Marital Assets: How Are They Divided?

If you’ve been thinking about getting a divorce, there are a variety of factors that you should consider, the most important of which is how your marital assets are going to be divided. Because this process can be complicated, it’s highly recommended that you obtain the assistance of an experienced family lawyer in Queens NY. Here at the Law Firm and Mediation Practice of Alla Roytberg, we can help you receive the assets you deserve from the divorce.

Understanding Equitable Distribution

New York divorce laws require property and assets to be divided equitably in the event of a divorce. What this means is that the court will try to divide the property “fairly” between each spouse. Since equitable division isn’t as clear-cut as the 50/50 split that some states require, you will want the assistance of a family lawyer in Queens NY to make sure that you’re not receiving an unfair deal. There are a range of factors that the judge will consider when determining which spouse gets what.

If you want to have some say in the distribution of your marital assets, you should consider going through NYC divorce mediation. As long as you can engage in conversation, NYC divorce mediation is the fastest and most cost effective way to come to an agreement on the division of assets between you and your spouse. This process is handled by a third-party professional who will remain unbiased.  If you don’t want to commute to the mediator’s office or don’t want to sit in the same room with your spouse, you can use NYC mediation and international mediation online, through telephone conferences, or through video conferences.

Identifying Separate Property

Separate property that’s owned by either you or your spouse isn’t divided upon divorce. Instead, both spouses keep their own property. Examples of separate property include, but are not limited to, property that’s acquired before the marriage by either spouse or property that’s received as an inheritance.

If you’re getting ready to file for a divorce, call the Law Firm and Mediation Practice of Alla Roytberg today so that we can help guide you through the divorce process.