What is considered marital property in New Jersey?
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In the state of New Jersey, marital property refers to any assets and debts acquired during a marriage. When couples decide to legally separate or divorce, the division of marital property becomes a crucial aspect in the process. Berggren & Turturice, a reputable law firm specializing in family law matters, has extensive experience in assisting clients with their property division needs.
Understanding Marital Property Laws in New Jersey
New Jersey law follows the principle of equitable distribution when it comes to dividing marital property between spouses. This means that the court strives for a fair, but not necessarily equal, distribution of assets and debts.
Marital property can encompass a wide range of assets, including:
- Homes and real estate
- Bank accounts
- Investment portfolios
- Retirement savings
- Business interests
- Personal property, such as vehicles and household belongings
Debts incurred during the marriage, such as mortgages, credit card debts, and loans, are also subject to division.
Factors Considered in Marital Property Division
When determining the division of marital property, the court takes into consideration several factors, including:
- Duration of the marriage
- Income and earning capacity of each spouse
- Age and health of the parties involved
- Standard of living during the marriage
- Contribution of each spouse to the acquisition, improvement, or preservation of marital assets
- Any prenuptial or postnuptial agreements
It is important to note that New Jersey is not a community property state, which means that all marital assets are not automatically split equally. The court takes a holistic approach, considering the specific circumstances of each case, to arrive at an equitable distribution.
Legal Guidance from Berggren & Turturice
At Berggren & Turturice, our team of experienced family law attorneys understands the complexities of marital property division in New Jersey. We work closely with our clients to ensure their rights and interests are protected throughout the process.
When you choose Berggren & Turturice, you can expect:
- Comprehensive analysis of your unique situation
- Expert advice on property valuation and division
- Negotiation and settlement assistance
- Aggressive representation in court, if necessary
- Guidance on post-divorce matters, such as modifications or enforcement
We believe in providing personalized attention to each client, taking into account their individual needs and goals. Our lawyers are committed to achieving the best possible outcome for you in matters related to marital property division.
Contact Berggren & Turturice for Marital Property Issues
If you are facing a divorce or separation and need guidance regarding marital property division in New Jersey, Berggren & Turturice is here to help. Our knowledgeable attorneys are well-versed in family law matters and can provide you with insight and support throughout the process.
Reach out to Berggren & Turturice today to schedule a consultation and discuss your specific needs. Let our experienced team guide you through the complexities of marital property division, ensuring your rights are protected and your interests are advocated for.
Disclaimer: The information provided here is for general informational purposes only and should not be construed as legal advice. For a comprehensive understanding of your specific case, consult with a qualified attorney.
