Equitable Distribution in NYC Divorce
Equitable Distribution of Marital Property
In the State of New York, the matter of property and debt division is determined based upon the concept of "equitable division." There are many ways that property could be divided, including one marriage partner getting a one-time settlement, a settlement over time at a specific monthly or quarterly rate, as well as cases in which property is sold and the proceeds split, or one partner paying the other to retain certain property, such as the family home.
The negotiations regarding property division should be managed with the help of a highly skilled NYC divorce lawyer from H. Benjamin Perez & Associates, P.C. We have a great deal of experience in the many options open to divorcing couples and in hammering out an agreement that is in alignment with the concept of equitable division.
The Division of Martial Property in a New York City Divorce
Every couple has a unique situation, and a full valuation of the marital and personal property should be undertaken early in the process. There are cases in which property evaluation is simple and easily, as well as those that are extremely complex financial situations where many assets must all be identified and valued. These may include:
- Many properties
- Stock accounts
- Retirement accounts
- Business interests
- Works of art or other valuables
The potential value of a property could be more complex than a simple property valuation, as the property could have a potential value in redevelopment or similar situation.
We are extremely careful when undertaking the valuation of marital property. There are often situations in which personal funds have been comingled with marital funds making a valuation a complex issue. Our firm has access to highly skilled professional that can sort out the most complex financial entanglements, including in high net worth divorce or in a marriage of long duration. We will protect your right to all of the property you have a right to in divorce.