Manhattan Attorney for Division of Marital Assets
Division of marital assets is one of the main issues in most divorces. Generally, marital property is property you acquired during the marriage, with a few exceptions. Gifts given to one spouse only, inheritance given to one spouse and things bought with gifted or inherited money are usually not considered marital property. When calculating asset distribution involving these, it is best to work with an experienced divorce lawyer.
At the Law Offices of Andrew J. Spinnell, LLC, we help our clients with asset distribution during a divorce. We understand that divorces can be challenging times, and that the decisions made during a divorce can affect your future. Serving people throughout the New York City metropolitan area, we work diligently to make sure that your interests are protected and that you achieve the best possible results.
Determining What Marital Assets Are and Are Not
Determining what is marital and what is not can become very complex, especially when property is involved. Your attorney will help you calculate the value of property purchased before the marriage and estimate how much that property accrued value during the marriage.
Other types of property should be considered as well. Marital property can include your marital home, retirement plans, businesses, securities, vehicles, life insurance, valuable collections and household items as well as the money in your bank account.
Equitable Means Fair, Not Necessarily Equal
New York State allows for equitable distribution of marital property in a divorce. Equitable does not necessarily mean 50/50, although it is often an even division. Equitable distribution is a fair division of the assets and debts you acquired during the marriage.
To determine equitable distribution of martial assets, courts consider a series of statutory factors, including the ones below:
- Age
- Health
- Occupation
- Length of the marriage
- Needs of dependent children
Arrange an Appointment With a Lawyer
To take action in a legal matter — like divorce asset protection — arrange an appointment with an attorney. You may call us at 212-684-0317 or complete our online contact form. Se Habla Español.
