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Judge gavel and two golden marriage ring Contract decree of divorce

Are Assets Split 50/50 in a New Jersey Divorce?

One of the primary considerations when filing for divorce in New Jersey is the division of assets. If you and your spouse can’t agree on property distribution, the court will have to intervene. As such, it’s crucial to understand how New Jersey courts address property distribution and the allocation of debts. Please continue reading to learn how assets are split during a divorce and how a proficient Ocean County Property Division Attorney can help guide you through these complex matters. 

What’s the Difference Between Marital and Separate Property?

For New Jersey courts to determine who walks away with what property in a divorce, they first must decide what’s considered marital vs. separate property. Establishing which property is marital vs. separate is crucial because the marital property is distributed between spouses in divorce, while each spouse typically keeps their separate property. Under New Jersey law, marital property is any assets that are acquired during the marriage, while assets acquired before the marriage are considered separate property.

It’s important to note that only marital property is subject to distribution in a divorce. However, separate property can mutate into marital property. If separate property is co-mingled with joint assets during the marriage, they will change to marital property, thus subject to distribution. When ruling on property division, the court will consider:

  • The duration of the marriage
  • The health and age of each spouse
  • The income and earning capacity of each spouse
  • How each spouse contributed to marital property
  • Any child custody considerations
  • Any other relevant factors

How Are Assets Split During a New Jersey Divorce?

Though many people assume that assets are split evenly during a divorce, this is not the case in New Jersey. In a community property state, a judge will typically divide a couple’s property equally. However, New Jersey is not a community property state. The principle of equitable distribution governs the Garden State. This means that the court must divide any assets accumulated during the marriage fairly and equitably, not necessarily equal. Fairness doesn’t always mean that each spouse will receive an equal share of their marital property.

Essentially, the court will divide marital property based on what’s fair under the unique circumstances of each case, taking into account each spouse’s contribution to the marriage. New Jersey courts recognize that spouses shouldn’t be cheated on property division just because the other spouse is the primary breadwinner. Therefore, they will take into account whether one spouse sacrificed their career to be a homemaker and raise the children.

At the Law Office of Sarina Gianna, LLC, we are prepared to help you fight for your entitled share of the marital estate. If you are facing a divorce, please don’t hesitate to contact a determined Ocean County property division attorney who can advocate for your interests.