Description
New Jersey is an equitable distribution state meaning the distribution of assets during a separation is based on what is fair. The court takes several factors into consideration in these cases. Our family law attorneys are always available to clients and will fight to make sure you get the best deal possible for your case.
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So New Jersey is an equitable distribution state. Some states are community property states. Some states are equitable distribution states. Community property states, the courts just split the assets right down the middle. In New Jersey, in an equitable distribution state, it's a distribution of assets in a fair manner. It's not necessarily an equal manner. So it doesn't necessarily mean you're going to get 50% of an asset.
If someone comes into the marriage and they have a business, that's a premarital asset, that's their separate property. If that business increases in value during the marriage, and there is an, you know, incremental increase in that value, that is subject to distribution. The spouse who does not own the business is going to get 50% of that. It's a smaller percentage. So it's a fair distribution, but it doesn't mean 50/50. And that's a misconception that a lot of people have when they come to see us and have consultations.
There is an equitable distribution statute in New Jersey, and there are several factors that a court would look at when they determine how to split up an asset. And then what we do is we would really have to identify what the assets are that are subject to distribution. We have to put a value to that asset, and then we have to figure out a fair way to distribute that asset.
Depending on the asset, we might have to have an expert come in to value that asset. For example, a business, we would use a forensic accounting expert, and they're going to place a value to that asset so we know how to distribute that asset. If a party has a pension, we need to value the pension so we know what the value of that is. House, a vacation home, cars, anything like that, we would either need to get an expert involved, or we would need to use some other reliable source to value that asset.
I'm very attentive to my clients. I take my job very seriously. I'm always available to them, and I know my file like it's my own life and I make sure that I'm always prepared, or I don't even like this term, but overprepared so I can make sure I fight for my client and I give them the best deal that they can get. Or I go to trial if I have to, and we are successful.
