Long Island Family Law and Mediation Blog
For some time now on this blog, I have been publishing these bullet point guides, which are a blend of my blogs over the years, as a solution for people who need to learn more about divorce. The end of a marriage is a complicated thing, and the complexities of your case may begin to feel overwhelming when you’re approaching litigation for the first time. These bullet guides aim to provide an easy-to-access way to answer some of your most pressing questions.
In this bullet point guide, we will be looking specifically at marital and separate property in divorce equitable distribution, as well as the role that taxes might play in separating assets. We will also touch on the decisions to be made about business ownership during a New York divorce.
Defining Marital and Separate Property
As mentioned in previous blog posts and guides, the process that New York courts use to distribute assets between two parties in a divorce is called equitable distribution. This process involves sharing “marital assets” based on what the court considers to be just and fair.
- Marital assets are broadly defined by the New York law for Domestic Relations as property obtained after the date of the marriage and before a separation agreement is executed, or the filing of a divorce case.
- Separate property is not included in equitable distribution considerations under the Domestic Relations Law. Separate property is anything that was kept separate and either acquired before the date of the marriage, or the property that was received by one party as a gift or inheritance. Sometimes, personal, or separate property may also include personal injury awards.
- In New York divorce cases, marital property can include a range of things, including retirement and pension benefits acquired within the marriage, automobiles, real-estate, furniture, stocks, bank accounts, and even business components. All marital property must be equitably distributed according to the laws of New York, unless there is an agreement otherwise.
- When determining how to divide marital property between two spouses, the courts will often consider a variety of things, including the current income of each spouse, their age, their earning potential, their health, and the contributions that each person made to the marriage, both financial and otherwise.
If you’ve been following my blog over the last year or two, you’ll have noticed that I’ve been systematically sorting through various articles I’ve done over the years to bring you an easy-to-follow list of guides on things like divorce mediation, litigation, and beyond.
Lately, I’ve been frequently adding new updates to my blog as part of a bullet point series on divorce litigation summarizing the more in-depth articles I posted over the years. These bullet point guides aim to offer a quick overview of some of the most common questions and concerns that emerge in litigation.
Recently, I’ve been updating my blog with a series of bullet-point guides intended to help people who want to learn more about divorce litigation. This area of law can be a very complicated one for many people, and it’s often difficult to find the answers to all the questions you might have.
time. These cover everything from child custody lawyer tips, mediation insights, to information about divorce litigation. Today, we’re carrying on with the divorce litigation bullet points, providing an insight into issues like serving summons, and deciding whether divorce is the right choice.
Divorce attorneys use specific techniques aligned to a certain structure when presenting a case for New York divorce litigation. These presentations often start with an opening statement, where the attorneys on both sides present the case to the court, allowing the judge (there are not juries in matrimonial and family law in New York) to get an insight into what the argument is about.
Divorce is a complex process at the best of times. Couples need to come to terms on complicated matters, like spousal support (maintenance), child support, and equitable distribution. In the case of divorce litigation, when the case appears in front of a court for judicial guidance, the toughest part of the divorce can be the trial itself.
A while ago, I started a blog series to introduce residents of New York to some of the realities of divorce litigation in the current time. After a break where we turned our attention to some of the family law issues during the coronavirus pandemic, we’re continuing these bullet point guides, summarizing my articles throughout the years, to continue offering an easy insight into the world of divorce and family law.