When New Jersey residents get stressed out during the property division part of their divorce cases, it is understandable. After all, many married couples spend years – even decades – accumulating wealth together. To have a divorce case implement the necessity of dividing all of those assets can be a difficult thing for anyone to go through. To make things even more complicated, there are a wide variety of factors that can come into play during the property division process – unless the couple can reach an out-of-court agreement.
If the court needs to make the property division decisions in a divorce case, the length of the marriage and how each spouse contributed to the accumulated assets will be significant factors to consider. In some marriages, one spouse is the primary “breadwinner,” while the other spouse focuses on raising children. But, just because one spouse contributed more money to the overall good of the marriage is no reason for an uneven split of the assets. Why? Well, because the court will also look at how the soon-to-be ex-spouses will be able to support themselves after the divorce is finalized.
Many other factors may come into play during the property division process as well. The value of the assets in question is significant, as are any debt owed by the couple. Debt, just like assets, will need to be divided up.
At our law firm, we do our best to attempt to make sure that our clients understand their options during the property division part of their divorce case. For more information about how we work toward this goal, please visit the property division page of our law firm’s website.