Long Branch, NJ asked in Divorce for New Jersey

Q: I have an asset overseas... is that part of any divorce settlement?

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3 Lawyer Answers
Andrew M Shaw
Andrew M Shaw
Answered
  • Somerville, NJ
  • Licensed in New Jersey

A: It depends on when and how you acquired that asset, but in most circumstances, the answer is yes.Generally, all property acquired during the marriage is subject to equitable distribution regardless of its location. There are, however, some exceptions. For example, property acquired before the wedding ceremony or after the complaint was filed is generally excluded. Likewise, property acquired by gift to from a third party to an individual spouse is generally excluded. Property acquired by inheritance is generally excluded. I could go on, but this issue deserves thorough investigation during a free consultation, which many of the lawyers here on Justia will provide (including me).

Richard Diamond
Richard Diamond
Answered
  • Millburn, NJ
  • Licensed in New Jersey

A: All assets acquired during the course of the marriage, in your name, in her name, in joint name or in the name of a business entity in which you or your spouse have an interest in are presumed to be in the pot subject to equitable distribution, regardless of whether an asset is in New Jersey or anywhere else in the world. The key is how the asset was acquired and when it was acquired but the worst thing to do is not disclose it as part of the divorce since the statute of limitations does not apply in the family court ( In NJ) to assets hidden from disclosure.

Bari Weinberger
Bari Weinberger
Answered
  • Parsippany, NJ
  • Licensed in New Jersey

A: Thank you for your question. In general, assets that are accumulated during the marriage, irrespective of location, is subject to being divided, with some limited exceptions. Additional information is required to better assist you and I suggest that you speak with an attorney so that he/she can offer you guidance with this issue.

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