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The two primary systems for dividing marital assets in the United States are community property and equitable division. The nine community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin, while the...
As you navigate the property division process in your divorce, you might hear about equitable distribution. Some people assume this to mean that the courts want all marital assets divided equally. In fact, equitable distribution focuses on fair distribution in each...
When a married couple with a jointly owned business decides to part ways, choosing how to settle that business in the divorce is difficult. There are a few avenues to consider as you navigate your settlement depending on your situation. The more you understand about...
The marital home is often the center of the property division debates in a divorce case. Deciding who keeps the house or how to distribute the financial responsibility is challenging, especially when you do not fully understand your options. There are several ways to...
During the process of asset division pursuant to a divorce, one spouse might get part of the other spouse's retirement plan. If this is the case, then there is a specific way to process this type of transaction. This article will look at the formal process necessary...
Retirement plans started after your wedding become part of your marital estate even when only one spouse funded the account. According to the New York State Senate website, marital property consists of assets acquired during a marriage, which could include retirement...
When your New York marriage ends, you may ask yourself if you are going to be able to maintain the same lifestyle to which you have become accustomed. If you think you may not be able to do so, you may have a reason to seek spousal maintenance, or alimony, in your...
While there are many difficult topics to negotiate when filing for legal separation or divorce in New York, dividing marital property may be one of the most overwhelming. Many people become attached to certain items throughout their marriage, and it can be hard to let...
You and your spouse may have decided to end your marriage, but what you may not have decided is what to do with the family business. Your business is an asset that will become the focus of the property division. Basically, you have three options to consider in...
Under New York state law, parties must disclose their finances during divorce proceedings. Failing to tell the whole truth and nothing but the truth in these circumstances is fraud, and yet many people take the risk and hide assets. Why do people hide assets in...
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