The division of marital property and debts can be extraordinarily stressful. Dividing assets and property, may cause tension as many couples are unable to reach a mutually agreeable property division agreement. The process can be complicated when there are various sources of wealth, including but not limited to collectibles, foreign assets, or real estate.
New Jersey is an equitable distribution state, meaning that marital property is not necessarily equally divided but is divided between spouses in a manner that the court considers fair and equitable. Equitable distribution applies to marital property, which is all property acquired during the course of the marriage except gifts or property obtained through a will or inheritance.
There are many factors that the court may consider when deciding on an equitable distribution of property. As outlined in N.J.S.A. Section 2A:34-23.1. The factors include:
All these factors are considered by the court when dividing marital assets. Even if the titles of certain assets are in only one of the spouses’ names, they are not necessarily immune from the equitable distribution of property if obtained during the marriage.
George Christopoulos has fought for spouses’ rights in the New Jersey Family Courts since 2001. His experience makes Mr. Christopoulos an expert in the division of marital assets. A divorce is a challenging time in a one’s life, and representation by George Christopoulos will provide you with peace of mind knowing your rights are protected. Please call the Law Offices of George Christopoulos, P.C. at (201) 488-1825 to discuss your options.