TMZ reported that Jane Lynch’s divorce from her wife, Dr. Lara Embry, was recently finalized. In addition, TMZ has published the details on the parties’ settlement agreement. As reported, Embry will receive a 1.2 million dollar lump sum and half of the other marital property, including some bank accounts, trust accounts, a 401K, proceeds from a tennis club membership, royalties from Lynch’s TV appearances, and the parties’ tax refund. Embry will also receive the parties’ yacht club membership and the parties’ dog in the divorce.
Because Jane Lynch filed for divorce in California, which is a community property state, her divorce settlement turned out somewhat differently than it might have in New Jersey, which is not a community property state. In New Jersey, courts will equitably divide all marital assets, which is all property and debts acquired during the marriage. Equitable distribution is governed by N.J.S.A. 2A:34-23(h). According to Pascale v. Pascale, 140 N.J. 583 (1995), the purpose of equitable distribution is to fairly divide the assets obtained by the parties when they were partners upon dissolution of the marriage.
In order to equitably divide marital assets, under Rothman v. Rothman, 65 N.J. 219 (1974), the court follows a three-step approach. First, the court must determine what property is eligible for distribution. Then, the court must value all eligible property. Last, the court must decide how the property can be divided most equitably, which does not always mean equally. The court will consider a number of factors when dividing the property, such as the duration of the marriage, the income of both parties, and the tax consequences of the distribution.
If you are getting divorced in New Jersey and have questions regarding property division, the experienced matrimonial attorneys at Sarno da Costa D’Aniello Maceri LLC can help. Call us today at 973-274-5200 for help with your case.
