Marital Estate Distribution
When getting divorced in NY State, it is better to conduct an uncontested divorce rather than a contested divorce. Our White Plains, New York uncontested divorce lawyers and law firm will guide you through the property distribution of your marital estate with the least amount of stress and expense. In New York, an uncontested divorce is the way to go because it is quicker, less costly, easier to manage, more certain, and less stressful. Our Westchester County uncontested divorce law firm will make all of the steps of the process understandable and easy. We will do everything for you to make undoing your marriage as simple as possible.
Under NY divorce law, marital property is subject to "Equitable distribution." However, this does not mean "50/50 down the middle." Rather, it refers to what is a "fair distribution" of the marital estate given various circumstances of the marriage. Under NY DRL § 236 equitable distribution guidelines and criteria, the factors to be included when considering how to equitably distribute the marital property are:
- Duration of the marriage
- Earning potential, and future earning capability
- Health & age
- Income of the spouses
- Custodial parents need to occupy the martial residence
- Liquidity of the asset
- Tax consequences
- Loss of inheritance, pension rights, and health insurance due to a divorce
- Wasteful dissipation of assets by one spouse during the marriage
- Marital debt
- Contribution of each spouse to the acquisition of the assets
Except for a spouse wasting marital assets during the marriage, interpersonal fault for the failure of the marriage is not considered when deciding the fair distribution of assets. This means that it does not matter whether your spouse was cheating on you, that it was your spouse’s “fault” for the failure of the marriage, or that your spouse, and not you, wants the divorce.
When you have our uncontested divorce law firm representing you during your divorce, our legal team will keep you balanced and focused on what matters most. We know that divorce is emotionally draining and will do everything we can to lessen the emotional load that comes with divorce.
It is always our goal to guide you through the process in negotiating a property distribution for you that makes sense in light of the existing situation and laws. The last thing you want are assets distributed by judicial decree, because legal fees often eat up any benefits of the dispute, and you lose control over what happens. Often times even if you perceive that you could have “won” more at trial than you negotiated in a settlement, it would have cost more in legal fees than what the value of what was won is worth. All of these issues can be explained in detail to you by our uncontested divorce attorneys. An uncontested divorce allows you to arrive at terms mutually agreeable to both parties, prepares you for life after divorce, diffuses potentially explosive situations, avoids a judge deciding how your marital estate is divided, and allows you to control your own fate and destiny.
We realize that divorce is not easy and you likely have more questions and concerns. We invite you to pick up the phone and give us a call. We’d love to chat with you about your situations and answer any questions you may have. We do this every day.