Marriage is viewed as a partnership, almost like a family business. It does not matter that one spouse worked during the marriage and the other stayed at home. In New Jersey, the law's concept is that by staying home, the non-working spouse made it possible for the working spouse to earn a living. Therefore, any property that was acquired during the marriage is subject to equitable distribution. There are exceptions to this rule, such as: property acquired during the marriage by either party by way of a gift from a third party or inherited property. Under such circumstances, the excluded property is not subject to equitable distribution.
Equitable distribution of marital property does not always mean an equal division. There may be reasons why one spouse would receive more or less than an equal share of an asset. For example, one spouse may get 60% of the marital home and, in return, waive her or his right to alimony. Or, one spouse may have severe health problems. These, and similar types of problem can result in an unequal distribution.
Here is a list of property typically subject to equitable distribution:
1. Businesses
2. The marital home or other real estate
3. Investments
4. Retirement funds
5. Automobiles
6. Boats
7. Gifts from one spouse to the other
8. Personal Property
