Thursday, July 20, 2017
As a skilled New Jersey Divorce Lawyer, I am often asked by clients about martial property. The divorce and the marital property is determined based on the filing of the complaint for divorce, which is the end date, and the date of the marriage. Anything accumulated within that timeframe is considered marital property.
You file a complaint for divorce on January 1. On March 1, an item is purchased by either spouse and that’s technically not marital property. If you dipped into your 401K and cashed it out after the complaint was filed, and you used that money to buy a diamond ring of some sort, that is part of the marital property. The concept is a very bright-line rule, and the courts had to do it to set up some timeframe. You get married, that starts it. You file your complaint for divorce, that ends it. Any accumulation of assets during that time is considered marital property.
Are you trying to get access to martial property? Contact our experienced New Jersey Divorce Lawyer for guidance.
This educational blog was brought to you by Christopher Leon Garibian, an experienced New Jersey Divorce Lawyer.