EQUITABLE DISTRIBUTION
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New York Equitable Distribution Lawyer
Equitable Distribution
Vs.
Community Property
New York is an equitable distribution state. This means, during a divorce, property division is handled in a way deemed “most fair” to both sides. This is not the same as a community property state, which divides marital property split 50/50 between spouses. The court takes into account factors regarding the marriage and contributions of each party. The courts have considerable latitude in deciding who gets which assets.
At The Law office of David W. Teeter, we have decades of experience handling the complex family law issues involved in property division. We can carefully review the facts of your case, create a comprehensive strategy for getting you the fairest share of assets, and explain the process clearly as you go through this difficult time. We believe in working with the other party's attorney in order to get you the best results possible, but we are also very aggressive when they are not willing to be fair."
For more information, call our office at 516-229-2235 or
visit our contact page.
Is New York a Community Property State?
No, New York is an equitable distribution state that divides property based on what is fair and reasonable. Most states are transitioning to equitable distribution as community property is only practiced in a handful of states. Dividing assets via community property is the result of the Uniform Marital Property Act of 1983. This made the division of property during divorce easier, as even homes were considered 50/50. However, this method is quickly becoming outdated, as only 9 of the 50 states still utilize it.
How Property is Divided in a New York Divorce
To ensure your assets are divided fairly, it is necessary to have a proper valuation. It will also be necessary to determine which assets, if any, were owned by one party prior to the marriage. These are both considerable factors. Assets can include vehicles, homes, jewelry, antiques, art, businesses, retirement accounts and investment accounts.
During the equitable distribution phase of your divorce, the court will also look at:
Child Custody
> Adoption
> Child Relocation
> Custody Problems
> Grandparents' Rights
> Mothers Rights
> Joint Custody
> Legal vs Physical Custody
> Parental Alienation
> Legal Separation
> Sole Custody
> The Hague Convention
> Visitation
> Same Sex Divorce
> What is a Law Guardian
Equitable Distribution vs. Common Law Distribution
Prior to becoming an equitable distribution state, New York was a common law property state. This means that a couple’s property was distributed according to the manner in which title was held. For example, if only your name appeared on the title of your house, you would get to keep it after a divorce; however, this has since changed. Now the court must divide a couple’s assets as fairly and equitably as possible. Still, this does not mean that there will be a 50/50 split.
What Am I Entitled to in a Divorce in NY?
Under New York’s equitable distribution laws, only your “marital property” will be divided during a divorce. This means that you and your spouse will get to keep any separate property that was brought into the marriage.
In the state of New York, “separate property” can include any assets that were:
- Acquired by one spouse prior to the marriage
- Received by one spouse as an inheritance or gift
- Acquired as compensation for a personal injury
- Characterized as such in a prenuptial agreement
Marital property includes any assets that were acquired during the marriage—regardless of who holds the title. With few exceptions, this may include both spouses’ income, purchases made with that income, and retirement benefits.
Let David W. Teeter Guide You Through the Process
Having helped hundreds of clients with a successful resolution to their divorce, the Law Office of David W. Teeter is well-poised to help you pursue the outcome you deserve. Our level of expertise benefits our clients greatly.
See What Our Clients Are Saying...
Jennifer B, Garden City, NY
Mr. Teeter has been my attorney for the past 3 years and I could not have managed without him. He fought and ultimately won my child custody case for which I will be forever grateful. Mr. Teeter always responds promptly to all of my questions/requests...no matter how big or small. I was extremely lucky to find wise counsel as well as someone to keep me grounded during some of the hardest times of my life. Thank you so much!
- Jennifer Baik
Real Client, Garden City, NY
I went through a difficult and challenging divorce. David was very helpful from the first meeting and walked me through this stressful time. David managed to settle my case in a way that I never believed would be possible. I share joint custody with my son's mother and I couldn't be happier and more grateful for this result!
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Call our office at (516) 229-2235 or fill out the form for a call back. Our lawyers are ready to discuss your case in full detail and confidence