Equitable Distribution in Divorce
Attorneys For Divorcing Men
Equitable distribution of marital property and debts is a critical issue in any divorce, especially in those involving complex financial holdings, businesses, or assets. If you are involved in a divorce, you will need to resolve the matter of equitable distribution or division of marital property before your divorce can be finalized. If you are located in Staten Island, Brooklyn, or in the counties of Monmouth or Middlesex, New Jersey, you can find competent legal representation with us.
What Is "Equitable Distribution"?
Equitable distribution refers to the division of marital property and debts upon the dissolution of marriage. Under New York and New Jersey laws, marital property is divided on the basis of a fair distribution between the spouses. Marital property consists of all property acquired by either or both spouses during the marriage and before any separation or divorce agreement, regardless of how the property is held. Real estate, bank accounts, stocks and bonds, IRAs, vehicles, boats, household furniture, and all other property acquired with marital funds are considered marital property.
As of September 1, 2009, new rules apply in any New York divorce action. These rules prevent either party from selling or transferring any real or personal property, withdrawing or transferring any tax deferred funds, incurring unreasonable debts, removing one another from any medical or dental insurance policies, or changing the beneficiaries of any life insurance policy once a divorce matter has been filed.
New York and New Jersey Divorce Lawyers for Division of Marital Property
In any equitable distribution matter, the court will consider a number of factors before determining what a fair division of the marital property is. We can review your financial situation and advise you on how your case should be presented to the court.
Contact us today for legal representation in the division of marital property pursuant to a divorce.
Have Questions?
We Have Answers!
-
My Child Is 6 Years Old, and My Former Partner Is Not Paying Child Support; Is It Too Late for Me to Seek Support at This Time?No, it is not too late. Your child is entitled to receive child support until age 21, you can file for child support for the child at any time before the child reaches the age of 21. With that said, all cases fact sensitive and you may want to consult with Attorney Dow before filing an application.
-
Do I Need to Live in New York to File for Divorce in New York?
Before you can obtain a divorce in New York State, you must meet one of the following residency requirements:
- The parties resided in New York as husband and wife, and either party lived in New York for one year or more prior to filing.
- The cause of action occurred in New York, and either party lived in New York for one year or more prior to filing.
- The cause of action occurred in New York, and both parties live in New York at the time of filing.
- Either party has lived in New York for two years or more prior to filing.
The court cannot maintain jurisdiction over a divorce action unless one of these five residency requirements exists. Any challenge to residency must be raised during the divorce proceedings, and will not be entertained post judgment.
-
Can My Spouse Transfer Property or Remove My Name From Insurance Policies During Our Divorce Proceedings?In September 2009, the New York State legislature enacted new Automatic Restraining Orders which prevent parties from incurring unreasonable debt, spending unreasonable amounts of money, with the exception of the payment of regular bills and reasonable legal fees, from transferring property, removing or terminating insurances, etc. during the divorce. These orders are automatically binding upon the plaintiff, and become binding upon the defendant, once he or she is served with the documents initiating the divorce.
-
Pay Your Bill Online
-
Client Portal
-
Helpful Resources
-
Schedule an Appointment