New Jersey is among the 41 states that have equitable distribution rules. Therefore, a judge may divide property fairly when a person gets divorced, but each spouse may not get 50% of the assets. The judge will generally consider many factors about each person’s past and current circumstances and attempt to determine how those might impact their future.
When dividing property equitably, the judge will try to determine who was responsible for maintaining the property and any upgrades that were done on it. The judge will also consider how long the couple was married and what each person brought to the marriage. They may also consider each person’s training and education level. Finally, the judge may consider what one person gave up to further the other person’s career.
The judge will also look at the current income levels of both people when establishing property division in a divorce. They may also consider each party’s physical and mental health as well as the tax implications of each possible decision. The judge will also consider the property’s current value.
While no one can see into the future, the judge will try to make an educated guess about how much each person can make once the divorce is final when dividing property. They will try to give each person the property that they feel will best benefit them in the future.
Judges in equitable distribution states try to divide property equitably during a divorce, but that does not mean that each party will get the same amount since each party’s future earning potential is taken into account as well.