What is considered marital property in New Jersey?
The definition of marital property involves a lot of nuances in New Jersey, and a direct conversation with a property division attorney is often the best way to understand exactly what would be considered marital property in your unique situation. That said, in general, marital property is: Property acquired during the marriage, even if it’s only in one person’s name Separate property that has been improved during the marriage, particularly if the improvement is the result of direct efforts or contributions of the parties Separate property which is then actively managed or invested in using marital funds during the marriage (although this is a fact-sensitive analysis) Likewise, separate property, subject to exceptions, is typically: Property acquired prior to marriage that hasn’t been improved during the marriage Gifts from third parties Inheritance Property acquired after filing for divorce However, because New Jersey is an equitable distribution state, the courts consider separate property in determining each person’s financial circumstances and how to fairly divide the marital property.