But getting a divorce is difficult and can be expensive. Here are seven things that all men and fathers considering a divorce in New Jersey need to keep in mind as they start the process. 1 – New Jersey has Fault and No-Fault Divorce. A no-fault divorce means neither side blames the other for the end of the marriage.
Does it matter who files for divorce first in NJ?
To begin your divorce process, either you or your spouse must file a divorce complaint with the court. The one who files is named the Plaintiff, and the other spouse will be the Defendant. No, it does not matter who filed for divorce first, in New Jersey, and it does not matter who is Plaintiff and who is Defendant.
How is marital property distributed in New Jersey?
For detailed information on equitable distribution of marital property in New Jersey, see Equitable Distribution in New Jersey, by Susan Bishop. Upon a divorce, there are three ways to equitably (fairly) distribute the family home. 1. Sell the House. The easiest option is to sell the home and divide the proceeds.
How does a divorce work in New Jersey?
Divorce Process 1 Bifurcation of marital status. Bifurcation means that both parties in a divorce can legally divide their divorce into two stages. 2 Disclosing Assets. According to New Jersey law, each spouse must fully disclose all assets and debts they have so that equitable distribution can be fairly applied. 3 Spouse’s Default. …
How is the value of a house determined in a divorce?
In the simplest terms, you take the house’s (agreed-upon) value and subtract what is owed, and that net figure is the amount of equity. Divide that amount in half to come up with each spouse’s share, at least as it pertains to divorce in California and other community property states. Here is an example: Home value: $1,250,000
What happens to the house in a divorce?
Each spouse would be entitled to receive 50% of the equity. So, if you got married, bought a house together and it’s now worth $1 million, then you would each be entitled to $500,000. But life and a division of the home in a divorce isn’t always that cut and dried.
