Determining how to divide assets and share debt that accrued during a marriage can be among the more stressful aspects of a divorce. New York is an “equitable distribution” state, which means that any assets and liabilities acquired during your marriage are deemed “marital property” and are subject to equitable distribution between both parties.
Property that was acquired before your marriage, inherited or received as a gift from someone other than your spouse is generally considered separate property. However, in certain circumstances, it may be included in marital property, particularly if commingled with marital assets.
At Arnel Law Firm, we work hard to find fair solutions to asset distribution through negotiations rather than through drawn-out litigation, if possible. We are always trial-ready though, in the event a more aggressive approach becomes necessary.
“I do not have enough descriptive words to express how I feel, but all I really want to let you know is that your efforts and quick response to my request for help will always be highly appreciated and remembered.”
Our Lawyer Has Real Financial Training
Attorney Curt Arnel’s training and work experience as a certified public accountant provide insights and an understanding of complex financial matters that are unique among family law lawyers. His skills allow him to:
- Properly value complex holdings such as investment real estate and retirement accounts
- Understand a family business spreadsheet in order to properly determine its value
- Uncover hidden assets, deferred income and other less obvious marital property
- Understand tax statements, balance sheets and other financial records that may play a role in child support, alimony/spousal support and property division matters
We also have established strong relationships with a number of other financial specialists, including appraisers, real estate agents, pension evaluators, forensic accountants, actuaries and more.
New York judges weigh a number of factors to determine how to arrive at an equitable distribution of property. These include:
- The length of the marriage
- Earning power of both spouses
- Separate property of both spouses
Wasteful dissipation of marital assets
- Responsibility and care of any children