![]() Equitable Distribution
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Most states employ "equitable distribution" in dividing marital property as a result of a divorce. New York is an equitable distribution state. Instead of a fifty-fifty split, in which each spouse receives exactly one-half of the marital or separate property, equitable distribution looks at the financial situation that each spouse will be in after the termination of the marriage. While equitable distribution is more flexible, it is harder to predict the actual outcome, since the various factors are subjectively weighed. Factors considered in equitable distribution include:
All property acquired prior to marriage or by way of gift or inheritance is separate property. In New York, the Court can determine the percentage each spouse is due under the equitable distribution laws. For example, if one spouse owned property prior to marriage, but the other spouse contributed to the increase in value either directly or indirectly as a spouse or homemaker, the increase in value of the separate property may be equitably distributed as a marital asset. If an owner of separate property wants to remain the separate owner of that property for divorce purposes, then he/she must keep that separate property apart from the marital property. When separate property is not kept apart from marital property, then separate property can become commingled with marital property. The courts may treat the property as belonging to the marriage. |
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LI Divorce Help are skilled and fearless litigators who are always ready to protect the interest of their clients.
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