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 experience 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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“Wendy, Thank you for all of your help and support. I will recommend you to clients who are looking for a great lawyer!”Anonymous, Psychotherapist
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“Wendy Samuelson and her firm are the best around. She really listened to me and respected my wishes on how I wanted my divorce handled.”G. Brill, LCSW
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“Clients I refer to Wendy always come back and tell me how professional she is. She listens to them, provides a caring voice, but is a strong attorney who gets results.”Warren M. Bergstein, CPA
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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 feelin”Anonymous
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“Listen well and give excellent advice.”Mark K.
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“Having been married for over 43 years, I was a "deer in the headlights" when it came to facing the facts that my marriage was ending. I was recommended to Wendy Samuelson by a friend of a friend and from our first meeting,”Anonymous
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“My case was a logistical nightmare, as it was mixed within 2 different states and multiple attorneys were involved. They had to work in conjunction with my attorney in my home state (not New York), all while being extremely detail-oriented”N.G.
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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.
