Divorce house settlement: spouse wants the home

[Unregistered]

How do we do an equitable agreement for our home?

[sandra]

Re: Divorce house settlement: spouse wants the home

What is ‘equitable distribution?’

Most states employ "equitable distribution" in dividing marital (community) property as a result of the dissolution of marriage (divorce). Instead of a strict fifty-fifty split (in which each spouse receives exactly one-half of the marital or separate property), equitable distribution looks at the financial situation that each spouse will be in after the termination of the marriage. While equitable distribution is more flexible, it is harder to predict the actual outcome, since the various factors are subjectively weighed. Factors considered in equitable distribution include:

1. Earning power of the spouses (one might be much greater than the other)

2. Separate property of the spouses (one might be greater in value than the other)

3. One spouse having done all the work to acquire the property

4. The value that one spouse contributed as the home-maker for the family

5. Economic fault of one spouse in wasting and dissipating marital property

6. Duration of the marriage

7. Age and relative health of the spouses

8. The responsibility for providing for children of the marriage

9. Spousal abuse or marital infidelity (to penalize the offending spouse).

[sandra]

Property Settlements / Equitable Distribution

New Jersey Property Settlement

by Law Offices of Jeffrey M. Bloom

The process of arriving at an equitable distribution can involve lengthy negotiations, balancing future costs against existing assets. For example, if one parent agrees to pay college tuition or for a bar mitzvah, he or she can rightly argue that the property settlement agreement should consider this. Other issues include:

• Premarital assets
• Existence of a prenuptial agreement
• The role of one spouse in supporting the other during medical school, law school, or other advanced educational program
• The amount of time and energy put into a family business by each spouse
• Length of the marriage
• Pensions
• Stocks bought during the marriage
• Whether premarital assets were used to purchase marital property
• Inheritances
• The ages of any children and the length of time they have lived in the marital home

Law Offices of Jeffrey M. Bloom

A West New York, New Jersey, law firm serving communities such as Englewood, Jersey City, Hackensack, North Bergen, Weehawken, Union City, Bayonne, Kearny, Secaucus, Hoboken, Westwood, Ramsey, Teaneck, Paramus, Fair Lawn, Wayne, Ridgewood, Ridgefield, Edgewater, Cliffside Park, Fort Lee, Newark, Passaic, Clifton, Guttenberg, Bergenfield, and Montvale.

Bergen County - Hudson County - Passaic County - Essex County

Law Offices of Jeffrey M. Bloom

5700 Bergenline Ave.
West New York, NJ 07093

Phone: (201) 868-9300
Fax: (201) 868-9302

E-mail: Contact the Law Offices of Jeffrey M. Bloom in West New York New Jersey

Parkview Plaza Atrium Level 1200
East Ridgewood Avenue
Ridgewood, NJ 07450

Phone: (201) 816-8688
For New York matters, call
Phone: (918) 402-1100

[tomassentosa]

Divorce house settlement: spouse wants the home

ya its to diffcult but in this jnaratonl l its ho diifucult but not impossible"