Asset And Property Division In A New Jersey Divorce
Last updated on June 18, 2024
When going through a divorce, dividing property can be complex and sometimes contentious. You have to determine what property counts as marital assets and what types of property may still be separate assets. Marital assets are divided, but separate assets are not. You also have to figure out how to divide very complex assets, such as retirement benefits or investments, and this can result in financial disputes with your former spouse.
At The Law Office of Gary J. Natale P.C., I am Gary Natale, and I have more than three decades of experience, having earned my law degree in 1989. I understand the legal process and the common frustrations and conflicts couples experience. I’m well-known for my attention to detail, which is critical when splitting up assets – whether they are financial or tangible. If you’re looking for a proven and successful family law attorney for your Essex County divorce, call me today.
What Are Common Marital Assets?
Property division starts with identifying marital assets. These are typically assets that were obtained or earned during the marriage. They often include:
- A family home
- A family business
- Retirement accounts
- Savings accounts
- Investment portfolios
- Bank accounts and earnings
- Life insurance policies
- Real estate
- Automobiles
- Home furnishings
Separate assets are those brought to a marriage and not commingled, such as real estate acquired before marriage, an inheritance or gifts. If they are commingled or mixed with marital assets, however, their status can change.
Is New Jersey A Community Property State?
It is not. In community property states, most marital property is divided equally. In New Jersey, though, division is done equitably or fairly. This means that division may not be even if the court believes an uneven split would be fair.
Call Today To Learn How To Protect Your Assets In A Divorce
You need an experienced lawyer so that you can learn more about your options to protect your assets as you go through a divorce. I offer free consultations with no strings attached. Just call 973-821-4199 or contact me via email to schedule.