Legal Question in Family Law in New Jersey

Equitable Distribution?

My best friend and his wife are separated pending a divorce. They have already made arragements with attorneys to divided their property and assets as follows.

wife and 2 children keep 1 family in Piscataway and pay mortgage.

husband keep house in Irvington and pay mortgage plus 1/2 mortgage for Piscataway until divorce final. Husband pays $950/mo. in child support.

Husband pay mortgage on 3rd house to be liquidated for children college education once they come of age.

Bank records indicated both parties had close to equal amounts in their separate accounts so nothing was divided there.

The question is, if the husband decides to take his share of his money to invest in a business during the separation, is the wife entitled to equitable distribution once they go to court for the divorce.

Wife is teacher, husband is chemist.


Asked on 3/27/06, 2:56 pm

1 Answer from Attorneys
Gary Moore Gary Moore Attorney At Law

Re: Equitable Distribution?

I get the feeling that the parties have come to an arrangement without the services of attornies or one of the parties does not have an attorney.

There are substantial assets and children involved and the services of an attorney is a necessity because once the divorce judgement is entered hindsight will be of little use.

The filing of the divorce complaint marks the factual end of the marriage. Assets independently acquired belong to the party making the acquisition. If a marital asset is used to purchase a new asset the new asset may be subject to equitable distribution.

Gary Moore, Esquire

www.garymoore-law.com

Read more
Answered on 3/27/06, 4:04 pm


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in New Jersey