Arguably, the equitable division of shared assets is one of the primary concerns that couples consider when proceeding with a divorce. According to New Jersey law, equitable distribution is defined as the “distribution of the property, both real and personal, which was legally and beneficially acquired by them or either of them during the marriage”. Marital assets are typically defined as those which are acquired between the date of marriage and the date on which the complaint for divorce is filed.
Notably, there is a distinction between equitable distribution and community property. In states that practice equitable distribution, assets acquired during marriage belong to both parties regardless of title to said property. During a divorce, this property may be distributed by the courts in a variety of ways.
Factors often include: