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830 Post Road East, Suite 301 | Westport, Connecticut 06880
2435 Route 6, 2nd Floor | Brewster, New York 10509
Call For Consultation 203-557-9500845-860-0000
Asset and Property Division – NY

New York Equitable Distribution Attorneys Protect Their Clients’ Interests

Brewster divorce lawyers determinedly pursue fairness in the distribution of property and assets

An important part of almost all New York divorces is determining how to fairly divide the property that the couple

Attorney Kevin Brown New York Family Law Attorney; NY versus CT; Divorce Counsel Fee Awards; Spousal Maintenance; Property Division; Mediation and Arbitration; Child Custody; equitable distribution

Attorney Kevin C. Brown

accumulated and intermingled throughout their marriage. You and your spouse might have very different notions of what is fair, and New York courts have considerable discretion in deciding the issue. If you live in Westchester, Dutchess, Putnam County or New York City, you can count on the skilled and determined New York attorneys at Needle | Cuda’s Brewster office to provide the high-quality representation you need deserve.

How does the distribution of property and assets work in a New York divorce?

Not all property owned by a married couple gets divided in a divorce. The court makes a distinction between “Marital Property”, which it may divide, and the “Separate Property” of each spouse, which they each get to keep.

Generally speaking, your “Separate Property” includes:

  • Property you acquired before marriage;
  • Gifts and inheritance to you;
  • Money you received to compensate you for a personal injury;
  • Property you exchanged for your separate property;
  • Anything you and your spouse agree is separate property;

“Marital Property” includes:

  • Any property either you or your spouse acquired/earned during your marriage but before you separated or filed for divorce, even if it is titled in only one of your names;
  • An increase in the value of one spouse’s separate property caused by the efforts or contributions of the other spouse;

We can explain in detail which of your property qualifies as marital and which qualifies as separate. If it will serve your interests, we will negotiate an agreement with your spouse’s attorney that clarifies or revises these distinctions.

How New York courts divide “Marital Property”

New York property division is governed by the principle of fairness, not necessarily equality between the spouses. A court must consider a number of factors when dividing the property, including:

  • Each spouse’s income and property when they married and when the divorce was filed;
  • How long they were married and their ages and health;
  • Whether a custodial parent needs the marital home;
  • The loss of inheritance or pension rights upon divorce;
  • The loss of health insurance because of divorce;
  • Whether the property is easy to sell (liquid) or hard to sell (non-liquid);
  • Whether it is difficult to put a value on some assets like a business or a professional license;
  • Whether either person gave away or sold the property for less than it was work to keep it away from the soon to be ex-spouse;
  • Any spousal maintenance awarded;
  • Spouses’ claims to, interests in or contributions to the acquisition of marital property;
  • Each party’s probable future financial condition;
  • Tax consequences;
  • Whether either spouse wasted (spent or lost) marital assets on purpose during the marriage;
  • Whether there was any domestic violence between the two people;
  • If the couple has a pet, the court will consider what is best for the pet;
  • Any other factors that the court decides are fair and reasonable to consider;

We will carefully evaluate all of the relevant factors that favor you and make sure the court is aware of them.

Dividing marital debt (liabilities)

Marital debts are any liabilities incurred by either spouse during marriage for the family’s benefit, as opposed to debts incurred by a spouse for their own benefit. The court must determine what is marital debt and divide that equitably, using the same set of factors as it did to divide marital property.

We will determine which of your debts are marital and present the case for a division of it and other marital debts that are fairest to you, either by agreement or in court.

Contact our New York asset and property division lawyers today

Needle | Cuda, located in Brewster, helps clients throughout Westchester, Dutchess, Putnam counties, and New York City with the asset division process. To arrange a consultation, call us today at 203-557-9500 or contact us online.


Frequently Asked Questions and Answers about the difference in divorce laws between Connecticut and New York

Understanding the complexity of residency for high net worth individuals who may have homes in multiple states, Needle | Cuda adeptly navigates the specific residency requirements in both Connecticut and New York. The firm ensures that clients meet jurisdictional criteria to file for divorce, providing clear, strategic guidance tailored to each client's unique circumstances.

Needle | Cuda emphasizes the distinction between Connecticut's "all property" approach and New York's focus on "marital property" for equitable distribution. With profound experience in high asset divorces, the firm meticulously evaluates and advocates for fair distribution, leveraging its expertise to protect and optimize clients' financial interests in either state.

The firm leverages its deep understanding of the nuances in spousal support laws between Connecticut and New York, crafting bespoke strategies that reflect each state's guidelines and the lifestyle accustomed during the marriage. Needle | Cuda focuses on achieving equitable outcomes that safeguard clients' wealth while ensuring fairness and compliance with state-specific laws.

With a child-centric approach, Needle | Cuda navigates the distinct legal frameworks of Connecticut and New York to advocate for custody and support arrangements that serve the best interests of the children while respecting the sophisticated needs of high net worth families. The firm employs a balanced, thoughtful strategy to secure outcomes that promote stability and well-being.

Recognizing the critical importance of business assets in high net worth divorces, Needle | Cuda utilizes tailored strategies to value, protect, and fairly distribute business interests. The firm's approach takes into account the differing legal landscapes of Connecticut and New York, ensuring business assets are handled with precision and foresight.

Needle | Cuda provides experienced guidance on the enforceability and implications of prenuptial agreements in both Connecticut and New York. The firm ensures that such agreements are drafted and reviewed with meticulous attention to detail, reflecting the complexities of each state's laws to protect clients' interests effectively.

Aware of the significant tax implications of divorce, especially for high net worth individuals, Needle | Cuda advises on the most tax-efficient divorce settlements. The firm's nuanced understanding of Connecticut and New York tax laws allows for strategic planning that minimizes tax liabilities and maximizes financial health post-divorce.

With unparalleled expertise in high asset divorces, Needle | Cuda employs sophisticated valuation and negotiation techniques to address the division of luxury assets and real estate. The firm's approach is tailored to the legal context of each state, ensuring that clients retain their fair share of high-value investments.

Needle | Cuda is renowned for its discretion and tactful handling of high-profile divorces. The firm's strategic communications and privacy measures are adapted to the legal and media landscapes of Connecticut and New York, ensuring that high net worth clients maintain their privacy and dignity throughout the divorce process.

For international clients navigating divorce in Connecticut or New York, Needle | Cuda offers global insights combined with local expertise. The firm adeptly handles cross-border legal issues, asset protection, and custody arrangements, providing comprehensive support for clients with international ties.

Needle | Cuda places paramount importance on confidentiality, understanding the high stakes for privacy in high net worth divorces. The firm employs robust confidentiality protocols and leverages discreet legal processes available in both Connecticut and New York to protect sensitive information, ensuring that the privacy of their clients is maintained throughout the divorce proceedings.

Recognizing the emotional and financial value of art and collectibles, Needle | Cuda utilizes expert appraisers and negotiators to accurately value and equitably divide these assets. The firm’s sophisticated approach considers not only the current market value but also the provenance and future appreciation potential, ensuring a fair division that respects both parties' attachments and financial interests.

The well-being of children is a central focus for Needle | Cuda. The firm advocates for parenting plans and custody arrangements that minimize disruption and support the children's lifestyle and educational needs. By prioritizing a collaborative approach and utilizing child specialists when necessary, Needle | Cuda ensures that the children of high net worth families have a stable and nurturing environment post-divorce.

Retirement and pension assets are critical components of high net worth divorces. Needle | Cuda’s expert attorneys navigate the complex laws governing these assets in both Connecticut and New York, crafting strategies that protect clients’ long-term financial security. The firm's negotiations focus on equitable distribution while considering tax implications and future financial planning.

For high-profile clients, public image and media exposure are significant concerns during a divorce. Needle | Cuda strategically manages media relations and public statements, working closely with public relations professionals when necessary. The firm's approach is proactive and discreet, aiming to minimize exposure and manage the narrative in a way that protects clients' reputations and privacy.

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