How Is Property Divided in a Bergen County Divorce?
Property division in a Bergen County divorce can be complex. New Jersey follows the principle of equitable distribution, meaning that assets are divided fairly—but not necessarily equally. Courts examine a range of factors to determine what is fair, based on the unique circumstances of each case.
Understanding how property is classified, valued, and ultimately divided can help set realistic expectations during a divorce or related family law matter.
What Counts as Marital or Non-Marital Property?
The first step in property division is identifying which assets and debts are subject to distribution. Marital property includes most assets acquired by either spouse during the marriage—such as real estate, vehicles, savings accounts, retirement plans, and investments. Even if the title is in one spouse’s name, it may still be considered marital if it was obtained during the marriage.
Non-marital property typically includes assets acquired before the marriage or received individually during the marriage, such as inheritances or personal gifts. However, if non-marital assets are commingled with marital property—such as depositing inherited funds into a joint account or using them to pay for a shared home—they may lose their separate status and become subject to division.
How Do Courts Value Property?
Once marital assets are identified, the court determines their value. Some assets, like bank accounts or publicly traded stocks, are relatively easy to assess. Others—such as real estate, businesses, or pensions—may require formal appraisals or expert financial analysis.
Accurate valuation is essential because it forms the basis for dividing property. If spouses disagree on an asset’s worth, the court may appoint professionals to provide an impartial valuation. In some cases, one spouse may retain an asset, while the other receives a larger share of a different asset to offset the value.
What Is Equitable Distribution?
Equitable distribution aims for a fair—not necessarily equal—division of assets and debts. Courts consider numerous factors, including but not limited to:
This flexible approach allows the court to tailor decisions based on each spouse’s specific situation.
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How Are Debts Handled?
Debts are also divided using equitable distribution principles. Marital debts—such as mortgages, car loans, or credit cards—are typically shared, regardless of whose name is on the account. However, debts incurred before the marriage or used solely for one spouse’s benefit are often considered separate.
The court evaluates who incurred the debt, how it was used, and who is best positioned to repay it. Even a debt in one spouse’s name may be treated as marital if it benefited the household.
Bergen County Divorce Lawyers at Marotta Blazini Dunleavy LLC Guide You Through Property Division
The experienced Bergen County divorce lawyers at Marotta Blazini Dunleavy LLC understand the complexities of property division. To schedule a consultation, call us at 201-368-7713 or fill out our online contact form. Located in Maywood, New Jersey, we proudly serve clients throughout Bergen County and the surrounding areas.
