Division of Property
Like a majority of US states, New Jersey follows the principle of equitable division of assets.
This means that all marital property may be divided either 50/50 or not if, after weighing the numerous factors, the court concludes that unequal division could represent each party's interests more fairly.
So, in order to determine the fair shares of property the court usually considers the following factors:
- The length of the marriage
- Each spouse's age and health
- Each spouse's income, earning capacity, separate property, economic circumstances
- Any debts or liabilities
- The standard of living maintained before the divorce
- Each spouse's contribution to the couple's marital property (including a non-monetary contribution as a homemaker)
- Any written agreements between the parties (like a prenuptial agreement); and other factors the court may deem relevant