Beach Haven Attorneys Experienced in Equitable Distribution
First of all, Beach Haven residents going through a divorce may be wondering what “equitable distribution” is, and how it may affect their potential divorce. Equitable distribution, in a nutshell, is the process by which a court will divide property belonging to the couple during the marriage, which you can imagine is no easy task. It involves more than just pooling dollar amounts together and splitting the total in half.
There are many factors considered in the division of marital property. Some of those factors include, but are not limited to: the income or capacity to earn income of each party (which includes absence from the job market and employment skills); the need of the custodial parent to occupy the marital home; and any factor a court says is “relevant.” In New Jersey, “marital fault” is not considered when dividing property.
But Beach Haven clients should not fret about all of their assets, because some will never be included when distributing assets to your soon-to-be ex-spouse. Any assets obtained before or after the marriage will not be included in the calculation of the equitable distribution, unless money earned during the marriage is used to purchase property after the marriage is over – those assets can be included in the calculation. Other property not included in the equitable distribution are gifts or inheritances from third parties.
College Costs, and How They Relate to Your Divorce
A hotly debated topic in divorce law is whether an individual is required to pay for his or her child’s college education after a divorce. In New Jersey, case law dictates the answer is yes, after considering a slew of factors. In fact, New Jersey is one of the most liberal jurisdictions in the country when it comes to the requirement to contribute to higher education costs after a divorce.
New Jersey Family Courts have decided that education is an important cost to contribute to, so if the parent is financially capable, courts may lean toward requiring him or her to contribute to the college costs of their child. This is, in fact, the trend that courts have taken because higher education, in the eyes of the courts, is viewed as a necessity.
When considering claims for contribution towards a child’s college-related costs, a court will factor in the ability to get financial aid through grants or loans, the finances of each parent individually, and if the parent would have contributed towards the higher education, to name just a few of these factors. This is where divorces can become complicated, and the Beach Haven divorce attorneys at Villani & DeLuca are ready to stand by you and figure out these difficult decisions and calculations.
Beach Haven Family Law Attorneys
Divorcing parties in Beach Haven, NJ can seek the assistance of the attorneys at Villani & DeLuca, who can more than adequately serve these and other divorce related needs. Even if you believe that you can do this alone, it is wise to have our experienced attorneys help you navigate the mucky waters of divorce law. Give us a call for a free consultation so that we can discuss the particulars of your case in greater detail. Our office number is (732) 965-3350.