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Are separate bank accounts marital property NJ?

Any accounts specifically addressed or earmarked as separate property in a prenuptial or postnuptial agreement will typically remain exempt from division in modern New Jersey divorce proceedings.

What is a marital settlement agreement in NJ?

A Marital Settlement Agreement (MSA) is a legal document used in New Jersey that spells out the terms of a divorce and provides a framework for the relationship between former spouses after divorce. In New Jersey, MSAs are also sometimes called Property Settlement Agreements.

What does settled mean in a divorce?

Settlements mean that the case is not decided by the Judge (Court). Instead, you and your spouse agree to resolve the matter without the Judge making a decision. Settlements can happen before the day of trial, on the day the trial is scheduled, or even in the middle of the trial.

Is a spouse entitled to inheritance money in NJ?

Generally speaking, no, your spouse is not entitled to your inheritance. You see, New Jersey state law specifies that all property acquired during the marriage by either spouse by way of inheritance (sometimes called devise) or gift by a third party will not be subject to equitable distribution.

Are bank accounts matrimonial assets?

While it is quite clear that something used by both parties should be a matrimonial asset, such as money in a jointly-held bank account, a shared car, or the matrimonial home, sometimes an asset held by just one of the parties is also liable to be divided as a matrimonial asset.

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