New Jersey Divorce Attorney Explains Equitable Distribution
As an experienced New Jersey Divorce Attorney, clients often ask about equitable distribution and what it means.
- Equitable distribution is the method used to divide the assets and debts of the marriage. Marital property is anything acquired during the marriage, and equitable distribution in the state of New Jersey contemplates 16 separate factors to determine who gets what.
- If Aunt Mary’s necklace has been in your family for three generations and was gifted to you, it’s staying with you. But, if you bought a gift for your spouse, those interspousal gifts will be subject to division.
- It’s very important to decide what you want to fight for. Oftentimes, items related to hobbies and things people do for enjoyment go with them. You may have to assign a value to items you keep, so identify those specific items immediately.
- If both sides are determined to keep the same item, the judge is likely to order the item sold, so work with your spouse to decide who’s going to get specific things, and set values for those items.
Are you entering the equitable distribution phase of your divorce? Contact dedicated New Jersey Divorce Attorney Christopher Leon Garibian for advice.