New York is an "equitable distribution state," which means that upon dissolution of a marriage, absent an agreement between the parties, the court will distribute the martial property equitably (not necessarily equally). Marital property is defined as all property acquired after the date of marriage, regardless of which spouse holds title, except if the property is derived from inheritances, gifts from third parties, or personal injury recoveries, all of which are classified as separate property. A Nassau County divorce attorney at Jane K. Cristal, P.C. can provide a case-specific analysis of your property and financial circumstances prior to a divorce. If necessary, we can also substantiate and protect your claims to an equitable division in court.
Start with a confidential consultation. Contact our firm at (800) 817-5029.
The classification, valuation and distribution issues of property all become more complicated as spousal involvement with the asset alters its worth. For example, if a spouse's separate property increases in value during the marriage due to the contributions of the other spouse, the increase in value is considered marital property subject to equitable distribution. Other legal complexities of valuation can be assessed with the assistance of an experienced and qualified property distribution lawyer in Nassau County. Turn to our firm for guidance!
Jane K. Cristal, P.C. is ready to discuss your case. Contact our firm today at (800) 817-5029.