Establishes "New Jersey Veterans and Military Spouses Asset Protection Act."

The New Jersey Veterans and Military Spouses Asset Protection Act provides enhanced creditor protections for veterans, active-duty service members, and their military spouses. It exempts both their primary residence and one secondary residence (e.g., seasonal or retirement home) from being seized to pay debts, with exceptions for mortgages, taxes, or judgments from fraud/criminal activity. The bill also shields retirement accounts, pensions, disability benefits, and veterans’ benefits from creditors, and exempts up to two vehicles per household (valued at $25,000 each) from seizure, excluding similar exceptions. These protections apply to debts incurred on or after January 1, 2025, and supplement existing federal safeguards like the Servicemembers Civil Relief Act.