Divorce is both a legal and emotional process. It is technically the legal process of formally dissolving a marriage. People tend to experience intense emotions throughout the divorce process. Their feelings can lead to irrational behavior and additional disputes with their spouses.
Certain types of conflict can worsen divorce disputes. Property division is a perfect example. New Jersey has an equitable distribution law. A fair and appropriate division of both marital assets and debts is the standard expectation in a New Jersey divorce. Spouses may have a hard time agreeing on what solutions are fair, especially if they have an emotional attachment to the assets under consideration.
What marital property is most likely to trigger an emotional response during divorce?
Family pets
People generally don’t think of their pets as property. Their dogs, cats and other companion animals feel more like a part of their extended families. Unfortunately, the New Jersey family courts don’t view animals that way. Instead, they look at pets as personal property. A judge doesn’t divide pet custody but rather awards the pet to one spouse as part of the overall property division process. People often struggle with the idea of giving up access to a beloved pet or turning over a decision about that pet to a judge.
Real estate holdings
The primary residence where spouses live together and any vacation properties they own can be the setting of many treasured family memories. Real estate can also be a source of intense personal pride and much of someone’s wealth. People fear losing their homes in a New Jersey divorce and may resent the idea of never going to the cottage or lake house again. People often become so emotional at the prospect of leaving their homes that they don’t stop to consider whether keeping the house is practical.
Retirement savings and pensions
When it comes to retirement savings, people usually don’t feel attached to the money itself but rather the future security that the retirement savings represent. They may find it difficult to give up some of their savings when they file for divorce. It may seem unfair to give away a portion of an account that only one spouse contributed to during the marriage. In most cases, the courts view any amounts saved during the marriage as part of the marital estate.
Spouses who take the time to learn about divorce statutes and set specific goals are less likely to waste time and money during divorce because of their emotional reactions to certain property division issues. Thinking about long-term financial recovery and happiness may benefit those preparing for property division matters in a New Jersey divorce. Spouses with a focus on the future may feel less emotional about making concessions during divorce proceedings.