What is Equitable Distribution?

What is Equitable Distribution?

Divorce is frequently both emotionally and financially exhausting. One of the most hotly contested divorce-related issues is who gets to keep what assets. When spouses cannot agree on such terms, their property will generally be subjected to the equitable distribution process. Though this may seem overwhelming, it does not have to be–our firm is here to help. Please continue reading and reach out to our experienced New Jersey family law attorneys to learn more about how our firm can help you through every step of the divorce process ahead. Here are some of the questions you may have regarding equitable distribution in the state of New Jersey:

How are marital and exempt property different?

There are two primary types of property in a divorce: marital property and exempt property. Marital property includes assets acquired throughout the duration of your marriage. This means that your house, car, retirement, and more are all usually considered marital property. Generally, marital property is subject to equitable distribution in divorce. On the other hand, exempt property, rather obviously, is property that is exempt from equitable distribution, and generally includes assets such as gifts, inheritances, or other property acquired before your marriage.

How do New Jersey courts determine who gets what property after a divorce?

New Jersey courts will consider several factors before deciding the outcome of your divorce including, though not limited to:

  • You and your spouse’s age
  • You and your spouse’s health
  • The duration of your marriage
  • The value of your property
  • Whether you or your spouse have any debts or liabilities
  • You and your spouse’s yearly income and earning potential

If you are someone who believes your assets are at stake, you need an experienced law firm on your side. Fortunately, you have just found that firm in Aronsohn, Weiner, Salerno & Kaufman.

Can I protect my property from divorce?

In many cases, couples can protect their assets from a future divorce by drafting prenuptial agreements. However, you will have to draft a prenuptial agreement before marriage. That being said, if you are already married, you may draft a postnuptial agreement that essentially serves the same function. No matter your situation, you should not hesitate to speak with our trustworthy family law attorneys today.

Contact our experienced New Jersey firm

We understand how challenging divorce and other family law issues can be, which is why we are dedicated to providing individuals with the compassionate, knowledgeable legal representation they deserve. Aronsohn, Weiner, Salerno & Kaufman has helped clients through the various family law matters for over 40 years, which is why we know we have the experience needed to do the same for you. For powerful legal counsel regarding family law, litigation, business law, real estate, and criminal law, you know where to turn–contact Aronsohn, Weiner, Salerno & Kaufman today to schedule a consultation.

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