In New York, assets acquired and liabilities incurred during the marriage are considered marital property, and when couples divorce or separate, those assets are subject to equitable distribution. Under this standard, when couples cannot reach an agreement on dividing their assets, courts will divide marital property in a manner that is fair and equitable, though not necessarily equal. At The Law Office of Towers & Associates, P.C., we represent clients in the Brooklyn area and throughout New York to ensure that their rights are upheld and their marital property and debt are divided equitably so that a breakup does not disadvantage them financially.
Before the actual distribution of marital property can happen, assets must be valuated and classified as either marital or separate. Marital property comprises assets acquired during the marriage and available for distribution; separate property consists of assets acquired prior to the marriage and exempt from division. Our divorce attorneys have the necessary familiarity with New York’s equitable distribution laws to distinguish property as either marital or separate. We also have the skill to trace the commingling of separate assets with marital assets, prevent unfair distribution and ensure that no assets or debts are overlooked in the final accounting.
Marital property may include anything you have acquired during the marriage, such as:
Courts will base property division determinations on a number of factors, which may include the financial situation and earning power of each spouse, the degree to which each spouse contributed to the acquisition of marital property, and the future needs and liabilities of each spouse. We will ensure the court has all the information it needs to fairly divide your assets.
At The Law Office of Towers & Associates, P.C., we strive to convert an otherwise stressful and contentious matter into a positive resolution. Our experience has equipped us to handle negotiation and mediation in property division matters whenever appropriate, affording you greater control over the outcome. But experience has shown us that property division is often one of the most contentious issues in a divorce, and when you and your ex-spouse are unable to agree on dividing your assets, we are fully prepared to advocate for your rights in court.
Our divorce attorneys represent clients throughout New York in cases involving the equitable distribution of their marital property and debts. Call The Law Office of Towers & Associates, P.C. at 718-759-1000 or contact us online to schedule a free consultation at our Brooklyn office.