When it comes to the division of property, our ultimate goal is to find solutions that not only meet our client’s individual needs, but also feel fair and equitable to their spouse. We assist our clients to identify all of the marital and separate (non-marital) assets and debts, we work with appropriate experts to value the assets, and we negotiate and advocate on our clients’ behalf for the most equitable way to distribute the assets.
How New York Divorce Property Division Works:
In New York, marital property is divided in a divorce based upon the legal concept of equitable distribution. One of the most important issues that couples face when divorcing or legally separating is how to divide the assets and debts that were acquired during the marriage. These assets and debts are called Marital Property. It is also important to clarify what assets and debts were accumulated prior to the marriage or inherited by one spouse during the marriage. These assets and debts are called Separate Property. When a spouse has contributed separate property to a marital asset, they may be entitled to a separate property credit against that asset. Typical assets to be divided include homes, businesses, bank and investment accounts, retirement accounts, stock options and other deferred compensation, vehicles, jewelry, antiques and art.
A qualified divorce team is a key resource in helping couples divide property in an equitable way. The divorce team is made up of neutral specialists who help the couple jointly and independently get the information, emotional support and resources they need to make decisions about their future including property valuation, division, and distribution.
To discuss property division during divorce and reach a positive solution, contact us today.
Learn More About Divorce Property Division:
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When someone is first thinking about filing for divorce, they don’t often think about the lack of privacy that comes with the traditional divorce process. In New York, courtrooms are open to everyone. Reporters may be in the courtroom, neighbors may be in the courtroom, parents from your kid’s school may be in the courtroom…you get it. Read More...
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