Do you plan on getting divorced because the marriage is not working out? If you are living in New Jersey, you may be asking yourself, “Is NJ a community property state?”. Unlike some states, the state of New Jersey is not a community property state. Instead, it is an equitable distribution state. So, what does this mean for you? DeZao Law explains it all to help you understand what will happen with your accumulated assets in the event of a divorce between yourself and your current partner.
What Does Equitable Distribution Mean?
Equitable distribution means your assets are fairly distributed between yourself and your partner during a divorce, but that does not mean that everything is split right down the middle. In fact, there is much more to it than that. When it comes to equitable distribution, numerous factors are taken into consideration beforehand. Some of these factors include:
- Who is the breadwinner?
- Which assets were obtained during the marriage?
- Do both parties have a source of income?
- Are children involved?
These are just a few factors, but many other factors are considered before the assets are split in a fair manner to benefit both parties involved in the divorce. As an example, if two people are married and one is a stay-at-home parent and the other was the breadwinner, the stay-at-home parent could end up getting a bit more from the divorce. However, it is because it may take some time for that person to get back on their feet and get back into the routine of working. It would also depend on how much njchildsupport one parent is receiving from the other parent.
The reason that njchildsupport is considered is that one parent might be spending more time with the children, thus providing more care. While the situation varies from one case to the next, the goal is to make it as fair as possible.
How Are Assets Separated?
Assets are separated in several ways. In civil situations, both parties are often willing to agree to different things, including who gets certain belongings and how much NJ child support gets paid to the parent who is providing the most care to the children. However, this is not always the way that things work out. When both parties are unable to agree with one another on the separation of their assets, mediation will often occur where the NJ family law attorney gets involved to ensure that the client is receiving a fair amount of assets due to the divorce, along with a fair amount of NJ child support.
Getting Divorced and Need Legal Help? DeZao Law Wants to Hear From You
If you have decided it is time to end your marriage, you need to hire an experienced NJ family law attorney to help you get through the legal proceedings. You may have been asking, “Is NJ a community property state?” The state of New Jersey is not a community property state, which means you will receive a fair distribution of assets as a result of ending the marriage. Having a legal professional by your side makes the situation that much better. When you are ready to get help, DeZao Law is ready to assist you. Call our law office today at 855-432-2489.