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      • Equitable Distribution
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      • Appeals / Enforcement / Modification
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Equitable Distribution in New York

There are many reasons that parties experience stress and reluctance about divorce - financial security is one of the more worrisome issues.

  • Areas of Practice
  • Matrimonial Law
  • Equitable Distribution
  • What Is Equitable Distribution?
  • Assets subject to Equitable Distribution
  • Distribution of Property
  • Enforcement

At Winter & Grossman, PLLC, we recognize that a client's ability to start over after their divorce depends in part upon obtaining a fair division of marital property.

New York divorce law incorporates the principle of equitable distribution.

  • What is equitable distribution?
  • How does equitable distribution work?
  • How can you navigate equitable distribution?

While equitable distribution may seem complicated, we can help you through this complex maze to protect your rights.

We will review your finances with you, discuss a plan to protect your rights and to work towards your goals, help you anticipate the issues, advise you as to a fair resolution, and work through the trial process if needed.

Each case is different and each client is different – we work closely with each client to understand each case.

We are not a “volume” or “cookie-cutter” practice. We devote time to each file and to learning about and getting to know our clients.

What Is Equitable Distribution?

Equitable does not mean equal.

“Equitable distribution” is more akin to “fair” than “equal.” The property of parties to a divorce will fall into two basic categories:

  1. “Separate property” and
  2. “Marital property.” (Although some property can be in both categories).
Conceptual photo of equitable distribution

Marital property will be the subject of equitable distribution. Each party generally retains separate property. Separate property generally includes the following:

  • Property acquired by either party before the marriage
  • Damages for personal injury awarded to either party (but only pain and suffering damages and punitive damages)
  • Property acquired individually by either spouse through gift (except gifts from the other spouse) or inheritance
  • Property designated as separate property in a valid pre-nuptial agreement
  • Appreciation of separate property except under certain circumstances
  • Property acquired in exchange for other separate property

Assets Subject to Equitable Distribution

Generally, marital property is property that is not included in the categories above that is acquired by either party during the marriage.

These rules apply despite one party or the other being designated as the owner or titleholder of the property.

The types of marital property that are subject to equitable distribution include, but are not limited to, the following:

  • Real estate
  • Cash, bank accounts
  • Pensions & retirement accounts
  • Business interests
  • Professional practices
  • Tax refunds
  • Insurance policies
  • Vehicles (cars, boats, aircraft, etc.)
  • Household goods and furnishings
  • Timeshares
  • Intellectual property
  • Right to debt repayment
  • Jewelry
  • Points/frequent flier miles on credit cards

This list is far from exhaustive - marital property may include property or benefits that might not be considered by the parties.

After consultation with each client and their financial professionals, we also routinely work with forensic accountants and appraisers/valuation experts to assist in determining the value of assets subject to equitable distribution.

Because our attorneys have decades of experience and focus extensively on matrimonial matters, we have the expertise and knowledge to ferret out hidden assets, expose undisclosed income streams, and craft creative resolutions to accomplish each client’s goal, such as retaining a particular asset (e.g. a residence or collectible) or income stream (e.g. a pension).

Factors Relevant to an Equitable Distribution of Property

Parties can reach an agreement regarding the distribution of property or enter into a prenuptial agreement that specifies the distribution of certain property.

Absent such a prenuptial agreement, the judge must make this determination and will consider, among other things, the following factors:

  • Age and health of the parties
  • Marriage duration
  • Tax impact
  • Parties' likely future financial condition
  • Transfers or encumbrance of marital property without fair consideration in contemplation of divorce
  • Waste of marital assets
  • Liquidity of the parties’ assets
  • Property and income of the parties at the time of marriage and at the time of the divorce filing
  • Health insurance, inheritance, and pension rights that will be lost because of divorce
  • Need for residential parent to remain in the family home and use household items
  • Award of spousal maintenance
  • Other factors that are just and proper

Enforcement of Equitable Distribution

Are you already divorced and cannot obtain the assets that were distributed to you? Does your ex-spouse essentially thumb his/her nose at you? You have rights to enforce the award.

You should not delay your efforts to do so – if your ex-spouse transfers the assets, encumbers them, or dies, you may lose the ability to enforce some or all of your rights.

Were assets distributed to your spouse that you cannot transfer or pay? Do you need help working through this process? We can help.

Having worked with clients on various aspects of enforcement of such awards, we are experienced in the process, can explain it to you, help you address the issues and work your way to a resolution so that you can have some finality.

Winter & Grossman represents a wide range of clients with varied financial circumstances.

Whether you believe that your assets are relatively straight forward or diverse and complex, our attorneys have the knowledge and experience to assist you and to ask the questions you may not have thought to ask. We invite you to contact us to discuss your matter for a consultation.

Do you have any additional questions? Contact us at 516-745-1700 or email us.

Explore our other Areas of Matrimonial Law:

  • Child Custody / Access
  • Child Support / Spousal Support
  • Equitable Distribution
  • Prenuptial / postnuptial agreements
  • Appeals / Enforcement / Modification
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  • Tel: [516] 745-1700
  • Fax: [516] 222-4515
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The information contained herein is provided for informational purposes only and does not constitute legal advice or the creation of an attorney-client relationship. While all efforts have been made to ensure the accuracy of the contents, the Firm does not guarantee such accuracy and cannot be held responsible for any errors in or reliance upon this information. This is attorney advertising. Prior results do not guarantee a similar outcome. ©2021 Winter & Grossman, PLLC. All Rights Reserved.