Dealing With Property Division Issues in New York Divorce
The attorneys of Michalski Militello LLP advise divorce clients about all aspects of property and debt division under New York matrimonial law. Although it's possible to negotiate and settle marital property issues on satisfactory terms in most cases, our trial experience and close attention to detail in property division disputes can help you avoid unnecessary concessions on contested asset division issues. Contact us in Rochester or Avon to learn how our lawyers can advise and represent you.
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New York follows the equitable distribution model of asset and debt division between divorcing spouses, which means that a fair division is more important than a strictly equal one. Nevertheless, most family court judges and practitioners will take an equal split as the starting point, and they'll need to see good reasons for an adjustment in either direction.
Therefore, we advise our clients to get a specific idea of the size of their marital estate before working out a property division wish list. Our lawyers can help you understand which assets are subject to division and which will be treated as separate property that each spouse can keep. In some cases, disagreement as to the proper characterization of an asset as marital or separate property can complicate your case. It might even need a judge's ruling to determine the composition and value of the property to be divided between the divorcing spouses.
At Michalski Militello, we help our clients resolve property division problems in cases of all kinds, ranging from fairly uncomplicated short-term marriages with basic joint assets to extensive marital estates reflecting one or both spouses' high incomes, investments or business holdings. We advise clients about the best ways to approach the division of assets and indebtedness involving:
- Equity in the primary residence
- Motor vehicles and related debt
- Mortgage debt and home equity loan obligations
- Family business assets and liabilities
- Interests in professional practices: medicine, dentistry, real estate, accounting
- Assets or liabilities specifically identified or generically described in a prenuptial agreement
- Investment assets: securities, pensions, retirement accounts
In many cases, property division issues are resolved in conjunction with spousal maintenance issues. The specific circumstances of your case might make it advisable to make a concession in one area in order to receive an important benefit in the other.
If your circumstances require you to receive more than half of the marital estate, or to resist such a demand from your spouse, we can assemble and present the facts that will afford you the greatest possible protection on asset division issues.
For more information about the resolution of property division issues in New York divorce, contact Michalski Militello in Rochester or Avon.
