By Randy S. Margulis | Published January 29, 2024 | Posted in Family Law | Tagged Tags: commingling, equitable distribution, marital property, prenuptial agreements | Comments Off on Defining Separate vs. Marital Property in Equitable Distribution
Equitable distribution is the legal framework used to divide property during a divorce in New York. Only property that is deemed marital in nature is subject to division. Generally, marital property includes assets and debts acquired by either spouse or both during the marriage. Separate property consists of assets acquired before the marriage or after Read More
Read MoreAmong the most challenging issues in divorce cases can be how to divide the spouses’ marital property between them. New York follows the rule of equitable distribution, which means all marital assets must be divided fairly, though not necessarily equally. Division becomes problematic when a spouse intentionally or recklessly spends, damages, destroys or disposes of Read More
Read MoreA postnuptial agreement is similar to a prenup, a popular way to decide money and property issues at the start of a marriage rather than leave them for resolution during a divorce. Postnups — created after the parties are married — work much the same as prenups, but they are subjected to a higher level Read More
Read MoreDivorce can be a very stressful experience, especially as it relates to the division of marital property. When a couple divorces in New York, unless the parties agree otherwise, the court will divide their property in a way that is fair to both spouses, which is known as equitable distribution. In order to decide what Read More
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