Generally, under New York law, any income or property a person acquires while they are married is deemed a marital asset. There are exceptions to the general rule, though, for things like property obtained via inheritance. While money from an inheritance can be converted to marital property, a person arguing…
It is not uncommon for married couples to share finances, regardless of each party’s individual earnings. If they divorce, though, they may disagree regarding property rights. New York is an equitable distribution state, which means that the courts divide assets in a fair, rather than equal, manner in divorce actions.…
Under New York law, when a couple divorces, any marital assets are subject to equitable distribution. In other words, the courts will allocate them in a manner they deem fair, which does not necessarily mean they will be divided equally. Separate property, on the other hand, remains the property of…
In many marriages, one spouse acquires or saves substantially greater assets than the other. When such marriages end in divorce, the court may grant a lesser share of marital assets to the less affluent spouse. In other words, a court’s equitable distribution of marital property does not necessarily result in…
During the Pandemic, more companies are offering employees stock options and other stock awards instead of regular compensation. Such assets are not easy to uncover during a divorce process. There are certain things you can do to find out whether your spouse is hiding an employer stock plan and ensuring…