Starting Over
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Equitable distribution
If you live in an ED state... were assets and debts divided up by the percentage of your income?
For example, if you made 60% of the household income, was it deemed "equitable" for you to get 60% of the marital assets and 60% of marital debt?
Despite whether or not it actually turned out this way for you, isn't this what should happen in an equitable distribution state? It can't just be "50/50" on everything...that would be how "community property" states handle it. Right?
Re: Equitable distribution
There is no way we can tell you how a court will rule. There are many different factors that come into play with equitable distribution, it's not as simple as "You make 60% you get 60%." Courts look at many factors the length of marriage, the need of each party, if there is a caregiver who needs to stay in the marital home with a minor child, the value of marital assets and many others.
The problem with Equitable Distribution is it is hard to predict an outcome.
I'm fairly certain that in NJ each spouse should get personal property, debts and assets that add up to their percentage of their total value of the property. Obviously this should be done as fairly as possible and something like gambling debts from one spouse should be the greater responsibility of a particular spouse.
Often it's easier to split things 50/50 (things like airline miles and credit card reward points) when there's a monetary settlement in place. When you have children it's not so easy as a 50/50 split because of child/spousal support.
Personally, the assets and debts in my marriage were premarital (he had stocks bought before we were married and I had student loan debt). Each of us took what we came into the marriage with more or less and split the rest (he got his car, I got mine). He made all of the money at the time of the divorce so a settlement was agreed upon for ED and he kept the rest of the money.
ETA: I agree with what JoJo said regarding the uncertainty distribution in an ED state.
If you want to know what the court will likely do in your jurisdiction, consult an attorney in your area who specializes in family law. Any advice you get here will be guesses, nothing more.
I'm in NJ and it didn't matter. What we agreed to in our PSA is what mattered and what my attorney went by. If you two can't agree, there's really no telling of what the court will decide for you - regardless of the state's laws. If you're debating if a PSA is worth it, it absolutely is, as well as an attorney.
Good luck.