The division of marital property is an important component of every divorce case. Marital property includes personal property, debts, and other assets acquired or shared during the marriage. Spouses may agree on how to divide this property, often with the help of divorce lawyers, but when they are unable to reach an agreement on their own, a court will adjudicate the division of marital assets based on criteria outlined in the state’s laws.
New Jersey is an equitable distribution state, which means the state considers what is equitable or fair, rather than what is equal, when dividing property between parties. Disputes concerning equitable distribution often center on which property is marital property, the value of that property, and how it should be fairly allocated between spouses. These points of dispute are further heightened in cases that involve complex business assets.
The division of marital property is a complicated part of a divorce that requires spouses and their lawyers to take a deep look at the family’s finances and marital assets. Megan S. Murray can guide you through the equitable distribution process. Our lawyers have years of experience providing counsel regarding the division of marital property based on the unique circumstances of each client’s case, including cases that involve high net worth business assets and financial vehicles.
Call us today at (732) 858-0282 or send us a message to discuss the unique circumstances of your divorce. Megan S. Murray is skilled in matters of equitable distribution and the division of complex business assets.
Understanding Property Division in New Jersey
Whereas some states (communal property states) split property equally between divorcing spouses, the division of property in New Jersey, and other equitable distribution states, can be a much more involved process. This is because equitable distribution is premised on the idea that marriage is an economic partnership. As such, equitable distribution states make decisions based on the type of property, its value, the vested interest each party has in that property, and the facts of the marriage.
Factors that Courts Consider When Making Equitable Distribution Decisions
- The time at which the property was acquired
- The value of the property
- Each party’s contribution to the asset
- Written agreements concerning the property
- The tax implications of certain distribution arrangements
- The length of the marriage
- The physical, emotional, and financial well-being of both spouses
- Each party’s income, earning potential, and debts
This list is not exhaustive and, because every divorce is unique, courts may also consider other factors not listed here.
What Is Marital Property?
Marital property can include homes, automobiles, bank accounts, stocks, business assets, debts, pensions, the value of life insurance policies, and other items acquired during the marriage, regardless of whether these items were maintained individually or jointly. Courts do not often recognize gifts, inheritances, and assets acquired before the marriage as marital property, but they may if the property has been comingled with marriage assets or if it has changed in value. Thus, the first step to ensuring an equitable division of property is to conduct a comprehensive analysis and accounting of all assets and debts held by both parties.
Skilled Equitable Distribution Lawyers in New Jersey
Megan S. Murray is skilled in matters of equitable distribution. Our attorneys are detail-oriented divorce lawyers with years of experience in property division cases, including those involving high net worth and complex business assets and financial vehicles. We are prepared to help you conduct an in-depth analysis of your debts and assets, and we will represent your interests in the event that your case goes to court.
Give us a call today at (732) 858-0282 to schedule an appointment or send us a message using our online form. We will provide you with personalized legal counsel regarding the equitable distribution of your property.
Megan S. Murray
"Megan S. Murray is the founder of The Family Law Offices of Megan S. Murray. Megan founded her practice with a singular goal in mind: to provide quality, hands-on services to her clients. Megan has earned a reputation among her peers, colleagues and clients as a zealous advocate of the highest integrity, who achieves the best results for her clients through an intimate knowledge of the unique facts of each case and extensive knowledge of the law."Read Full Bio
Brian R. Murray
"Brian R. Murray, Esq., of counsel to The Family Law Offices of Megan S. Murray, is a highly experienced New Jersey attorney whose practice areas have included civil litigation, real estate, complex insurance litigation, and family law."Read Full Bio
Equitable ApproachMegan's goal is to reach the best possible settlement with the understanding that it is equitable to all parties.
Extensive ExperienceMegan's knowledge of all the nuances of the law has resulted in favorable outcomes for her clients.
Hands On ApproachMegan is dedicated to making herself readily accessible to clients through timely communication and prompt responsiveness.