What Is Equitable Distribution?
Equitable distribution refers to the fair distribution of marital assets by the court during the divorce process. Unlike community property states, where assets are divided equally, equitable distribution is put in place to achieve a fair outcome based on various factors of individual cases.
Because assets are not simply divided, the process of equitable distribution may extend the length of your divorce process. Consulting with a lawyer can help provide a clearer timeline and ensure your assets are protected.
How Is Equitable Distribution Determined in New Jersey?
New Jersey is classified as an equitable distribution state, which means that, in divorce cases, all relevant factors are considered when dividing properties and assets between spouses. Before assets are divided, they must first be clearly defined and valued by both parties.
Assets can include property, bank accounts, pensions, jewelry, and lines of credit. Equitable distribution will also include the division of any debt between the parties.
Once assets have been defined and valued, the court will begin the process of dividing them, considering factors such as:
- The duration of the marriage
- The income, age, and health of the parties involved
- The tax consequences of the proposed distribution to each party
- Any written agreement made by the parties prior to the divorce
You can also bring other related circumstances to light during equitable distribution to ensure the division is fair.
Our Equitable Distribution Lawyers
An equitable distribution lawyer specializes in handling legal matters related to the division of assets and liabilities during divorce proceedings. At Rigden, Lieberman & Mignogna, P.A., Alexandra Rigden, Ronald Lieberman, and Melissa Mignogna each offer years of experience practicing family law.
As your equitable distribution lawyer, they can provide legal advice and support throughout the process, including:
- Asset Valuation: Helping to assess the value of various assets, such as real estate, businesses, investments, and personal property, to determine their fair distribution.
- Negotiation: Assisting with negotiating settlements to reach an agreement on the division of assets and debts without going to court.
- Representation: If an amicable agreement cannot be reached, the lawyer represents their client in court, presenting arguments and evidence to support a fair distribution of assets.
- Drafting Legal Documents: Preparing legal documents, such as settlement agreements or court filings, to formalize the agreed-upon distribution or present the case in court.
The divorce process can feel overwhelming to navigate alone, and our lawyers are here to support you and your best interests with compassionate, legal advice.
