Debts incurred during the marriage can be addressed as part of equitable distribution, although creditors may not be bound by the divorce agreement.
Contact an Equitable Distribution Attorney in Manasquan
Bronzino Law Firm helps clients across Monmouth and Ocean Counties negotiate, draft, and finalize marital property division agreements. By consulting with financial experts when needed, we help evaluate complex marital assets, investments, accounts, and debts.
Our small size allows us to develop personal and attentive relationships with our clients, while letting us charge fair and reasonable rates. We believe that honest and regular communication is the best way to keep clients informed and involved in the process.
To schedule a free and confidential consultation, please contact us online or call our Manasquan office at (732) 812-3102.
