New York Marital Property

New York is an equitable distribution state, which means that all marital property and debts will be dispersed equitably to divorcees.  Prior to equitable distribution laws, New York was a common law state that awarded marital property to the spouse who had their name on the property’s title.  Common law did not take into account the contributions each spouse made during the marriage.   

Even though marital property is to be divided equitably in the state of New York, it does not mean that it will be divided equally.  Equitable distribution does not guarantee spouses half of the marital assets.  With equitable distribution, several factors are evaluated to determine each spouse’s contribution to the marriage before marital property is divided.  Before property can be divided, the spouses and courts must decipher what is considered marital property and what is separate property.   

Marital Property
Marital property is all property that is contributed by either or both spouses during the marriage.  This does not include property that is acquired by either spouse after the dissolution of the marriage or the beginning of the marriage.  Equitable distribution laws allow for the court to consider income earned from professional licenses and degrees obtained during the marriage as marital property.  Marital property usually includes homes, cars, debts, money, and personal possessions.  

Separate Property
Separate property is any property that is acquired by each spouse prior to marriage or after the dissolution of marriage.  Separate property includes things such as inherited property and gifts given by someone outside the marriage.  These items are not subject to division. 

Property Division Factors
In order to ensure marital assets are divided fairly, the court considers issues such as:

• The length of the marriage.
• Income of both parties at the beginning of the marriage.
• Income of both parties at the time of the divorce petition.
• Property owned by each party at the beginning of the marriage.
• Property owned by each party at the time of the divorce petition.
• Each spouses age.
• Each spouses health.
• The standard of living of each party during the marriage.
• The custodial parent’s need to live in current marital residence.
• Each spouses income earning capacity.
• The debts and liabilities of each spouse.

New York Divorce Attorneys
If you are going through a divorce, it is to your benefit to speak with a skilled matrimonial law attorney who understands New York equitable distribution law.  At the Law Offices of Scupp & Berman, LLP, our attorneys have over 20 years experience with matrimonial law cases.  When you work with our law offices, you will receive the knowledge, attention, compassion, and professional legal representation you need to be comfortable throughout your case. 

Our initial consultations are free of charge so that you can seek the guidance you need without having to spend money on unjustifiable fees. 

Contact The Law Offices of Scupp & Berman, LLP
(516) 683-1990

The Law Offices of Scupp & Berman, LLP proudly serves clients throughout New York in Long Island, Garden City, Suffolk County, Nassau County, and Mineola.