The general rule is that all assets acquired by spouses during their marriage will be divided between them equitably at divorce. Equitable distribution is a method by which all of the assets and debts acquired during a marriage are divided. Not every asset will be split equally, nor is every asset subject to distribution. For example, property owned before the marriage or received by way of gift or inheritance may not be subject to equitable distribution. People now are marrying later in life than ever before and many come in to their marriage owning substantial property. Divorcing couples frequently face complex issues to determine whether or how much of an asset or debts must be divided. The factors a Court must consider in deciding equitable distribution of marital property are set forth in N.J.S.A. 2A:34-23.1.
The family law attorneys at the Law Office of Peter J. Laemers are able to help you understand how the law of equitable distribution applies to you, and to help you reach an agreement on the division of the assets and debts that is fair and equitable.