Representing New Jersey Clients In Property Distribution Matters

In the State of New Jersey, the division of assets and liabilities in a divorce is referred to as "equitable distribution." Courts will consider the following factors in making an equitable distribution of property:

  • The duration of the marriage or civil union;
  • The age and physical and emotional health of the parties;
  • The income or property brought to the marriage or civil union by each party;
  • The standard of living established during the marriage or civil union;
  • Any written agreement made by the parties before or during the marriage or civil union concerning an arrangement of property distribution;
  • The economic circumstances of each party at the time the division of property becomes effective;
  • The income and earning capacity of each party, including educational background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children, and the time and expense necessary to acquire sufficient education or training to enable the party to become self-supporting at a standard of living reasonably comparable to that enjoyed during the marriage or civil union;
  • The contribution by each party to the education, training or earning power of the other;
  • The contribution of each party to the acquisition, dissipation, preservation, depreciation or appreciation in the amount or value of the marital property, or the property acquired during the civil union as well as the contribution of a party as a homemaker;
  • The tax consequences of the proposed distribution to each party;
  • The present value of the property;
  • The need of a parent who has physical custody of a child to own or occupy the marital residence or residence shared by the partners in a civil union couple and to use or own the household effects;
  • The debts and liabilities of the parties;
  • The need for creation, now or in the future, of a trust fund to secure reasonably foreseeable medical or educational costs for a spouse, partner in a civil union couple or children;
  • The extent to which a party deferred achieving their career goals; and
  • Any other factors which the court may deem relevant.

Not all property is subject to equitable distribution and not all property is equally shared. Do you have questions about an inheritance or gift you received or property you owned prior to getting married? Do you want to know how your business, debt, home and retirement assets will be handled? The Cohn Lifland family law group can help you determine what assets and debts are subject to equitable distribution and how the property should be divided.

Backed by over 90 years of institutional knowledge, experience and professionalism, our property distribution attorneys know the law — and they can help. Contact us online or call 201-684-9695 today to find out how. From our office in Saddle Brook, our lawyers help clients throughout northern New Jersey.