Painter v. Painter

At the trial it was determined that the total assets of plaintiff, Stephen Painter, had a value of $230,309 and those of defendant, Joan Painter, a value of $99,709. However, in determining the value of property subject to equitable distribution pursuant to N.J.S.A. 2A:34-23, the court excluded assets which were acquired by gift or inheritance during marriage as well as property owned prior to marriage. Pursuant to this formula, the court determined the plaintiffs and defendants assets available for distribution, as being $82,571 and $58,199, respectively. In addition, plaintiffs income in 1971 was found to have been $32,218.