Upon divorce, marital property in New York State is supposed to be divided
equitably. It is not an "equal" or automatic 50-50 distribution
between spouses, as it is in community property states like California.
Marital property is property that is acquired during a couple's marriage.
It is distinguished from "separate property," which is property
owned by each individual before the marriage, or property acquired by
each party by gift, inheritance or as a tort settlement (and kept separate).
In allocating marital property in a divorce, judges and negotiating lawyers
look at factors listed in the divorce statute that are considered in deciding
what percentage of these assets will be assigned to each partner in the
settlement. If you schedule a free consultation with me, I will be happy
to go over the factors with you.
Obviously, not all factors will apply in each case. There is much room
for subjectivity in the application of these items. The statute and the
cases decided under it serve as guidelines for judges and lawyers in litigating
property issues in divorce cases in New York.
If you have property issues, such as a house, condo, business, professional
practice, or retirement plans, call our office to schedule your free consultation.
I have been successfully handling equitable distribution cases for decades.
I have a wealth of knowledge that will help you get what you are legally
entitled to.
Call today to take advantage of a complimentary consultation. This offer
is good till the end of January. 212.734.1551.
Warm regards,
Lois