When you go through a high-asset divorce in New Jersey, the lifestyle you and your spouse maintained during the marriage can influence how the court divides assets. New Jersey follows an equitable distribution model, which doesn’t guarantee a 50/50 split, but the standard of living you both enjoyed can impact property division and other assets.
New Jersey’s equitable distribution laws
New Jersey courts base asset division on fairness, not strict equality. The court will look at various factors to determine fairness, including the financial lifestyle you and your spouse had. If you both enjoyed a lavish lifestyle—frequent vacations, expensive cars, or luxury homes—the court may consider this when dividing assets. A higher standard of living might result in a more favorable settlement for the spouse who had a more comfortable life.
The role of alimony in high-asset divorces
In high-asset divorces, the court will likely use your lifestyle to help decide alimony. If one spouse earned most of the income while the other stayed home or earned less, the lower-earning spouse may receive alimony to help maintain a similar standard of living post-divorce. The court will look at the length of the marriage, the needs of the lower-earning spouse, and the income required to support the lifestyle you had.
Impact on property division
If you and your spouse have accumulated significant wealth, such as real estate, investments, or valuable personal property, your lifestyle can affect how the court divides these assets. The court will assess whether you both supported your lifestyle together or whether one spouse primarily funded it. If the court determines that one spouse contributed more to maintaining the lifestyle, that spouse might receive a larger share of the assets.
In New Jersey, the court aims to allow both spouses to maintain a standard of living similar to what they experienced during the marriage. As a result, the lifestyle you shared with your spouse can influence decisions regarding both alimony and asset division during a high-asset divorce.