Buffalo Property Division Attorney
Protect your assets and property from distribution during divorce
One of the most contested aspects of divorce is the division of assets, property and debts acquired before and during marriage. When your financial future is hanging in the balance, you need an experienced family law attorney who knows how to protect your interests throughout the divorce process.
The Law Offices of Randy S. Margulis and Associates provides clients with effective representation in property division matters. I have 25 years of experience handling divorces throughout the Buffalo metropolitan area and know what it takes to protect your assets during divorce. Let me put my knowledge and skill to work for you today.
Experience matters when your assets are on the line
If you and your spouse cannot agree on how to divide your marital property, the law recognizes a process called equitable distribution, which determines how your assets will be divided, and how your debts will be apportioned. Equitable does not always mean equal. There are a number of legal factors that go into such a determination. Having the right experienced property division lawyer on your side can help save you a considerable amount of money in the divorce process.
To calculate each spouse’s share under equitable distribution, courts must first determine what assets are considered marital property and what qualifies as separate property. In New York, all property acquired during a marriage is subject to equitable distribution upon divorce. There are, of course, exceptions and nuances to all the rules. Sometimes property becomes commingled, and is difficult to classify. Sometimes it is difficult to determine when a certain property right came into existence in the first place. This includes all property acquired before executing a separation agreement or starting a matrimonial action, including:
- Real estate
- Bank accounts
- Professional degrees or licenses
- Retirement plans
- Stock options, 401(k)s and IRAs
- Business investments
- Credit card debt
However, separate property is not subject to equitable distribution. Separate property includes:
- Property acquired by one spouse before marriage
- Property acquired as an inheritance
- Gifts from a person other than the spouse
- Any increase in value of separate property
- Property acquired in exchange for separate property
- Property considered separate in a prenuptial agreement
During equitable distribution proceedings, spouses must prove that this property is in fact separate and not subject to division in the divorce. Let my experience in this area work for you, to ensure that you keep as much of your hard-earned property, or that you receive as much of your fair share of the marital property, as possible.
Equitable distribution factors in New York
In New York, judges take many factors into account when determining each spouse’s share under equitable distribution, including:
- The length of the marriage
- Each spouse’s income
- Each spouse’s age and health
- Each spouse’s contribution to the marital estate
- Loss of pension and inheritance rights
- The need to occupy the marital home
When defending your rights, I put my knowledge of the law and experience settling cases to work for you, to ensure that your contributions toward the accumulation of marital assets is adequately compensated. I have helped hundreds of clients throughout Western New York receive the financial support they needed after a divorce, and I stand ready to assist you today.
Effective representation. Proven results.
Call the Law Offices of Randy S. Margulis and Associates today at 716.886.9600 or contact our firm online to schedule an initial consultation. From my offices conveniently located in Williamsville and downtown Buffalo, I represent clients living throughout the Buffalo metropolitan area and Western New York, including:
- Grand Island
- Orchard Park
- Niagara Falls
- West Seneca