Under New Jersey Law, “marital property includes all property, both real and personal, which was legally and beneficially acquired by either [spouse] during the marriage. This excludes any gifts (unless given to one spouse from the other) or inheritances.” 

When it comes to the division of assets in a divorce, New Jersey, specifically, is an equitable distribution state meaning that rather than marital property being split 50-50 as is the aim in community property states, assets are divided in a way which is determined to be fair but not necessarily equal.

In New Jersey. any assets and debts a married couple acquires either individually or together during a marriage are considered legally to be “marital property,” regardless of how the property is titled.

In equitably dividing property, New Jersey courts consider the following factors in their determination:

• Duration of the marriage;
• Age and physical/emotional health of each spouse;
• Each spouse’s income;
• Any debts or liabilities;
• The couple’s standard of living;
• The economic circumstances of each spouse;
• Each spouse’s contribution to the couple’s marital property (including a spouse’s contribution as a homemaker);
• Earning capacity of each spouse;
• Any written agreements before or during the marriage concerning property distribution (such as a prenup); and
• Any other factors the court deems relevant.