Getting To Yes: Equitable Property Division
Property division is central to all divorce cases. Whether you have a high-asset estate, or a house, some savings and a pension, the same rules apply.
At Bryan L. Salamone & Associates, P.C., we know the law, and we help you understand the law when it comes to dividing your property. Here are some points you need to know:
- Property: Everything acquired during your marriage is your marital property. In New York, if left to a court, your property will be divided equitably — not equally. Oftentimes, couples reach more satisfying agreements out of court, through mediation. We can help you do this. On the other hand, for couples who cannot settle out of court, we are well-equipped to take the aggressive stance you need — with a case that is well-prepared and persuasively presented to the court.
- Separate property: Separate property brought to a marriage by one party is not considered part of the marital estate, and is not subject to equitable distribution. Types of separate property often include an inheritance, proceeds from a personal injury lawsuit, or a gift specific to one spouse from an outside party.
- Commingling: We have significant skill tracing or proving the provenance of property claimed as separate. Sometimes, the separate financial assets of one spouse are pumped into the marriage, forever commingled with the marital estate. Or a substantial asset like real property brought to a marriage, and improved or enhanced through the marriage, undergoes transmutation, allowing a non-owner spouse to benefit from value added since marriage. To avoid such situations, prenuptial agreements should be used to protect separate property, in the event of divorce.