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?
Protecting Separate Property from Becoming Marital Property
When couples divorce, their marital property is subject to equitable distribution. Generally, marital property is property that is acquired after the parties’ wedding date and up to the date upon which a divorce action is filed. Separate property is property that is either acquired before the … [Read more...] about Protecting Separate Property from Becoming Marital Property
Who Gets the Marital Home After Divorce?
When parents get divorced, a common concern is the disposition of the marital home. The custodial parent often wants to stay in the home with the children in order to avoid disrupting their lives. New York law recognizes that this presents a unique situation and affords special treatment to marital … [Read more...] about Who Gets the Marital Home After Divorce?
How to Divide Passive vs. Active Assets in Divorce
All property is not treated equally when dividing up assets in divorce. Some of the most significant differences occur between couples having both passive and active assets. Here are a few tips couples should know about how assets would be divided between them in the event they decide to end the … [Read more...] about How to Divide Passive vs. Active Assets in Divorce