Nancy D. Kellman attorneys help you navigate New York's equitable distribution laws
When a couple files for divorce in New York state, the law mandates all marital property be distributed between them fairly and equitably. The courts base their decisions regarding equitable distribution on a number of factors, among them are the duration of the marriage; the needs of the parent with child custody; the pension, health insurance, or other benefits one spouse will lose; and the probable future financial circumstances and earning potential of each spouse.
What constitutes marital property?
Marital property includes all assets acquired by one or both spouses during their marriage. This includes the income of both, any property purchased, retirement benefits, investment income, etc. Whenever possible, we encourage both parties to work together in deciding how to divide their assets and debts.
In the event that an amicable consensus cannot be reached, the division of marital assets or property is decided by the courts. In this instance, particularly crucial in instances involving significant assets, Nancy D. Kellman attorneys serve as powerful advocates, presenting your case to best advantage.
If you have questions about the equitable distribution of marital assets, please click this link to email us or call me, Nancy D. Kellman, or my colleague Jane Stack at 914-328-0900 to schedule a meeting.