Equitable Distribution

Divorce Lawyers in New Jersey

The division of marital assets is a hotly debated and emotionally charged issue. The division of the property includes a host of complicated factors from pension funds and employment benefits, to pre-marital property to potential payments of alimony.

Working with an experienced Union County divorce attorney is vital for establishing equitable distribution. Call to schedule your first meeting at The Law Offices of James P. Yudes.

Defining Equitable Distribution

Since deciding what will be yours and what will be his or hers when getting a divorce can seem muddied and unclear, it is best to first understand the rational and philosophy behind the law of equitable distribution. This method recognizes marriage as an economic partnership which means the courts realize that each party expended efforts to acquire what is now considered part of the marital estate. Therefore, each spouse is entitled to a share of the marital property. How much each takes away from the marriage is dependent upon a number of factors which include the following:

How long the marriage lasts
The age and health of each person
Income of property of each person brought to the marriage
The standard of living created while married
All written agreements made by each person during the marriage or prior to it concerning distribution of property
Financial position of each party when division of property takes effect
Earning ability and income of each person, including education, skill sets, additional training, work experience, time away from the job market if applicable, custody issues, and resources needed to have an individual support him/herself at an established standard of living
Extent to which one spouse contributed to the earning ability, education, or training of the other
Each person's contribution to acquiring, selling, appreciating or depreciating of property held jointly as a result of marriage, including home-based contribution
Tax-related consequences due to redistribution
Present value of property of the marriage
The need for the residence and material items to stay with the parent with custody
Debt and/or liabilities shared by both persons
Trust fund creation for educational or medical costs for spouse or children
Did one or both defer achievement of career goals
Other factors as relevant

Fair Distribution is Not Always Equal

Equitable distribution is not an equal division of marital assets: the court cannot automatically divide assets 50/50. Equitable distribution, what each person contributed to the marriage, is more than simply monetary contributions to the marriage. The court evaluates all of the components of a marriage, both financial and non-financial. Raising children, domestic activities, and emotional support are essential to maintaining the marriage, as are economic factors.

Under equitable distribution, each case is examined on its own merits. The trial judge considers the factors mentioned earlier to help determine how much or how many of the assets should be distributed to each party. In terms of determining what assets are subject to equitable distribution, the judge looks at property “acquired during the marriage.” The judge must, in each case, study all of the particular circumstances of the parties. Then, after evaluating each spouse’s situation, the judgment must determine how to best distribute the marital property.

Contact The Law Offices of James P. Yudes to start planning equitable distribution with our skilled divorce lawyers.