The following article about New Jersey Divorce is featured on New-Jersey-Lawyers.com The below article has 21 topics. Due to the length we are listing only the first 4 in today’s posting. We will publish the balance of topics in proceeding days. Or you can read the entire article on New Jersey Lawyers

Equitable Distribution FAQ’s
BY THEODORE SLIWINSKI, ESQ.

1. How does property get divided in divorce?
New Jersey is an “equitable distribution state.” This means that in a divorce in New Jersey, any property that is acquired during the marriage must be divided in an equitable manner. Therefore, any marital property must be distributed either by a voluntary agreement of the parties or by an order of the divorce court.

2. What does equitable distribution mean?
Equitable distribution basically is the process as to how marital assets will be distributed. The distribution of marital assets is always very hotly contested and emotionally charged. In many cases, the parties actually become violent when they try to reach an agreement as to how to split up the marital assets.
The main theory of equitable distribution is that a marriage is an economic partnership. Therefore, each spouse is entitled to a share of the marital property.

3. What are the factors that a court uses to determine the equitable distribution of the marital assets?
There are many factors that a court takes into consideration when it determines how to equitably distribute the marital assets. The factors are the following:

  1. The duration of the marriage;
  2. The age, physical and emotional health of the parties;
  3. The income of property brought to the marriage by each party;
  4. The standard of living established during the marriage;
  5. The existence of any written agreements made by the parties before or during the marriage concerning an arrangement of property distribution.
  6. The economic circumstances of each party at the time the division of property becomes effective.
  7. The income and earning capacity of each party, including educational background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children, and the time and expense necessary to acquired sufficient educational training to enable the party to become self-supporting at a standard of living reasonably comparable to that enjoyed during the marriage.
  8. The contribution by each party to the education, training or earning power of the other.
  9. The contribution of each party to the acquisition, dissipation, preservation depreciation or appreciation of the account or value of the marital property, as well as the contribution of the party as a home make.
  10. The tax consequences of the property distribution to each party.
  11. The present value of the property.
  12. The need of a parent who has physical custody of a child to own or occupy the marital residence and to use or own the household effects.
  13. The debts and liability of the parties.
  14. The need for creation, now or in the future, of a trust fund to secure reasonable foreseeable medical or education costs for a spouse or child.
  15. The extent to which a party deferred achieving their career goals.
  16. Any other factors which the court may deem relevant.

4. How does a court determine how to apportion all of the marital assets in a marriage?
Equitable distribution calls for a judge to apportion the marital assets in such a manner that will be equitable and just to both parties under all circumstances. “Equitable distribution” states that each spouse is entitled to a portion of the marital property in relation to his/her contributions during the marriage.

Equitable distribution does not mean an equal division of the marital assets. The court cannot mechanically divide the assets on a 50/50 basis. When determining equitable distribution, the extent of each parties’ contribution to the marriage is not measured only by the amount of money that was contributed during the marriage. The court will also evaluate all of the financial and non-financial components of the marriage. Therefore, the efforts of raising the children, making a home and providing emotional support is as essential to the maintenance of the marriage as the economic factors. The trial judge also considers the factors above to help determine how much or how many of the assets should be allotted to each party.

The author of the above article, Theodore Sliwinski is from East Brunswick, NJ. Contact him for more information in regards to a NJ Divorce issue