Long Island Property Distribution Lawyers
What is Equitable Distribution?
During a divorce, one of the most important issues to address is how your marital property will be divided. This process, referred to as equitable distribution, can quickly turn into a contested divorce. It is not uncommon for divorcing spouses to have conflicting opinions over how their property should be divided. Things can turn sour when one or both parties does not get their way, so it is important to consult with an experienced attorney.
What is Marital Property?
Under New York state law, all assets, money, and property acquired during the marriage are considered equitable distribution, regardless of which party's name is on the title(s). Equitable distribution, also called division of property, reflects the idea that because a marriage is a joint venture, each party in the marriage has a right to claim the property and assets of the marriage in an equitable or fair manner. Before you file for divorce, it is best to speak with an experienced attorney who can protect your interests by making sure your rights to marital property are considered.
Examples of marital property may include but are not limited to the following:
- Real estate
- Timeshares
- Pensions and profit-sharing plans
- Retirement accounts
- Checking and savings accounts
- Stock options
- Investments (i.e. mutual funds)
- Business ventures and professional practices
- Automobiles
- Antiques/collectibles
- Life insurance
- Debt(s)
New York Is Now an Equitable Distribution State
Understanding your rights under equitable distribution can be confusing, so it is best to work with a knowledgeable and well-practiced lawyer who can help you assert your rights and make sure your property and assets are protected. When a Long Island couple divorces and the court is involved, the court must divide their property in a fair and equitable manner.
However, this does not necessarily mean the couple's assets will be divided evenly. When a judge is dividing a couple's marital assets, he or she will consider the following factors before rendering a decision:
- The age and health of each spouse
- The length of the marriage
- Each spouse's income and assets
- Any health insurance or inheritance rights a spouse loses because of the divorce
- Whether or not the court awards spousal maintenance
- Either spouse's contributions as a stay-at-home parent or homemaker
- Either spouse's contributions to the assets
- Each spouse's earning capacity
- The tax consequences of the division of the assets
- Whether either spouse has wasted the marital assets
- Any other factor the court deems relevant
Why Choose Samuelson Hause PLLC?
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Accredited By the Better Business Bureau (BBB®) for High-Quality, Ethical Legal Practices
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Included In Best Lawyers In America
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Top-Tier Matrimonial Law Firm with US News & World Report
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Three Attorneys Listed in New York Super Lawyers ®
Testimonials
Our Determination & Dedication Is Recognized by Our Clients
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“I knew I had to switch lawyers after a long drawn out process. When I walked into Wendy’s office with a deadline of about a week she took the case immediately and she and Anna”Keri S.
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Very tough divorce case but Wendy and Anna assisted me in every way possible and are wonderful people to talk to!Todd
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“Life happens sometimes not in a good way. By pure chance and God's good grace, I came upon Samuelson Hause PLLC while searching for divorce lawyers in NY.”F.A.
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“How do you choose a matrimonial attorney? Referrals. I was referred to Wendy Samuelson of Samuelson Hause PLLC by an attorney friend of mine who is a partner in a large multi-specialty Manhattan law firm. Why do you stay with a professional? Demonstrated r”JK, Esq. - Former General Counsel for the US division of an international bank
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“Most importantly, she really cared about me as a human.”Fan Y.
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“A year before I decided to get divorced, I met with Wendy. I wasn't quite ready to pull the plug on my marriage, even though when I look back I realize it was over for years. I remember being impressed with Wendy's calm authority and the feeling that she w”M.D.
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“I am very pleased with the handling of my matrimonial case.”Jeffrey H.
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Gratitude- This is what I'm filled with as a result of Wendy and Anna handling my divorce. Expertise combined with warmth and humanity made what was the most difficult time in my life conclude most satisfactorily! No small feat in a divorce proceeding!Jorden Weiss
Marital Property & Separate Property
Unlike marital property, separate property is not eligible for distribution under New York equitable distribution laws. Separate property refers to any property acquired by either spouse before the marriage commenced or after the commencement of a divorce action. Inheritances and gifts from third parties are also considered separate property, as well as personal injury awards.
The appreciation of some separate property assets may be considered marital property, particularly active assets like a business. In addition, a separate property asset that is commingled with marital assets may be considered marital property. After an initial consultation with an attorney from our firm, we can help determine which assets are considered marital property and which are separate.
How an Experienced Divorce Attorney Can Help
At Samuelson Hause PLLC, our Long Island equitable distribution attorney have more than 100 years of collective experience and have represented thousands of clients throughout Nassau County, Suffolk County, and Long Island. Our Long Island Equitable Distribution Lawyers will advocate for your best interests, protect your property rights, and help you resolve any obstacles or discrepancies that may arise. Contact us today by calling our office. We look forward to hearing from you soon.
Get in touch online by completing a case evaluation form or call us at (516) 584-4685 to book a consultation.
