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Asset Division in New Jersey

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Asset Division in New Jersey

New Jersey couples going through a divorce have to face the difficult task of dividing up all of the assets and liabilities that they have acquired throughout the course of their marriage. Assets and debts are divided in a process that is known as equitable distribution. In equitable distribution, all of the marital property is divided between the two parties in a fair and just way. It is important to note that “fair and just” does not mean equal. The court determines what is equitable by considering a number of factors that include the following:

  • Each spouse’s contribution to marital property and marital debt
  • the age and health of each spouse
  • the tax consequences that either spouse will face
  • the income of each spouse
  • the overall economic situation of each spouse
  • whether acts of economic fault were present

Another important factor to be aware of is that in some cases, separate property can end up being divided in the divorce. Additionally, some property that was acquired during the course of the marriage may actually be exempt from the equitable distribution process. For example, if a spouse inherits money but does not commingle it with marital funds and puts it in its own account, it may not be subject to division.

If you have questions about dividing assets and liabilities in divorce, contact our firm.

Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm in Mountainside, New Jersey. For strong legal representation in all of your family law matters, contact Ross and Calandrillo, LLC to schedule a consultation.

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Mediation Services

Our firm believes that exploring alternatives to litigation can greatly benefit our client. Our firm’s established mediation practice can help you resolve family law issues more efficiently, amicably and at a lower cost. If you are interested in knowing more about our mediation services, contact the firm to discuss your situation.

“This firm and it's team are the best out there, hands down. Robyn Ross helped me through a difficult time. Something that should have been...”

– Nestor –

“Robyn navigated me through a difficult period and explained every piece of the process in great detail along the way. I know in the end...”

– Clarissa –

“Robyn Ross handled my two cases and won both, her passion and expertise was beyond a 5-star rating. She communicated with me through both cases...”

– Abdul –

“Liz represented me throughout a long and difficult divorce process. She was a godsend. Her knowledge, compassion, dedication, and commitment are unparalleled. I can not...”

– Peter –

“The hardest part of going through a divorce or separation is the children. I’m so thankful that I had this firm represent my case. Ross...”

– Paula –

“This is a great counsel team. Very knowledgeable, professional and compassionate. They also make you feel like you are their only client, very attentive!”

– Bettyna J. –

“This firm and it's team are the best out there, hands down. Robyn Ross helped me through a difficult time. Something that should have been...”

– Nestor –

“Robyn navigated me through a difficult period and explained every piece of the process in great detail along the way. I know in the end...”

– Clarissa –

“Robyn Ross handled my two cases and won both, her passion and expertise was beyond a 5-star rating. She communicated with me through both cases...”

– Abdul –

“Liz represented me throughout a long and difficult divorce process. She was a godsend. Her knowledge, compassion, dedication, and commitment are unparalleled. I can not...”

– Peter –

“The hardest part of going through a divorce or separation is the children. I’m so thankful that I had this firm represent my case. Ross...”

– Paula –

“This is a great counsel team. Very knowledgeable, professional and compassionate. They also make you feel like you are their only client, very attentive!”

– Bettyna J. –
 

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