When a couple divorces in New York State, their marital property is subject to what is called “equitable distribution.” Equitable distribution does not mean that the assets will be divided equally between the two divorcing parties. It means that the property must be distributed in a fair manner, taking a number of factors into consideration, such as
Whether the property is separate property or marital property
The contribution of each spouse to the marital property, including contributions of non-working
The length of the marriage
The age and health of each spouse
The amount and source of income for each spouse
The future earning potential of each spouse
Any retirement accounts or pension funds
mounts either spouse may stand to inherit in the future
Any spousal and/or child support that has been awarded
Any property that has been transferred or deliberately dissipated in anticipation of divorce
Outstanding debts incurred during the marriage
In order to make this equitable distribution, New York State law requires that both parties disclose all of their assets and income. Sometimes, however, spouses are reluctant to reveal all of their assets or try to undervalue assets. When this happens, the services of accountants, real estate appraisers, business and other appraisers, and even private investigators are needed to make sure all of the marital assets have been disclosed and are properly valued. This is an extremely complex matter that can create great bitterness between the two parties to the divorce, making it difficult or impossible to compromise on even the most inconsequential matters.
The attorneys at the law firm of John N. Fath, P.C. have over twenty-five years of experience with all aspects of the divorce process. We have successfully negotiated property settlements for people from all walks of life, from ordinary working-class couples to couples with extensive, complex investments. We are proud of our ability to convince our clients to put their emotions aside and focus their attention on arriving at a division of assets that is acceptable to both parties.
When negotiations do break down and the divorce goes into litigation, we will use every strategy and tactic we have learned in our decades in the divorce courts of Nassau County and Suffolk County to aggressively protect your rights and interests. At the same time, we will be candid with you about what you can realistically expect the courts to grant to you. If you believe your spouse is trying to hide assets, we are able to draw on our long-standing relationships with trusted local accountants and appraisers to help determine the true value of your marital assets.
Call the attorneys at the law firm of John N. Fath, P.C. today to discuss how we can help you arrive at a fair division of your marital property.