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How Are Assets Split in Divorce?

Equitable distribution of marital property and debts is a critical issue in any divorce, especially in those involving complex financial holdings, businesses, or assets. If you are involved in a divorce, you will need to resolve the matter of equitable distribution or division of marital property before your divorce can be finalized.

What Is Equitable Distribution in a Divorce?

Equitable distribution refers to the division of marital property and debts upon the dissolution of marriage. Under New York and New Jersey laws, marital property is divided on the basis of a fair distribution between the spouses. Marital property consists of all property acquired by either or both spouses during the marriage and before any separation or divorce agreement, regardless of how the property is held. Real estate, bank accounts, stocks and bonds, IRAs, vehicles, boats, household furniture, and all other property acquired with marital funds are considered marital property.

As of September 1, 2009, new rules apply in any New York divorce action. These rules prevent either party from selling or transferring any real or personal property, withdrawing or transferring any tax deferred funds, incurring unreasonable debts, removing one another from any medical or dental insurance policies, or changing the beneficiaries of any life insurance policy once a divorce matter has been filed.

I hired Ms. Dow to represent me for a Family Court case, involving Divorce, as well as Child Support, Alimony, Pension - the works! Ms. Dow is one who cares and takes pride in her client's needs. She ... Read More

I hired Ms. Dow to represent me for a Family Court case, involving Divorce, as well as Child Support, Alimony, Pension - the works! Ms. Dow is one who cares and takes pride in her client's needs. She delivers with professionalism and success - will keep you ground when you may be in an irate state. Any court case can lead you there. Additionally, even 7 years later when my file was archived and having moved out of state, Ms. Dow was able to retrieve supporting docs on the drop of a dime to help assist with a related matter. You know the old saying, 'You get what you pay for!'. Ms Dow is the right person for you. Thank you Ms. Dow!! Read Less

- Craig C.
Attorney Dow is an amazing attorney! In addtion to the fact that she is very knowledgeable in the area of family law, she is also very personable. While representing us in a child support matter,she e... Read More

Attorney Dow is an amazing attorney! In addtion to the fact that she is very knowledgeable in the area of family law, she is also very personable. While representing us in a child support matter,she explained to us every detail of her strategy and kept us informed of any obstacles we could potentially face. Ultimately, we won! Don't hesitate to contact this attorney for legal assistance. With her representing you, you will be on the winning team! Read Less

- Odeya & Rakel Israel
I came to Mrs. Dow as my second divorce attorney two days before I had to go to in court. Mrs. Dow always told me the truth about my case and she never said things just to make me feel good. She told ... Read More

I came to Mrs. Dow as my second divorce attorney two days before I had to go to in court. Mrs. Dow always told me the truth about my case and she never said things just to make me feel good. She told the truth at every step so that I could make decisions that were best for me and my kids. She would even call me at night and on the weekends when she has a family of her own. I always knew that she cared about me and my case. I wish I'd met her before I hired my first lawyer. She is not cheap, but she is fair and even gave me a break when I was low on my last payment. Read Less

- Paul
What an incredible lady! She's not only smart and reliable but she's incredibly kind and understanding. There isn't another attorney I would ever trust after working with Ms. Dow. She made a very diff... Read More

What an incredible lady! She's not only smart and reliable but she's incredibly kind and understanding. There isn't another attorney I would ever trust after working with Ms. Dow. She made a very difficult time more bearable and I thank god for her. Read Less

- Client
Mrs. Dow is the most professional, knowledgeable and honest person that I have ever had the pleasure to meet. She gave me the immediate comfort and assurance that my case was most important, and she k... Read More

Mrs. Dow is the most professional, knowledgeable and honest person that I have ever had the pleasure to meet. She gave me the immediate comfort and assurance that my case was most important, and she kept my confidence up throughout the entire length of my case. Astute, with a no stone left unturned mentality. I give the highest recommendation to her. Read Less

- Don
I have used Sheralynn Dow services on a few occasions not only with my initial divorce but also on other matters after my divorce. She has always been a caring understanding person that puts her clien... Read More

I have used Sheralynn Dow services on a few occasions not only with my initial divorce but also on other matters after my divorce. She has always been a caring understanding person that puts her clients best interest 1st. Very responsive both via email and phone. If you call her and she is not available she will definitely return your call before the end of day. Mrs. Dow also knows her law inside out, her knowledge never cease to amaze me. i hope that I will not need her services in the future but if I do I would not hesitate to call her. Read Less

- Jaime

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Have Questions? We Have Answers!

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Do I Need to Live in New York to File for Divorce in New York?

Before you can obtain a divorce in New York State, you must meet one of the following residency requirements:

The parties resided in New York as husband and wife, and either party lived in New York for one year or more prior to filing.
The cause of action occurred in New York, and either party lived in New York for one year or more prior to filing.
The cause of action occurred in New York, and both parties live in New York at the time of filing.
Either party has lived in New York for two years or more prior to filing.

The court cannot maintain jurisdiction over a divorce action unless one of these five residency requirements exists. Any challenge to residency must be raised during the divorce proceedings, and will not be entertained post judgment.

Why Choose Certified Financial Litigator?

A CFL is not just an attorney; they are professionals who have undergone extensive training in handling the financial aspects of legal issues, especially those related to divorce and complex financial matters. Certified financial litigators have completed comprehensive training and achieved a passing grade on the CFL Exam, ensuring they are well-versed in all aspects of financial law. Choosing an attorney with a CFL certification means you're opting for an expert with a deep understanding of financial issues that may arise during legal proceedings. These attorneys can provide advice and guidance based on a thorough knowledge of financial concepts and regulations.

Can I Start a Divorce Against My Spouse When I Reside in New York, but My Spouse Does Not Reside in the Country?

The short answer to this question is, generally, yes, however, this is a complicated issue and it is important for you to speak with an experienced attorney about the issues of service of process on your spouse pursuant to international law. When the country in which your spouse is to be served is a signatory to the Hague Service Convention, the documents to be served will need to be translated into the official language of that country and presented to a Central Authority authorized to effectuate service in that country. This is often a lengthy process, which includes the translation of legal documents, shipping of those documents abroad, and locating your spouse. Attorney Dow has experience organizing the service of international process and welcomes the opportunity to help you serve your internationally located spouse.

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