Property Division & Equitable Distribution in NY
Explained by a Westchester County Divorce Lawyer
Property division is a key issue that must be resolved during a New York
separation agreement. This can be complex and disputes may easily arise regarding what is marital
property and what is separate property. A Westchester County divorce lawyer
can help you resolve these issues in such a way that your interests and
future financial stability are protected.
Understanding Equitable Distribution
In New York, property division is carried out through equitable distribution.
It is important to note at this point that “equitable distribution”
does not mean “equal distribution.” In a divorce, the court
will determine what is considered to be marital property and what is considered
separate property. Marital property will be subject to equitable distribution
while separate property will remain with the spouse who it belongs to.
In dividing marital property, the court will look at a number of factors.
These may vary from jurisdiction to jurisdiction, as well as the particular
circumstances of the case. Some factors in determining equitable distribution include:
- Each spouse's property at the time of marriage
- Each spouse's income at the time of marriage
- The need of the custodial parent to occupy/own the couple's home
Any award of
- Tax consequences
How a Westchester County Divorce Attorney Can Help
Determining separate and marital property is not always clear cut, and
having an attorney on your side to ensure that your property and assets
are protected is essential to your financial stability. Your attorney
should have specific knowledge regarding separate and marital property
and competence in matters involving finances, businesses and more.
Attorney Andrea Friedman is an experienced divorce lawyer serving all of
Long Island, including Westchester County. She understands how important
property division is to your future and therefore strives to provide personalized
attention and aggressive representation to each and every one of her clients.
Trying to determine property division in Westchester County?
Contact our firm today.