When people divorce, it is important for them to consider all of the different ways their finances may be impacted so they can take proactive steps to prevent problems. Even when a divorce is an amicable one, these financial considerations are important when people work to come to an agreement.
When divorcing spouses in New Jersey are unable to agree on how their marital property and debt will be divided, the court has the authority to issue an equitable division of the items. Equitable distribution means that the property and debt are divided fairly between the estranged spouses. It does not guarantee that the items will be divided equally.