New Jersey residents who have achieved significant success will often credit their loved ones with helping them in their advancement. However, during divorce some of these same people argue about how much their spouse really contributed, and how much they are entitled to when the marital property is divided.
State law regarding property division in a family law case considers many factors when trying to achieve equitable distribution. Understanding the weight given to one spouse’s contribution to the other is important to try and reach a fair outcome.
Assessing contributions from one spouse to the other when dividing property
Equitable distribution does not mean equal. In other words, the property will not automatically be divided in half. The courts strive for what it considers to be a fair division. That might mean one person gets more than the other.
People who have achieved success and accrued major assets might have had help from their spouses in various ways.
For example, one spouse might have stayed home to manage the household, cared for children and contributed financially to the other’s training and education. If a person was running a business or started a professional practice, the other person’s assistance could have spurred them to greater heights than they otherwise would have reached. This will be factored in when the court decides how to divide property.
With a marital home and children, the person who was the primary caregiver during the marriage and who will have primary custody after the divorce might get the marital home, as it will make the transition easier for the child.
Complex property division may require experienced representation and help
People who helped their spouse with their career should be aware of how that is assessed in the divorce. Perhaps the sides can negotiate and come to agreements for fair property division on their own. If that is not possible, they will need to have the court decide.
Being aware of what the court will consider when trying to effectively divide the property in a fair manner can be complicated. This is difficult when people claim they helped the other with their successful career and accumulation of wealth. In these situations, it is vital to have professional assistance to handle the case.
