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 essential 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 mediator/attorney, I have worked with Lane and Lane for years and send them clients. They are always prepared, know their files, and respond to emails and letters as needed. Their staff is well trained, always friendly, and easy to work with. They can handle even complex and difficult cases. They also have expertise where tax issues arise and personally care about their clients.”- Joan G.
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“Dan was great, very upfront and honest. Explained everything fully and to the point.”- Adam C.
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“Can't say enough good things about Dan and his firm.”- Jon
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“I have personally worked with Eric Lane on numerous occasions for transaction insight and due diligence purposes while reviewing new opportunities for my business. His service was always extremely professional, helpful and prompt. Eric was able to give me valuable knowledge while helping to negotiate leases for new potential locations, as well as finding out information about the local township and regulations that would affect my business decisions; making me aware of things I wasn't and helping me to better understand things that I wasn't very familiar with. Whether a new business starting out or an established company looking to grow, I would highly recommend his services. I look forward to continuing to seek Eric's opinion and professional services in the future.”- Michael L.
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“If you find yourself reading these reviews, you are clearly going through a tough time or helping someone who is. Going through a divorce can be devastating and it's far from easy. Eric Lane represented me for a number of issues over the course of over 18 months. His experience, demeanor, and thoughtful approach significantly helped make the best of an unfortunately difficult process. My short advice here is the process is what you make of it and Eric is a fantastic support to get you through it. Eric was responsive, fair, and transparent in all aspects. He took the time to understand what I wanted, and what my concerns were. I never felt rushed and always felt like he was fully vested in having a positive outcome. His advice was thoughtful, realistic, and I always felt like we had a game plan - which prepared me for what to expect each step of the way. I'm sure he has multiple clients at any given time, but with everything on his plate, I always felt like a priority. I would highly recommend anyone considering a divorce attorney to sit with Eric and get his opinion.”- Arpan S.
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“Eric Lane is just awesome! He has been handling my case since my divorce was finalized, which sounds strange - but true. There have been incessant frivolous motions one after another in the courts since my divorce and Eric has been amazing to work with. He not only took care of all the cases and made sure that I was protected, but also offered great advice during the process. Two Thumbs up!!”- Former Client
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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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“Throughout the process, Dan constantly put my interests, goals, and objectives front and center.”- Jay K.
