In divorce, the division of marital assets such as financial accounts and real property is called Equitable Distribution. In New Jersey, Equitable Distribution does not mean equal, it means equitable under the circumstances. Under New Jersey divorce law N.J.S.A. 2A:34-23.1, the court is required to consider certain criteria before deciding how to fairly divide the marital assets. Specifically, the court must consider the following factors:
The New Jersey Equitable Distribution statute also states that "it shall be a rebuttable presumption that each party made a substantial financial or nonfinancial contribution to the acquisition of income and property while the party was married." Simply stated, that means the Court must start with the notion that both parties made significant contributions to the marriage, both monetarily and otherwise, that benefitted the marriage and/or family unless one party can prove otherwise.
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