One of the most important issues that individuals considering a divorce in New Jersey must address is division of property.
A fair division of assets first requires distinguishing marital property from separate property.
Marital property refers to assets acquired during the marriage, such as a couple’s home, savings, cars and collectibles.
Separate property refers to property acquired prior to marriage, such as those obtained through an inheritance or gift.
Difficult questions arise when one spouse asserts that they owned something prior to the marriage, because funds are often commingled during the marriage.