Marital property is divided in New Jersey under what is known as “equitable distribution.” The purpose of equitable distribution is to divide property acquired on the date the parties were married up to the filing date of the divorce complaint in a manner that is fair and just under the circumstances of your particular case. Equitable does not necessarily mean “equal” to the Court but rather think of equity in the context of fairness. Despite this, the Court can deem any allocation and distribution as “fair” and will consider several statutory factors including but not limited to the duration of the marriage, the standard of living enjoyed during the marriage, etc.
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Equitable distribution is not intended to take the place of support. There are also important tax considerations when deciding equitable distribution and you should consult with an attorney before agreeing to divide marital assets.
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Divorce is never an easy process, but the hiding of marital assets by one spouse makes a difficult time that much more challenging. If you believe your spouse is hiding assets in order to reduce your share of the final asset division, contact experienced New Jersey divorce attorney Sylvia S. Costantino promptly.
The New Jersey divorce lawyers at the Law Offices of Sylvia S. Costantino, Esq., LLC have successfully represented individuals and families throughout Monmouth, and Somerset Counties as well as surrounding areas in the State of New Jersey. Call us today at 1-732-741-2600 or fill out our contact form for more information.