Throughout the course of a marriage most couples in New Jersey will accumulate quite a few assets. Some of the most valuable assets can include the family home, vehicles, retirement accounts and even valuable personal property, such as artwork. When a marriage ends in divorce, these assets can become the focus of the case through the property division process.
However, even if there are some obvious assets to consider in the property division process, couples who are going through a divorce should be sure to get a full view of the assets they own. In many cases, couples own more in assets than they even considered. They will likely have debt to divide as well.
Most married couples have a family home, but there may be a vacation home or rental property to consider as well. Perhaps one or both of the spouses have an interest in a business – if so, that interest will probably need to be considered among the assets to be divided as well. Funds such as cash in savings or checking accounts will need to be divided, as well as, potentially, pensions or investment account funds.
Many couples are able to work through the property division process to ensure that each side leaves the marriage with an equal amount of assets. However, some cases may lead to courtroom litigation when serious disagreements occur. New Jersey residents will want to be sure that they are aware of all of their options in the property division process so that they can make the right decisions in their own unique cases.