Somerset County Asset Division Lawyers
Experienced Legal Assistance with Equitable Distribution in New Jersey
What is Equitable Distribution in New Jersey?
New Jersey is an "equitable distribution" state, meaning that New Jersey family courts distribute marital property fairly but not equally. New Jersey is not a 50-50 divorce state.
This does not mean it will be a 50/50 split; the court will examine many factors that help influence the decision, including:
- The length of the marriage
- The contributions of each spouse during the marriage
- The income of each spouse
- The age, health, and well-being of each spouse
Often mortgages, home equity lines of credit, auto loans, charge accounts/credit cards, and other liabilities need to be addressed and allocated. Here at Lane & Lane, LLC, we focus on a fair and equitable allocation of all such liabilities.
Principles of Equitable Distribution in New Jersey Divorces
When a married couple acquires property, they essentially share ownership rights to such property. Sharing ownership is not problematic for the couple when they live together. However, when a couple decides to get divorced and live separately and apart, it is not feasible for them to continue sharing their marital property as they did when they were married.
As a result, the couple must decide how to divide marital assets between themselves upon divorce. If the couple cannot agree on how to divide these assets, the court must equitably distribute their marital assets.
However, an “equitable” distribution of marital assets does not always mean that the court will “equally” divide marital assets between the parties. Instead, a court must consider the specifics of each case to determine a split that is fair and “equitable” under the circumstances.
Among the factors that courts will consider for purposes of equitable distribution include the marital debts that the marriage incurred.
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“As a local divorce lawyer, I have had a few cases with Lane & Lane. They are honorable attorneys that stand firm for their clients. As a divorce lawyer, you will respect those adversaries who are tough but fair. That perfectly describes this firm. Their clients are lucky to have them. The firm also does a great deal for the local community. They are first-rate and true gentlemen. They also have great staff.”- Carl T.
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“Thank you Eric for always answering my questions and getting me through my divorce.”- Jessica S.
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“I would recommend Lane and Lane in a heartbeat to anyone who needs counsel. They are honest, caring and will always be there when you need them.”- Carl
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“Eric is by far the best lawyer I’ve ever had. He doesn’t rush, takes his time to go through all files, and always has time to talk. It is my first case using him and he is a bull in the courtroom. As well, the law firm is very respectable and they always return calls. Thank you again, Eric. if it wasn’t for you I wouldn’t have my daughter.”- Marcel B.
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“Mr. Steven Lane, Lane and Lane were so helpful giving expert advice and giving direction with my issues. They always followed the law and with their direction and legal advice, they were gentle and understanding.”- Former Client
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“Eric was with me every step of the way and I felt that he had my best interests at heart.”- Aus
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“Throughout the process, Dan constantly put my interests, goals, and objectives front and center.”- Jay K.
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“Upon meeting Steven Lane, he saw me right away and I could tell he was the lawyer I wanted to work with. He was very professional and personable. He kept in constant communication, even on weekends when I was panicking about an issue.”- Joseph O.
