Hudson Valley Property Division AttorneysBeacon Property Division Lawyers Who Work With Your Schedule
When a couple divorces, their marital property must be divided. Although some couples are able to come to an amicable agreement about property division, this is often not the case, and the court will have to decide how property will be divided. At Letterio & Haug, LLP, our Hudson Valley property division lawyers take a strategic approach to complex cases and offer tailored legal representation from a team of Dutchess County family law attorneys with more than two decades of combined experience.
Contact our Dutchess County property division lawyers to have your questions answered in a consultation. Our office is located in Beacon.
Equitable Distribution in New York
New York uses the method of equitable distribution to divide marital property. Sometimes, this will result in equal distribution, but this is not always the case. The judge will strive to distribute marital property fairly, and a variety of factors will be considered in making this determination.
The court may consider factors such as:
- The income and separate property of each spouse
- The age and health of each spouse
- Pensions, health insurance, and inheritance rights
- The duration of the marriage
- Whether alimony has been awarded
- Future financial circumstances of each spouse
- Liquid or non-liquid character of the property
- Whether one spouse has wasted, transferred, or encumbered marital property
Only marital property will be divided, and each spouse will keep his or her own separate property. Marital property is all property acquired during the marriage, the income of each party during the marriage, and property purchased with marital assets. The retirement benefits of each spouse which were earned during the marriage and the appreciation of property is considered marital property in the divorce proceeding.
Separate property includes property acquired by each spouse prior to the marriage, property received as an inheritance, compensation for personal injuries, and property characterized as separate in a prenuptial agreement. There is often disagreement about whether certain property is marital or separate. Our Hudson Valley property division attorneys in Beacon, NY, aggressively advocate on your behalf and fight for fair distribution of marital property.
Contact our Beacon property division attorneys to learn how the law applies to your situation. We take clients throughout Putnam County, Ulster County, and Orange County, NY.
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