Staten Island Family Divorce Attorney

Equitable Distribution in Divorce

Staten Island Divorce Lawyer A. Sheralynn Dow

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. If you are located in Staten Island, Brooklyn, or in the counties of Monmouth or Middlesex, New Jersey, you can find competent legal representation with me.

What Is "Equitable Distribution"?

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 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.

Staten Island Divorce Lawyer for Division of Marital Property

In any equitable distribution matter, the court will consider a number of factors before determining what a fair division of the marital property is. I can review your financial situation and advise you on how your case should be presented to the court.

Contact me today for legal representation in the division of marital property pursuant to a divorce.