New Jersey Divorce Attorney Discusses Marital Property
Clients will call me as a New Jersey Divorce Attorney and ask, what exactly is marital property? Marital property includes any asset acquired during the marriage. The “term of the marriage” begins on the date of the marriage, when you actually were married, and ends on the date the complaint for divorce is filed. Anything acquired during that time is considered marital property.
If you filed a complaint for divorce on the first of the month and then, on the 10th of the month, took your bonus check and bought a set of golf clubs, would that asset – those golf clubs – part of the marital property? The answer is no. If you utilized monies that were supposed to be your spouse’s, such as a bonus that could be part of your income – and part of the support calculation – you’re still entitled to your share of that. Let’s say you used your spouse’s share. The purchase took place after the complaint for divorce was filed. It’s still an asset outside of the marital property.
The legal term of art is called equitable distribution, and it means any asset and/or debt that has to be divided for the family falls under the umbrella of equitable distribution. Going back to the term marital property, marital property includes anything acquired between the date of the marriage and the date of the filing of the complaint for divorce.
Are you going through a divorce and determining which assets will need to be divided? Contact experienced New Jersey Divorce Attorney Christopher Leon Garibian for help.
Christopher Leon Garibian, Esq. is a partner in the matrimonial and family law department of Weiner Law Group LLP. He has over 19 years of experience handling a multitude of Divorce and Family Law Matters throughout New Jersey. He is passionate about family law and takes pride in his ability to effectuate real change in the lives of his clients. He is certified by the State Supreme Court of New Jersey as a Matrimonial Attorney. If you are in need of an experienced Divorce Attorney or Family Law Attorney in NJ, contact us today for compassionate, long lasting legal solutions.