Marital Property and Asset Division in New York
New York follows the principle of equitable distribution when dividing property and debts in a divorce. White Law Group of New York helps clients identify marital and separate property and work toward a fair division.
Matters Handled
- Marital property identification
- Separate property claims
- Asset valuation
- Debt allocation
- Real property division
- Retirement accounts and pensions
- Business interests
- Negotiation and settlement
Common Client Concerns
Property division can be complex, especially when significant assets, retirement accounts, or business interests are involved. Clients often want to understand what is considered marital property and how debts are divided.
The New York Process
In New York, marital property — property acquired during the marriage — is subject to equitable distribution. Separate property — property owned before the marriage or received as a gift or inheritance — is generally not divided. The court identifies and values all property, determines what is marital and what is separate, and divides marital property equitably based on statutory factors.
How Legal Representation May Help
- Identifying marital and separate property
- Valuing complex assets
- Addressing retirement accounts and pensions
- Negotiating property settlement terms
- Representing you in court if needed
Information to Prepare for a Consultation
- List of major assets and when they were acquired
- List of debts and when they were incurred
- Information about retirement accounts
- Any business interests
- Any prenuptial or postnuptial agreements
Frequently Asked Questions
What is the difference between marital and separate property?
Marital property is generally property acquired during the marriage. Separate property is generally property owned before the marriage or received as a gift or inheritance.
Is equitable distribution the same as equal?
No. Equitable means fair, which may not be equal. The court considers various statutory factors when dividing marital property.
How are retirement accounts divided?
Retirement accounts acquired during the marriage are generally marital property and may be divided. This often requires a Qualified Domestic Relations Order (QDRO).
Are debts also divided in a divorce?
Yes. Marital debts are also subject to equitable distribution.
The information on this page is for general informational purposes only and is not legal advice. It does not create an attorney-client relationship. Every legal matter is different. Prior results do not guarantee a similar outcome.
Speak With a New York Attorney About Your Situation
Contact White Law Group of New York to discuss your family-law or criminal-defense matter.