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.
-
“I can’t say enough about Dan and the Lane & Lane firm. Dan carefully listened to all my concerns and goals throughout this process and explained everything that was required to meet my goals. Dan is always available whenever I call him for any questions or concerns. I would recommend Dan and the Lane & Lane firm to anyone looking to get any legal advice in the state of NJ, they are top-notch. Thank you, Lane, & Lane for your outstanding service.”- Satish P.
-
“Lane & Lane have been a huge help for our business. They've helped us navigate federal regulations, state regulations, buyout agreements, and corporate structure updates. They're accessible and timely, highly recommend.”- Colby J.
-
“If peace of mind is what you are looking for, I recommend Daniel.”- Brad
-
“Eric was recommended to me in 2013 when I was going through a very difficult divorce and custody fight. He’s been with me every step of the way. It’s been a long journey and he’s been supportive and has continued to fight for me. He’s made a very difficult process a bit less stressful and easier. Always willing to talk to me about my concerns. I can’t say enough about him. He’s been amazing. I definitely would recommend this law office to anyone who is dealing with the stress of divorce.”- Jessica C.
-
“Thank you Eric for always answering my questions and getting me through my divorce.”- Jessica S.
-
“Excellent Experience. Daniel Lane was very helpful and readily available. He was able to explain everything in detail and always put us at ease. He made us feel like family and handled our case as if it was his own personal family matter. Awesome lawyer. Highly recommended.”- Kaajal R.
-
“Good, family-owned law firm. My wife and I didn't know much about wills, but knew we needed a plan to handle our assets and, most importantly, ensure our children were cared for if anything ever happened to us. As parents themselves, they understood our concerns and guided us through the documents and subsequent decisions we needed to make. In the end, we are relieved to have these official documents and are confident they will serve their purpose should they ever be needed.”- Brad C.
-
“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
