If you are going through a divorce, call our office to see how we can help. Jean has over 30 years of divorce litigation experience.
What is Important to Know About Equitable Distribution?
- Equitable means fair, and most property is divided equally in New York State
- It is important to value the contributions of the spouse who stays home to care for the family equally to the contributions of the spouse who is out working every day
What Is Considered Separate Property in a Divorce
- Marital property is defined broadly, separate is defined narrowly.
- Property that belongs to just one party can include inheritance, lottery winnings, or property before marriage.
- These items are not divided during a divorce.
How To Get Money Back for Commingled Property
The court is assigned the responsibility of classifying and dividing property. Property may be defined as marital property, which was acquired during the marriage, or it may be classified as separate property, which was acquired prior to the marriage. However, people will make contributions in the way of making payments on a mortgage, or they will make improvements to the property itself. There is the ability to recoup monies, such as those that had been paid towards a mortgage. A spouse may also be eligible to receive a credit or an interest in the appreciation in the value of the house based upon the contributions that he or she made towards the appreciation in that house.
If you are going through a divorce, call our office to see how we can help. Jean has over 30 years of divorce litigation experience and can guide you through this troubling time.