After a divorce, it is common for the marital home to be sold unless one party wants to buy out the other party’s interest in the home, or if the couple has young children and the couple can afford to maintain the home for them. To the extent the party’s agree or there is a court order directing … [Read more...] about How Are Proceeds from the Sale of the Marital Home Divided After Divorce?
When spouses file for divorce, their marital property will be equitably distributed between them with equitable not meaning equal but fair under the circumstances. Generally, it is simple to determine whether an asset constitutes marital property. However, in the case of stock options, it may be … [Read more...] about What Are Your Rights to Your Spouse’s Stock Options in Divorce?
Generally, trusts are considered the separate property of the spouse named as beneficiary. However, that is not true if the assets in the trust contain marital property. The distinction between marital and separate property is important because only marital property is subject to equitable … [Read more...] about What Should You Do If Your Spouse Puts Marital Assets into a Trust Without Your Consent?
In a divorce, the laws of equitable distribution distinguish marital property from separate property. Technically, only marital property, that is, property acquired after the parties’ wedding date, will be divided between the parties in a divorce. Separate property, that is, property that is … [Read more...] about Are Trust Assets Marital or Separate Property in Divorce?
Most couples come into a marriage with some existing income and assets that may generate tax liability. What responsibility each spouse has for the taxes generated by the other’s assets can be complicated. Tax rules and matrimonial law affect liability during marriage and divorce. In a divorce, … [Read more...] about Tax Liability of Spouses for Marital and Separate Property
When spouses divorce in New York, their marital property is subject to “equitable distribution.” Equitable is not the same as an equal. It is a concept rooted in fairness. What constitutes a fair division of assets varies depending on the type of property and other circumstances. Notably, equitable … [Read more...] about What Is Equitable Distribution Under New York Divorce Law?