Before getting your divorce finalized by the court, you and your spouse will have to come to agreement on property division, or have it decided by a judge. In New York, equitable decision is the process by which property is divided in a divorce.
Equitable distribution means a manner which the courts consider fair and just, not necessarily 50-50. If you are facing a property division matter in New York, it is important to have an experienced divorce lawyer on your side.
At The Law Firm of Poppe & Associates, PLLC, we have significant experience handling equitable distribution matters for clients in New York County, Kings County, Bronx County, Queens County, Westchester County, and surrounding areas.
Marital and Separate Property
Before dividing property, a determination must first be made as to whether the property is marital or separate. Generally both spouses have an interests in property that is deemed marital. Property that is deemed separate frequently is excluded from division via equitable distribution. There are exceptions to this exclusion of this separate property thus it’s important to have legal representation when discussing the division of property.
Marital property generally includes:
- Assets and property acquired during the marriage
- Debt acquired during the marriage
Separate property generally includes:
- Assets and property acquired prior to the marriage
- Debt acquired prior to the marriage
- Certain gifts and inheritances acquired during the marriage
- Personal injury compensation
In the event of a divorce, separate property generally remains separate, while marital property is generally divided equitably between the spouses. Equitable division does not mean equal division as New York is not a community property state. Equitable division means a fair division. To read more about equitable distribution please see DRL 236(B).
At The Law Firm of Poppe & Associates, PLLC, we have significant experience handling property division disputes for clients in New York County, Kings County, Bronx County, Queens County, Westchester County, and surrounding areas.
Contact us today online or by telephone at 212-792-9501 to arrange an initial consultation with a New York City Divorce Attorney experienced in division of property.