New York Equitable Distribution Lawyer
Let Eiges & Orgel, PLLC Protect What’s Rightfully Yours
New York is an equitable distribution state. This means that, when filing
property division will be handled in a way deemed “most fair” to both sides.
What it does NOT mean is that all of your property will be split 50/50
between you and your spouse. Many factors regarding the marriage and the
contributions of each party will be taken into account by the court in
making this determination. The courts have considerable latitude in deciding
who gets which assets.
At Eiges & Orgel, PLLC, we have over 40 years of experience handling
the complex issues involved in property division. We can carefully review
the facts of your case, create a comprehensive strategy for getting you
the fairest share of assets, and explain the process clearly as you go
through this difficult time. We believe in working with the other party's
attorney in order to get you the best results possible, but we are also
very aggressive when they are not willing to be fair.
Contact Eiges & Orgel, PLLC today at (347) 848-1850 to
take advantage of a risk-free case evaluation.
How Property is Divided in a New York Divorce
To ensure your assets are divided fairly, it is necessary to have a proper
valuation. It will also be necessary to determine which assets, if any,
were owned by one party prior to the marriage. These are both considerable
factors. Assets can include vehicles, homes, jewelry, antiques, art, businesses,
retirement accounts and investment accounts.
During the equitable distribution phase of your divorce, the court will
also look at:
- The overall length of the couple’s marriage
- The income and property of each spouse
- The non-financial contributions of each spouse
- The age, health & earning capacity of both spouses
- Whether or not spousal support was awarded
- The wishes of both spouses regarding certain assets
- The liquid & non-liquid nature of the property involved
- Any wasteful dissipation of assets prior to divorce
Equitable Distribution vs. Common Law Distribution
Prior to becoming an equitable distribution state, New York was a common
law property state. This means that a couple’s property was distributed
according to the manner in which title was held. For example, if only
your name appeared on the title of your house, you would get to keep it after a
divorce; however, this has since changed. Now the court must divide a couple’s
assets as fairly and equitably as possible.
Still, this does not mean that there will be a 50/50 split.
What property is subject to equitable distribution?
Under New York’s equitable distribution laws, only your “marital
property” will be divided during a divorce. This means that you
and your spouse will get to keep any separate property that was brought
into the marriage.
In the state of New York, “separate property” can include any
assets that were:
- Acquired by one spouse prior to the marriage
- Received by one spouse as an inheritance or gift
- Acquired as compensation for a personal injury
Characterized as such in a
Marital property includes any assets that were acquired during the marriage—regardless
of who holds the title. With few exceptions, this may include both spouses’
income, purchases made with that income, and retirement benefits.
Let Eiges & Orgel, PLLC Guide You Through the Process
An individual who is getting divorced needs experienced legal counsel to
not only sift through all of the details of the different assets and their
potential values, but to present one's case in a way that brings to
that person the fairest and most beneficial asset distribution. If you
are facing divorce, it is imperative that you contact a seasoned New York
divorce attorney at once. Doing so can maximize your chances of receiving
the best possible outcome in your case.
Having helped thousands of clients achieve a successful resolution to their
divorce, Eiges & Orgel, PLLC is well-poised to help you pursue the
outcome you deserve. Attorney Kenneth Eiges has hosted a radio show on
divorce issues, appeared on numerous TV shows and written articles on
the subject. Linda Eiges has hosted radio shows along with him and has
also testified and advised the City Council on legal issues. This level
of expertise benefits our clients greatly.
Contact an NYC divorce lawyer at our firm for help pursuing a just resolution to your property division.