Equitable Division of Property and Assets in New York Divorce
If you are entering into a divorce or are considering the prospect of divorce, one important issue to consider is the division of property and allocation of other assets. In New York, all property that is acquired during a marriage is considered marital property and is subject to equitable distribution. If parties in a divorce cannot come to an agreement themselves, the court will use a number of factors to consider how to divide the property.
Protect your property and other assets by talking with a lawyer about your rights in the divorce process and how to move forward. I have more than 25 years of legal experience and have served many families throughout New York City as a family law attorney. I will help you determine what property is separate or marital property and how equitable distribution could impact you and your family.
Separate vs. Marital Property and Equitable Distribution
The first step in the division of marital property, assets and debts is to determine what is separate property and what is marital property. Marital property is subject to equitable distribution and it can be confusing to understand the difference in some cases.
Marital property is property acquired during the marriage and before the execution of a separation agreement or the beginning of a divorce action. Separate property is that which is acquired prior to the marriage, as an inheritance, as personal injury compensation, or is considered separate according to a written prenuptial agreement.
Business interests, debts, professional licenses and college degrees may also be subject to division if they are considered marital property. I have an extensive background in finance and economics that helps me to conduct accurate valuation of bank accounts, investment accounts, businesses and other assets, including high value assets. I can help you through the property division and asset protection process in an effective manner during your divorce.
Learn More About Your Rights to Asset Protection
Contact my office toll free at 888-505-6404 to schedule an appointment for a consultation.
