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His Or Hers? All That's Left Of The Marriage Is The Property

Author : Stephen Browndorf

The divorce attorney in Northfield, NJ understands that the most difficult issue in many divorces is the separation of property. New Jersey property divisions recognize that there are marital assets and assets each spouse may have owned as an individual when entering the marriage. The two types of property must be sorted out in the divorce agreement.

Marital property is the property that can be divided between divorcing couples. Not all assets are divided – only the marital assets. When a person owns property or assets that do not belong to the marriage per se, the property is referred to as separate property. Really complicating the issue is the fact that a spouse can own assets accumulated during the marriage that may be composed of an amount that is separate and an amount that is marital.

For example, if you own a pension at the time of the marriage and were the only one contributing to the plan, you will probably have to give your spouse half of the amount you contributed during the marriage. The amount you brought to the marriage is separate property.

Equitable Distribution State

New Jersey is what is called an equitable distribution state. This means that the assets in a marriage will be distributed in an equitable manner. This does not mean that they will be distributed equally. When you consult with the divorce attorney in Northfield, NJ it's important to discuss all of the economics and finances related to the marriage. The attorney will try to anticipate what the court will want to consider while protecting your rights under the law.

In general, the court will want to know about your standard of living and if there is a prenuptial agreement. The property brought to the marriage will be considered, as will the ability of each spouse to earn a living. The financial contributions each spouse made during the marriage must be considered as mentioned.

Other topics up for discussion includes who will support the children, how the house will be handled, who paid spouse education expenses and the current debts or liabilities. In other words, a complete and thorough review of anything to do with finances, money, economics, assets and liabilities will be reviewed.

Property Distributions Should be Fair According to the Law

Any property that the divorce attorney in Northfield, NJ believes is separate based on the law will not be included in the distribution. This doesn't mean the other spouse won't object, but New Jersey statutes are quite clear on this matter. Sometimes it is not a simple matter to separate the assets cleanly based on who contributed what amount.

If you are considering a divorce, then it's critical that you retain an attorney as soon as possible. Divorce is an emotional event and people do not always act rationally. You want your assets to be left intact until they can be fairly distributed. Your divorce attorney in Northfield, NJ will work diligently for a fair marital property division.

Author's Resource Box

Stephen A. Browndorf Attorney At Law has been offering family law services to Northfield, NJ and surrounding areas including Atlantic, Cape May, Ocean, Burlington, Camden and Burlington counties. For more details on Family Law, Northfield, NJ and Divorce Attorney, Northfield, NJ please visit our website

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Tags:   Family Law, Northfield, NJ, Divorce Attorney, Northfield, NJ

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Submitted : 2011-06-20    Word Count : 490    Times Viewed: 349