Long Island Asset Attorneys

If you plan to seek a divorce or legal separation, it is important that you understand New York’s equitable distribution laws, and also have your marital assets professionally analyzed by a matrimonial lawyer.  New York is an equitable distribution state, which means that once spouses divorce, all property acquired throughout their marriage must be distributed “equitably”, not equally.  Any property that is not acquired during the marriage is considered separate property, and may not be subject to distribution.  Separate property includes all property that was acquired before the marriage commenced, such as inheritances, or third party gifts. 

Marital Property
Marital property is the assets and income that is acquired throughout the duration of a marriage.  Before the dissolution of marriage, the court will distribute the marital property equitably to each spouse.  Prior to distributing the marital property, the court will consider a variety of factors before awarding assets to the spouses.  The factors listed below will be taken into account by the court and will greatly impact the court’s final decision:

• the income of both spouses during the marriage
• the income of both spouses before the marriage
• the income of both spouses after the marriage
• the length of the marriage
• the age of both spouses
• the health of both spouses
• the custody arrangement, if children are involved
• the need of the custodial parent to occupy the marital home
• the spousal support award, if any
• the tax penalties for each spouse

After all of these factors are taken into close consideration, the court will distribute the marital property accordingly.

Family Law & Marital Assets Attorneys
Samuelson, Hause & Samuelson
If you plan to seek a divorce or legal separation, you should consult with a trust worthy family law attorney.  A family law attorney can evaluate your situation and provide valuable legal and financial insight.  Most importantly, a lawyer can guide you throughout the divorce process and make sure that your rights and financial security remain protected.  At Samuelson, Hause & Samuelson, our divorce attorneys have over 65 years of collective family law experience.  We are dedicated to obtaining excellent results for each of our clients and their families.