Are assets and liabilities automatically divided 50/50?
No. Assets and liabilities are equitably (or fairly) distributed based upon sixteen (16) factors listed in N.J.S.A. 2A:34-23.1(equitable distribution criteria). Each factor may not apply to each case. Equitable distribution requires that each asset or liability be identified, valued, and equitably (or fairly) distributed. Generally, any asset or liability acquired or incurred prior to marriage is not eligible for distribution. Any asset acquired by gift from anyone other than a spouse (third party gifts) or inherited during the marriage is exempt from distribution.
