Queens Attorneys Protect Your Property in an Equitable Distribution
New York divorce lawyers work for fair division of property
One of the most contentious points in a divorce is the equitable distribution of property. The veteran equitable distribution attorneys at Sager Gellerman Eisner Attorneys at Law have developed effective strategies to cut through the emotions and achieve a fair distribution of property. Our New York law firm focuses on protecting your assets. We are particularly sensitive to the issues surrounding property distributions involving professionals and high-net-worth individuals.
What does equitable distribution mean?
Equitable distribution of marital property in a New York divorce is anything but simple. In theory, the court splits the marital assets and debts in a way that is fair to both spouses and is in accord with any valid prenuptial and postnuptial agreements you have made. The process, however, requires the gathering and presentation of a massive amount of evidence. Some of the factors the court considers include:
- Income of the spouses at the time of the divorce
- Likely financial future of each party
- Any other court-ordered financial obligations, such as alimony
- Whether one of the spouses wasted the couple’s assets
- Whether a spouse fraudulently transferred property in anticipation of divorce
- Duration of the marriage
- Age of the spouses
- Health of the spouses
- Whether one spouse can demonstrate a need to stay in the marital home — for instance, if the custodial parent needs to keep the home to raise the children
- Whether the assets are liquid
- Whether it is feasible to split the property down the middle
What is marital property?
In New York, marital property generally is property that was acquired during the marriage by either spouse. Debts as well as assets can be marital property. There are exceptions, however, such as personal gifts and inheritances received by a spouse during the marriage, which are treated as nonmarital assets.
Property acquired before the marriage is generally considered separate property, but it can become marital property if joint assets were used to maintain the premarital property or if the nonmarital property was commingled with marital assets, such as in a joint banking or investment account.
To determine what constitutes marital property, the court requires extensive documentation that traces the origin and history of any contested assets. Our attorneys assemble those documents and present them to the court in the manner that best advances your position.
Contact our New York State equitable distribution attorneys today
Allow us to make sure you get your fair share of the assets during a divorce. You can reach us through our online contact form or call us at 347.625.1038 for a consultation. From our offices in Queens and Forest Hills, we serve clients in Nassau and Queens Counties and the New York City boroughs of Manhattan, Queens and Brooklyn.