Equitable Distribution is the division of assets and property.
Equitable Distribution
Under the state of New Jersey, there is “equitable distribution”
E. NJ Statute: 2 A: 34-23.1 Equitable Distribution.
In making an equitable distribution of property, the court shall consider, but not limited to, the following factors:
- The duration of the marriage.
- The age and physical and emotional health of the parties.
- The income or property brought to the marriage by each party.
- The standard of living established during the marriage.
- A written agreement made by the parties before or during the marriage concerning an arrangement of property distribution.
- The economic circumstances of each party at the time the division of property become effective.
- The income and earning capacity of each party.
- The contribution by each party to the education, training or earning power of the other.
- The contribution of each party to the acquisition, dissipation, preservation, depreciation or appreciation in the amount or value of the marital property, as well as the contribution of a party as a homemaker.
- Tax Consequences.
- The present value of the property.
- The debts and liabilities.
- Trust funds.
- The extent to which a party deferred achieving their career goals; and any other factors which the court may deem relevant.
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.
L.1988,c153,s.4;amended 1997, c.407.