When couples decide to divorce, one of the most important considerations is the division of assets and debts. In some states, such as California, the law requires that marital property be divided equally between spouses. However, New York operates under a different set of laws when it comes to property division in a divorce.

















In New York, marital property is divided based on the principle of equitable distribution. This means that property acquired during the marriage will be divided in a way that is fair and equitable, but not necessarily equal. The court will consider a variety of factors when making its decision, including the length of the marriage, the income and earning potential of each spouse, and the contributions made by each spouse to the marriage.









Navigating the complexities of property division in a divorce can be challenging. Ensure your rights are protected and you receive a fair distribution of assets with the help of an experienced New York divorce lawyer. At the Law Office of Richard Roman Shum, our team of skilled New York divorce attorneys may be able to guide you through the divorce process in New York and advocate for your best interests. Call us today at (646) 259-3416 to schedule a consultation.

















Domestic Relations Law and Equitable Distribution









The New York Domestic Relations Law sets out the rules for the division of marital property in divorce cases. Section 236(B)(5)(d) of the Domestic Relations Law provides that marital property is to be divided based on the principle of equitable distribution. The law defines marital property as any property acquired by either spouse during the marriage, regardless of how the property is titled or held.









The Domestic Relations Law also allows for separate property to be protected from division in a divorce. Separate property is property that is acquired by one spouse before the marriage, or property that is acquired by gift, inheritance, or personal injury award during the marriage. However, if separate property is commingled with marital property, it may lose its status as separate property and become subject to division in a divorce.









The Domestic Relations Law sets forth the factors that courts consider when dividing marital property in a divorce. These factors include:











The income and property of each spouse at the time of marriage and at the time of the divorce








The length of the marriage and the age and health of the spouses








The need of the custodial parent to occupy or own the marital residence and to use or own its household effects








The loss of inheritance and pension rights upon dissolution of the marriage as of the date of dissolution








Any equitable claim to, interest in, or direct or indirect contribution made to the acquisition of such marital property by the party not having a title, including joint efforts or expenditures and contributions and services as a spouse, parent, wage earner, and homemaker, and to the career or career potential of the other party.
















Details






Marital Property


Property acquired during marriage by either spouse






Separate Property


Property acquired before marriage or by gift, inheritance, or personal injury award






Commingling of Separate and Marital Property


Separate property mixed with marital property may become subject to division






Factors Considered


Income and property at the time of marriage and divorce, length of marriage, age and health, need of custodial parent for residence and household effects, loss of inheritance and pension rights, contributions to acquisition of marital property














Case Law and Equitable Distribution









The New York courts have issued numerous decisions that provide guidance on how to apply the principle of equitable distribution in divorce cases. In the case of Grunfeld v. Grunfeld, the court emphasized that equitable distribution does not mean equal distribution and that the goal is to arrive at a result that is fair and reasonable under the circumstances of the case. Grunfeld v Grunfeld, 255 AD2d 12, 21 [1st Dept 1999]









In another case, Majauskas v. Majauskas, the court established the principle that pension benefits earned during the marriage are marital property subject to division in a divorce. This decision has had significant implications for the division of retirement benefits in divorce cases. Majauskas v Majauskas, 61 NY2d 481, 486 [1984]









While New York is not a community property state, the division of marital property in divorce cases is still an important and complex issue. If you are facing a divorce and are concerned about the division of your assets, it is important to work with an experienced family law attorney who can help you understand your legal rights and options.









By understanding the principles of equitable distribution and the rules governing the division of marital property in New York, you can be better prepared to navigate the divorce process and protect your financial interests. At the Law Office of Richard Roman Shum, we offer experienced, quality legal assistance and services aimed at helping New Yorkers navigate the complexities of divorce and family law. Contact us today at (646) 259-3416 to schedule a consultation.







via Law Office of Richard Roman Shum, Esq. https://www.romanshum.com/blog/is-new-york-a-community-property-state-for-divorce/