Suffolk County Family Lawyer with Expertise in Equitable Distribution
Protecting Your Financial Interests During Divorce Property Division
The New York law determining the division of property and debts after a marriage has been terminated refers to "equitable distribution". Marital property is any property or assets accumulated during the course of the marriage by both parties, with certain exceptions including inherited property and proceeds from a personal injury proceeding. Equitable does not necessarily mean equal, but rather whatever the court decides is fair. The court considers 13 factors when determining the fair division property and debts.
If you are facing a divorce involving significant assets, real estate, retirement accounts, businesses, or complex financial issues, an experienced Suffolk County equitable distribution attorney can provide the guidance you need.
Dividing Marital Property
Defining which spouse has to pay which debts and gets to receive certain assets can be confusing and frustrating. If the couple is not able to resolve these issues with the assistance of counsel, then they will have to take their case before a judge to decide.
Some of the factors the court will consider in deciding equitable distribution include the following:
- How long did the marriage last?
- What are the ages and health conditions of each party?
- Is there a need for the custodial parent to occupy or own the family home?
- What is the probable future financial condition of both parties?
- Has spousal support has been ordered?
- Does either spouse lose out on inheritance or pension rights by filing for divorce?
- Are there tax consequences as a result of the dissolution of marriage?
- What was the income and property of each party when entering the marriage and at the divorce?
Separate property is not included in marital property divided under equitable distribution. The separate property would be any property acquired before the marriage or through a bequest from a party other than the spouse during the marriage. This can include gifts, inheritance, and other items. For further information about what is involved in equitable distribution under New York law, it is advised that you speak with an attorney about the specifics of your situation.
Experienced Divorce Property Division Representation in Suffolk County
Huntington Divorce Attorney Lynn Poster-Zimmerman has practiced family law for more than 40 years and provides personalized representation for clients facing divorce and complex financial issues.
Through her small and attentive law office, she provides clients throughout Suffolk and Nassau Counties with knowledgeable legal guidance, attention to detail, and dedicated advocacy in divorce matters involving equitable distribution.
Contact a Suffolk County Divorce Lawyer Today
If you need help dividing marital property, protecting your assets, or understanding your rights during divorce, Lynn Poster-Zimmerman, P.C., can help. Lynn Poster-Zimmerman Huntington Divorce Attorney Huntington Divorce Lawyer Suffolk Family Lawyer Suffolk Divorce Attorney Suffolk County Family Attorney Suffolk Divorce Suffolk County Divorce Attorney Suffolk Family Attorney Suffolk County Divorce Lawyer Suffolk County Family Lawyer
Contact the office today to discuss your equitable distribution matter and learn how experienced divorce representation can help protect your financial future.