What Does Equitable Distribution Mean?
In equitable distribution (non-community property) states like New Jersey, marital assets and debts are divided on an "equitable" or fair basis.
In many divorces, this will result in a nearly 50/50 split, value-wise, of the property, assets and debts that make up the marital estate. In other situations, particularly where the marriage was a short one and the disparity in value of the assets each spouse brought to the marriage was large, the division may be very unequal but nonetheless fair.
At Simeone & O'Sullivan, we represent people in Morris County and throughout northern New Jersey who are engaged in the process of getting a divorce. If divorce is an option that you've been considering, talk to us about your rights and legal options.
A Fair Division of Assets and Debts
When a negotiated marital property settlement cannot be reached, the principles of equitable distribution give courts significant flexibility when it comes to resolving questions of property division. Some of the key factors guiding that decision-making process include:
- The length of the marriage
- The relative age, health and occupation of each spouse
- The marital standard of living
- Contributions made to the marital estate (economic and non-economic)
- The income of each spouse
- The relative earning capacities of each spouse
- Any other factor the court deems just
In 2007, New Jersey's equitable distribution statute was extended to cover the dissolution of civil unions as well.
Whatever the situation, we provide clients with honest advice regarding their rights and legal options. We are skilled at negotiating property settlements outside of court. We also have a great deal of trial experience and will not hesitate to litigate whenever the need arises.
Our attorneys include Salvatore Simeone, one of fewer than 150 lawyers in the entire state certified in matrimonial law by the New Jersey Supreme Court, and David O'Sullivan, who holds a Masters in Business Administration in addition to his law degree.
Focused Solely on Family Law and Divorce
Dedicated to Protecting Your Rights: Call Us at 973-455-1105
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