Equitable Distribution of Property
SPLITTING PROPERTY FAIRLY WITH EQUITABLE DISTRIBUTION
In community property states, each spouse has equal ownership interest in all property acquired or owned by a couple during the marriage, which is split evenly in the event of a divorce. In equitable distribution states such as New York, property acquired individually during the course of the marriage is divided fair and equitably, but not necessarily equally, between both spouses.
Having a New York attorney familiar with property division laws can ensure you receive the fairest settlement.
Equitable Distribution of Property
SPLITTING PROPERTY FAIRLY WITH EQUITABLE DISTRIBUTION
In community property states, each spouse has equal ownership interest in all property acquired or owned by a couple during the marriage, which is split evenly in the event of a divorce. In equitable distribution states such as New York, property acquired individually during the course of the marriage is divided fair and equitably, but not necessarily equally, between both spouses.
Having a New York attorney familiar with property division laws can ensure you receive the fairest settlement.
DETERMINING FAIR PROPERTY DISTRIBUTION
The first step in distributing property is determining what property will be distributed. Property can be defined as “marital property” or “separate property”, the difference being whether the property was acquired before, during or after the marriage. Separate property does not get divided in equitable distribution states, however marital property does, and it can be a complicated matter. I have the experience and attention to detail to understand the various nuances of your joint financial situation,
to determine the fairest split of assets and debts.
TYPES OF PROPERTY
Stocks and Bonds
Automobiles
Bank Accounts
Investment Accounts
Marital & Vacation Homes
Home Furnishings
Timeshares
Retirement Funds
Pensions and Annuities
Businesses
NEGOTIATING OUTSIDE OF COURT
When appropriate, mediation can be a more cost and time-effective way to resolve fair property distribution outside of court, allowing you greater control over the outcome. My experience has equipped me to handle complex and challenging divorces with even more complex joint and separate assets and debts.