Marital Property Divsion

Marital property division is one of the major aspects of any divorce, be it contested or uncontested. There are a number of factors which influence the distribution of such assets, especially when the issue is contested and the matter must be decided by the courts.

In New York, martial property is generally divided in an equitable fashion. Equitable means fairly rather than equal, and the courts attempt to divide the assets in a way that adequately reflects the contributions of both parties to the marriage and to the acquisition of said assets. Of course such contributions must be proven in court, which is where skilled lawyers are a necessity. Our New York lawyers will work hard to ensure that you get the most favourable equitable division possible, while charing a relatively low fee.

Marital property division is generally influenced by the duration of a marriage. For example if certain assets are brought into the marriage by one party, which then accumulate in value throughout the duration of the marriage, it can be asserted by the other party that they were influential in promoting the increase in value of these monies or properties. The increase in value of these assets may then be divided between both spouses, based on the contribution of each to this growth.

Clearly the assets of a couple who have been married for a number of decades will be more significantly influenced by the contributions of both parties than the assets of a couple who are married for a year. It is in this way that the duration of the marriage helps to determine the marital property division in any given divorce suit.

The mariial home is usually divided equally between both parties, regardless of other decisions regarding marital property division. The courts will generally order that the house be sold and the profits divided equally, unless there are children below the age of twenty-one involved in the divorce. In that case the custodial parent is generally afforded use of the house until a sale is processed, but this can vary from case to case and depends upon a number of factors.