Island And New York City Equitable Distribution Divorce Lawyers
Marital Assets Division of Property NY
Long Island | Nassau County | Suffolk County | Queens NY
The typical divorce involves a union of many years with considerable marital property. This can include personal property, real estate, family businesses, large or concealed debts, trust funds, joint and separate accounts, investments, insurance, pensions, and other assets. These are complex situations, and many couples are unable to reach an agreement about how to divide their property.
We Will Protect Your Interests And Seek A Fair Resolution
At the Law Office of Elliot S. Schlissel, we understand how to protect your interests during this difficult process. Our attorneys have the experience and skill to help achieve a fair and equitable distribution of your marital assets.
Equitable Distribution of Marital Property
Most states use an equitable distribution system to divide marital property, the goal being to divide the property fairly between the spouses. Fair distribution doesn’t mean equal distribution.
Equitable distribution has three steps:
- Categorizing property as marital or separate assets
- Evaluating the property
- Distributing property to each spouse
Timing is often the most important element in categorizing property. Usually, anything acquired from the date of the marriage through the date of separation will be included in the “marital estate.” Assets will then be distributed from the marital estate.
Equitable Distribution Laws
Courts generally favor increasing the marital estate, and any spouse claiming the existence of separate property needs clear evidence to support their position. Separate-property usually includes the property each spouse had before the marriage or acquired during the marriage by gift or inheritance, including personal injury damage awards. If you anticipate the division of property will be an issue of controversy, it is very important to consult an experienced family law attorney.
Contact us to discuss matters relating to equitable-distribution and our qualifications to represent you. Feel free to call toll free, any time, day or night, at 1-800-344-6431, or in Queens, Kings, New York, Richmond and the Bronx at 718-350-2802. You can also reach us in Nassau or Suffolk County at 516-561-6645. We welcome your inquires.
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