Are all of our assets divided in divorce?

 Many times, clients will come to me and ask about equitable distribution in the state of New Jersey, and whether there are certain assets that they have, or that their spouse may have, that won’t be subject to equitable distribution. In New Jersey, not everything gets divided in a divorce. There are certain assets that your spouse may not be entitled to.

There are two different types of property that are taken into consideration when dividing assets. These include marital property and separate property. If you have certain assets that are premarital, meaning that you got those assets prior to the marriage, those assets would not be subject to equitable distribution when it comes time to get divorced. However, it is important to be aware that there are some other aspects to that that you’d want to speak to an attorney about. In addition, if you have inherited funds, or funds were gifted to you, or assets were gifted to you, those things would not be subject to equitable distribution in New Jersey.

If there was a prenuptial agreement signed by both spouses that protected certain assets owned by one of the spouses, they will not be subject to distribution because they are considered separate property. Separate property is anything protected in a prenuptial agreement or any assets that were acquired by either spouse before the marriage began.

If you need legal assistance in getting a divorce and are curious as to how you can protect your assets, contact an experienced divorce attorney at Ross and Calandrillo, LLC today.

Ross and Calandrillo, LLC is a full-service divorce and family 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 free consultation.