Tag Archives: Equitable Distribution
What happens if the parties in a divorce cannot agree on the value of their assets?
Normally, the court is going to divide the marital assets and liabilities so the parties have an equal distribution of those marital assets and liabilities. Case law is very clear that if the court decides to make an unequal distribution of the assets and liabilities there has to be a compelling reason. Therefore, it… Read More »
What happens to your pension in a divorce?
Pensions are also subject to equitable distribution. The pension earned during the marriage is a marital asset and the pension earned prior to marriage would be considered a non-marital asset. Therefore, one generally needs to look at the value of the pension at or about the date of marriage to determine what is the… Read More »
What happens to your home in a divorce?
Marital homes are usually one of the largest assets, and this is a problematic one since it is not a divisible asset like a pension or checking account. The court has the power to award one spouse exclusive use and possession of the marital home. This generally happens if the primary caretaker of the… Read More »
Difference between marital assets and liabilities – and non-marital assets and liabilities
Equitable distribution deals with the dividing up of assets and liabilities. The court must first identify what is a non- marital asset and liability and what is a marital asset and liability. A marital asset or liability is defined as being incurred during the marriage, either individually or jointly. In addition to this, enhancement… Read More »
