While it seems getting a divorce is too easy to do in most states, they can still be stressful for the parties involved. There are many decisions which need to be made during a divorce, such as child custody, the division of assets, and child and/or spousal support, among others. While New Jersey law seems to make the division of assets easy, it can still be contentious between divorcing spouses.
Division of Assets
Although New Jersey is an “equitable division” state, too many people assume it means everything is divided equally between the divorcing spouses. However, it really means the assets, including property, will be divided by whatever is equitable or fair. To make sure your interests are met, you should hire a matrimonial attorney in Northfield, NJ.
What is Equitable?
If the divorcing couple didn’t have a pre- or postnuptial agreement and cannot agree about dividing their property, money, and other assets, the court will make the decisions for them. When deciding who gets what in a divorce settlement, the courts will look at:
* How long the marriage lasted
* The couple’s living standards
* The physical and mental health of each party
* Each party’s income and their ability to earn an income to support themselves and their children
* The value of property and other assets
* The tax consequences of asset division
There are many more considerations the courts will make when deciding on what is equitable for each party. Which is why it is important to be represented by an experienced matrimonial attorney, such as Michael T. Wolf, Esq in Northfield, NJ.
A matrimonial attorney can help you to ensure the equitable division of assets is fair to you, so you can support yourself once divorced. The attorney you hire may also be a family law attorney who can assist you with other aspects of a divorce, including child custody.