New York Marital Property Division in Divorce

New York uses the concept of equitable distribution when dividing marital property in a divorce. This means that the assets and property accrued during the marriage are divided as evenly as possible, though this may not necessarily be 50 - 50. Every divorce case is different, with its own specific facts and circumstances. In some divorces, little property is involved. In others, a long and complicated financial history may pertain, including the family home, other real estate, a business, investments, pensions, stock portfolios, boats, recreational vehicles, and valuable jewelry or art collections. Financial considerations may also depend on child custody arrangements, on whether one spouse has tried to hide assets from the other or has been guilty of dissipating or losing assets through such activities as gambling, drug addiction, or an adulterous liaison.

The division of marital property in a New York divorce can be a hotly contested and very contentious issue. Where a divorcing couple cannot agree between themselves how such an issue should be resolved, the court will make a determination by examining many factors relevant to the case. These factors may include the length of the marriage, the standard of living established during its duration, the age, health, and earning capacity of each party, who will retain primary custody of the children, and the financial and non-financial contributions each party has made to the marriage.

Divorce Representation in New York

If you are considering a divorce in the New York area, you should educate yourself as much as possible about the legal factors which will affect you. Getting knowledgeable and skilled professional advice and guidance can help you make wise and clear-headed decisions about issues like marital property distribution that will impact you for many years to come. At the divorce and family law firm of Eiges & Orgel, PLLC, serving clients in Manhattan, Queens, and Brooklyn, you can work with a seasoned and trusted divorce attorney. The legal team has more than 75 years of combined experience. Furthermore, Attorney Kenneth Eiges has hosted radio shows and been featured on TV broadcasts about divorce issues. He is also a trained mediator as well as an experienced litigator in divorce and family law matters.

Contact the firm to arrange for a consultation about your potential divorce and marital property division. Learn how this legal process can be transitioned with less stress and more understanding today.