One of the most concerning aspects of divorce is property distribution. If you are getting a divorce, you are most likely worried about which assets you will get to keep after the equitable distribution process. Please continue reading and speak with our New Jersey divorce attorney to learn more about equitable distribution and how our firm can help you, every step of the way. Here are some of the questions you may have:
What is the difference between marital and separate property in New Jersey?
When New Jersey courts look to divide assets in the equitable distribution process, they will first break those assets down into two primary categories: marital property and separate property. Separate property involves assets that were obtained either outside of or before a marriage, such as gifts or inheritances. These assets are generally exempt from the equitable distribution process. Marital property, on the other hand, involves assets that were obtained during the marriage and shared by both spouses, such as a home, retirement plans, and more. These assets are generally subject to equitable distribution, meaning the courts will decide on what they feel is a fair and just distribution of your assets. Rather obviously, many spouses do not agree with this determination, which is why you need an experienced New Jersey divorce attorney on your side who can fight for what you believe is rightfully yours.
How do courts determine who gets which assets in a New Jersey divorce?
Courts consider a wide range of factors during the equitable distribution including, though not limited to:
- You and your spouse’s yearly income
- How long you have been married
- Whether you have children together
- Whether one spouse is financially dependent
- You and your spouse’s age and health
- You and your spouse’s earning potential/education
- Any other factor the court deems relevant.
What can I do to protect my assets from a divorce in New Jersey?
Fortunately, you can protect your assets from a divorce by drafting a prenuptial agreement before marriage. This will outline who will get which assets, should you ever divorce. If you are already married and have not drafted a prenuptial agreement, you may draft a postnuptial agreement, which serves the same essential purpose. No matter what stage of life you are in, our firm is ready to help you.
Contact our experienced Ocean City firm
Matters of divorce and family law require the attention and skill of an experienced attorney who will fight for your future. Not only is your financial well-being at stake, but in a divorce, both you and your children’s emotional well-being are at risk as well. If you need a divorce and family law attorney in Ocean County, New Jersey, please do not hesitate to contact the Law Office of Sarina Gianna, LLC today to schedule a consultation.