As part of the divorce process, you’ll have to find a way to divide the debts and assets of the marriage. New Jersey is an “equitable distribution” state with respect to the allocation of a marital estate. In essence, that means that, if the parties cannot come to an agreement as to how to split of debts and property, the court will order that the debts and assets be divided fairly (though not necessarily equally). The court will take a number of factors into account when determining what is “fair”:

• How long the parties have been married—the longer the marriage, the more likely everything will be divided equally
• The age and health, both physical and emotional, of the parties
• The standard of living to which the parties were accustomed during the marriage
• Any income or property brought into the marriage by either party
• The existence of a valid prenuptial or postnuptial agreement, or any other written agreement made and signed by the parties
• The income and earning capacity of each party, including skills, education, work experience and length of time out of the job market
• The time and expense that would be required to allow a non-working spouse to become self-sufficient
• Any contribution to the marital home, including raising children, cooking, cleaning and other domestic responsibilities
• The contribution by each party to the education, training and earning power of the other party
• The extent to which either of the parties enhanced or dissipated the value of the marital estate
• The extent to which one of the parties deferred career goals to be a homemaker
• The need of one of custodial parent to own or occupy the marital home
• The tax consequences of the potential division

Though the parties are free to come to their own agreement, the court always has the discretion to review any proposed property settlement offer to ensure that there is no misrepresentation, fraud, duress or undue influence.

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At the Cintron Firm, LLC, we bring more than 14 years of experience men and women in New Jersey who are involved in or contemplating filing for divorce. To set up an appointment, contact our office at 201-791-1333 or (201) 535-0323 or send us an e-mail.