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What is my husband entitled to if we separate, we live in NJ
Anonymous7 views8 answers
We own a house, I have a State pension, he has 2 401K plans. I carry the medical on both of us, he is on Social Security Disability. I also have custody of my grand daughter who is 8 yrs.
Robin Jean GrayFamily Law AttorneyReading, PANJ licensed ·
In New Jersey, they have equitable distribution of marital assets. Notice it does not say equal. There are many factors that go into determining how the assets are distributed and what constitutes marital and non-marital assets. Even assets owned prior to the marriage may have some marital value. You need to contact a family law attorney to review your assets and liabilities and discuss with you the options for equitable distribution.
An equitable distribution of all your assets. Including your pension. Possibly alimony, a general rule but not by any means a 100 percent rule a third of the difference in your incomes till you retire. Custody of granddaughter shared between you in some way if both of you had custody before. The court might change this depending on what the exact custody is - not adoption, they will likely want to look at things again to see how to handle this.
Especially because of your relationship with your granddaughter and your point in life, I would consult with a family attorney in advance.
There is no "legal separation" in NJ - only divorce - unless both agree.
I concur with the recommendations of my distinguished colleagues. Under NJ EQUITABLE distribution, the assets will be divided in a fair and reasonable matter. There are no hard and fast answers. To answer your questions in a meaningful fashion, you will need to retain an experienced attorney and provide the attorney with detailed financial information. Good luck.
As for equitable distribution, your spouse is probably entitled to half of the assets acquired during the marriage. There are many other issues to consider. Please consult a local divorce attorney.
He will not be able to continue coverage through your state plan if you divorce. He likely has Medicare coverage due to being on SSD. There are ways to divide 40l(k) plans and deferred benefit plans like your state pension between two spouses, either in kind with each of you receiving an equitable distribution portion of the marital portion of each, or by valuing each and offsetting equivalent values, tho that may benefit one more than the other. You likely have alimony exposure if there is disparity in income and your husband has financial need living in separate shelter from you. Be wise and get a consultation to learn about your rights and obligations based upon the specifics of your situation. So much is very fact sensitive.
I agree with previous counsel that you should consult with an experienced family attorney to discuss your alimony exposure, equitable distribution of assets and other issues. It is correct that equitable distribution does not necessarily mean equal, but you need to know what are the possibilities in your divorce so you can make informed decisions.
Best of luck to you.
Please consider retaining an attorney who can ensure your entire financial circumstances are address. What you have provided here would be subject to equitable distribution which means it would be divided. How that actually occurs depend on many factors including what the parties may agree to in order to resolve the matter. For example the equity in the home may paly a part depending on what the parties will sell the house.