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Equitable Distribution - Dividing the Assets
Marital property is divided in New Jersey under what is known as equitable distribution. Equity is a term for fairness and the Court can make any fair allocation and distribution. The factors which the Court must consider are:
What is included for equitable distributed, how much is it worth, and how is it distributed are the three questions which must be answered. To understand what is included in the "marital estate" for purposes of equitable distribution, one must first conceptualize a pool of assets which consist of everything and anything of value or future value. Property, jewelry, businesses, artwork and retirement benefits, as examples, are included initially. It usually makes no difference whether the property is held by the husband, wife, jointly or in the name or names of third persons.
To file for divorce in New Jersey under no-fault grounds, the couple must have been living separate and apart in different residences for at least 18 consecutive months. There must be no hope of reconciliation in the marriage.
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"A Plain English Guide to Protecting Your Children"
Author: Mary L. Boland, Attorney at Law
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