Divorce comes with some special considerations when it comes time to divide marital property and establish alimony payments. When a New York couple gets a divorce, the judges aim to divide property equitably. The basis for equitable division is generally determined by what the judge feels each spouse contributed and how much each spouse needs to move forward.
How courts divide marital property and alimony
The division of marital property requires the consideration of several factors, including each spouse’s income before, during and after the divorce. The duration of the marriage also comes into play. Age and health may play pivotal roles in the decision as well. Courts only divide marital property, and separate property remains the property of the owner. The separate property requires proof, and it may include property acquired before marriage, gifts, compensation for personal injuries and other situations.
Judges may establish permanent alimony for individuals who have certain conditions that make it impossible to maintain a certain quality of life. While most alimony payments come with a specific end date, understanding the conditions required for indefinite alimony prevents misunderstandings.
While a judge strives to distribute property fairly, one party may end up with a larger share of the assets of the couple. Spousal support may also affect the amount of property distributed.
Working with your spouse
If both spouses can agree to an equitable division of property and an alimony amount that the judge deems fair, the court may approve a settlement. Negotiating a settlement before seeing a judge can make the process much smoother.