If you are planning to get divorced, you may want to know who will get what after all is said and done. In the state of New Jersey, something known as equitable distribution occurs. Most divorcing couples will receive their fair share of the property in the event of a divorce, but that does not mean that both parties will have their assets split down the middle. Different circumstances and factors play a significant role in the decisions made by the judge when separating the property between both individuals. DeZao Law explains things in detail to help you better understand what happens during divorce proceedings in New Jersey.
Fairly Dividing Property
While you may have concerns that you will get nothing out of the divorce while your former partner gets everything that he or she wants, this is not true. When you are getting divorced in New Jersey, equitable distribution is a must. The very first thing you need to do when you plan to get divorced is to hire a divorce attorney in NJ. The divorce attorney can explain this type of separation of property to you in detail, making sure you have a clear comprehension of it before moving forward with the divorce proceedings. The system in the state of New Jersey is designed to make things fair for all parties involved. Anything earned during the marriage between either partner is split in a way that is considered fair and beneficial to both parties, even if one party disagrees with the distribution of said property.
How Are Decisions Made?
You may wonder how the judge makes final decisions on the separation of property belonging to married couples. Several factors are taken into consideration before the judge makes the final decision. These factors include:
- The amount of time a couple has been married. If the marriage was long and lasted several decades, the judge may feel both parties are entitled to a fair amount of property during the distribution of assets.
- The amount of money earned by each person in the marriage throughout the entire marriage.
- The current situation of both individuals now that they are separated and no longer contributing to one another.
- The type of agreement created between both parties, such as a prenuptial agreement designed to protect the assets of one person who earns more money than the other person.
The judge will carefully review all this information before coming up with any decisions on the distribution of property. Even if a prenuptial agreement was signed before the marriage, it is still possible for both parties to receive a fair amount of property, especially if that property was accumulated during the marriage or gifted to one spouse from the other spouse who earns more. Your NJ divorce lawyer will go over the details of what you can possibly get out of the marriage based on your personal circumstances.
Getting a Divorce? Let DeZao Law Work with You
When you are divorcing your former partner, you need to hire a divorce lawyer in NJ. At DeZao Law, we want to help you accomplish your goals, which may include getting through divorce proceedings without stressing too much or worrying about not getting your fair share of property earned during your marriage.