Determining Division of Assets
When determining division of assets after a divorce in New Jersey, the courts will examine a variety of factors. To make sure your rights and property are protected, contact the experienced Jersey City family law attorneys at Freeman Law Center LLC to schedule a free case review.
Determining Division of Assets | Factors
Assets that are acquired during the course of the marriage are generally to be treated as 50-50. It doesn’t have to be 50-50. New Jersey is an equitable distribution state, which means that any assets acquired during the course of the marriage should be split equitably, and usually that means 50%, but it doesn’t have to mean that. Again, that’s a fact-specific determination which is going to be different in each marriage. Assets that are acquired prior to the marriage are not generally going to be subject to equitable distribution.
Determining Division of Assets | Locating Your Spouse’s Assets
In New Jersey, one of the factors that sometimes comes into a divorce is whether one spouse is either hiding assets or has assets overseas. Generally speaking, if it’s a high-asset divorce, you’re going to do an asset search of the other party, or both parties will do an asset search of each other to find hidden assets. Assets overseas generally can be subject to a New Jersey divorce, but again that is fact specific because certain countries may not honor a divorce decree or court order from New Jersey or, for that matter, in the United States.
If you have any questions, please contact our offices to schedule a free consultation. We have convenient locations in Jersey City and Montclair. Let our experience work for you.