Equitable Distribution

Monmouth County, Middlesex County, Mercer County, Essex County, Bergen County, Hudson County, Union County, Somerset County, Ocean County Equitable Distribution Lawyer

A Monmouth County New Jersey Divorce Lawyer Who Can Assist You With Equitable Distribution

If you live in Monmouth County and have a divorce case where equitable distribution s an issue, Clifford E. Lazzaro is a knowledgeable and experienced divorce attorney who can help you with your case. Clifford E. Lazzaro has the skill and experience to handle your equitable distribution issue. Clifford E. Lazzaro represents clients throughout Monmouth County including in Asbury Park, Colts Neck, Deal, Eatontown, Englishtown, Holmdel, Howell, Jackson, Manalapan, Morganville, New Egypt. Contact Clifford E. Lazzaro, P.C. now for immediate assistance at 732-866-1600.

Clifford E. Lazzaro is well-versed in New Jersey law as it relates to all facets of property division during divorce.

Property Division in New Jersey Divorce

Divorce is a complex process. One of the primary elements of a New Jersey divorce settlement that can test even the most amicable spousal relationships is the division of marital assets. New Jersey operates under an Equitable Distribution model, which mandates the fair, objective division of marital property. This means that the family law court uses a number of metrics to determine a fair division of assets that is equitable for both parties. A 50/50 division is not always the case. In fact, equitable distribution can result in a wide range of outcomes, with the single criteria being a “fair” result. Obviously, “fair” is an assessment subject to a significant amount of interpretation.

New Jersey law outlines a number of factors which must be considered during the division of assets process. These include:

• The duration of the marriage;
• The age, physical, and emotional health of the parties;
• The income or property brought to the marriage by each party;
• The standard of living established during the marriage;
• Any written agreement made by the parties before or during the marriage concerning an arrangement of property distribution;
• The economic circumstances of each party at the time the division of property becomes effective;
• The income and earning capacity of each party including education background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children, and the time and expense necessary to acquire sufficient education or training to enable the party to become self-supporting at a standard of living reasonably comparable to that enjoyed during the marriage;
• The contribution by each party to the education, training or earning power of the other;
• The contribution of each party to the acquisition, dissipation, preservation, depreciation or appreciation in the amount or value of the marital property, as well as the contribution of a party as a homemaker;
• The tax consequences of the proposed distribution to each party;
• The present value of the property;
• 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;
• The debts and liabilities of the parties;
• The need for creation, now or in the future, of a trust fund to secure reasonably foreseeable medical or educational costs for a spouse or children; and
• Any other factors which the court may deem relevant.

Debts accumulated during a marriage are also divided equitably in a divorce.

Marital vs. Separate Property

Equitable distribution only applies to marital property, which is defined as property acquired or earned by either party during the marriage. Separate property, which is not subject to equitable distribution, includes any property that you or your spouse acquired before entering into the marriage and inheritances or gifts that either you or your spouse receive from a third party. Any property, material or financial, that has been accumulated during the course of the marriage is subject to equitable distribution in a divorce, with few exceptions.

Marital assets can include the marital home and any vacation properties, in-home possessions and valuables, vehicles, retirement savings, financial and real estate investments, stock portfolios, mortgages, and credit card debts, among others.

In certain cases, the line between marital and separate property becomes blurred. For example, if you owned a home before you were married but your spouse contributed significantly to renovations that increased the home’s value, then your spouse may then be entitled to a share of the increase in the home’s value.

Hire an Experienced NJ Divorce Attorney To Assist You With Equitable Distribution

You need an experienced New Jersey divorce lawyer by your side. Attorney Clifford E. Lazzaro has been assisting Monmouth County and other New Jersey families with divorce and equitable distribution for years, and he can help you too. Contact Clifford E. Lazzaro, P.C. at (732) 866-1600.