Property Division In New Jersey

When a marriage ends in New Jersey, the couple must go through the property division process to divide their assets. This can be a complex process and a common source of disputes. As such, it is important for couples to understand exactly what legal rights and obligations they have.

We can help here at the Law Offices of Sklar Smith-Sklar. Our family lawyers have decades of combined experience and are known for providing legal guidance and being fully committed to our clients. We can help you fight for your rights and keep the property that you need as you move forward with your life. Just give us a call to set up a completely free consultation to learn more.

New Jersey Equitable Distribution: What You Need To Know

The first thing you need to know about property division is that New Jersey uses equitable distribution laws. This means that assets may not be split up completely equally between the couple, but the court will seek to find a fair solution. They will consider numerous different factors, such as the length of the marriage and the earning potential of each partner.

Marital Property Vs. Separate Property In New Jersey

Another area to consider is the division between marital property, which has to be divided, and separate property, which stays with the person who owns it. Typically, assets that were brought into the marriage are separate property, along with some direct gifts, such as an inheritance. Assets acquired during the marriage count as marital property, and both people have a claim to them. In some cases, assets can switch between these categories, such as when an inheritance is commingled with marital funds and becomes a marital asset.

All major assets need to fit into these two categories. Common areas for disputes involve family heirlooms, dividing retirement accounts, and valuing and dividing a family business.

Call Now For A Consultation

It is important to protect what you own and to understand your property rights as your marriage ends. Please get in touch with our firm using the online contact form or simply by calling 609-568-7877 to set up a completely free consultation with our experienced team.