Rochester Equitable Distribution Lawyers
Experienced Legal Representation for Divorce in New York
New York is an equitable distribution state, which means that marital property is divided in a fair and just manner in a divorce. Keep in mind that “fair and just” does not always mean 50-50. Property division is based on what each spouse contributed to the marriage as well as what each spouse will need to move forward. Courts will consider many factors when determining an equitable distribution of marital assets.
If you are contemplating a divorce or have already filed, you should consult with an attorney experienced in handling this issue. Dividing and distributing marital property can be complex. At The Glennon Law Firm, P.C., we have helped countless individuals reach favorable settlements through both negotiation and litigation. Our Rochester equitable distribution lawyers are seasoned litigators who can provide the counsel and advocacy you need to resolve this difficult issue.
Determining Equitable Distribution
Marital property consists of any assets or property acquired by the couple during the marriage. This can include wages, investments, businesses, professional practices, real estate, pensions, retirement accounts, and more. Separate property consists of assets that a person acquired before the marriage as well as gifts, inheritances, or awards they received personally during the marriage. Proving that separate property remained separate during the marriage can be challenged; but we have experience doing it. Only marital property is divided and distributed between the parties in a New York divorce.
You and your spouse can create the terms of your property settlement on your own and submit it to the court for approval. If you and your spouse cannot agree on how to divide property, the court will decide for you. Courts consider various factors when determining a fair resolution to this issue.
These factors can include:
- How long the marriage lasted
- Both parties’ contributions to the marriage, including time spent caring for the family and/or contributing to the other’s education or career training
- Each party’s income and earning potential
- Whether spousal support will be awarded
- The ages and health of each party
- Which party will have primary custody of children and how this will affect the matter of the family home
- Each party’s financial condition and ability to remain or become self-supporting
Other factors may also come into play if they affected the financial condition of the parties, such as domestic violence, substance abuse, mishandling financial resources, hiding assets, and criminal charges.
Retaining a fair share of the marital property in your divorce is your legal right. Take advantage of the knowledge and skills available at The Glennon Law Firm, P.C. to ensure that your divorce is resolved appropriately.