Goshen Asset Division Lawyer
If you are getting a divorce in New York, you will have to deal with various elements. One of them is property division. Property division law can be complex, as it varies from state to state. In New York, the laws focus on equitable distribution, so the court will divide marital property between spouses in a way that is fair. The court decides what’s fair based on what each of you contributed to the marriage and what each spouse will need after the divorce. The division does not have to be equal. It can be 60/40, 70/30, or some other split based on the factors involved.
You and your spouse can try to resolve your property disputes on your own. This is the recommended approach. However, if you and your spouse cannot come to an agreement, then you will need to go to court and have a judge decide for you.
The process can be daunting. The Law Office of Robert S. Sunshine, P.C. can ensure that the asset division in your divorce case is equitable. Contact a Goshen asset division lawyer to see how we can help you.
Considerations for Asset Division
What do you need to do to ensure assets are split fairly? Here are some things to keep in mind:
- Marital vs. separate property. Marital property is split in a divorce. This includes assets acquired during the marriage, such as income, real estate, vehicles, investments, and retirement accounts. Separate property refers to assets owned by one spouse before the marriage. Separate property also includes inheritances and is not divided in a divorce.
- Inventory of assets. It is important to compile a comprehensive list of all assets, including financial accounts, real estate, vehicles, investments, and debts. These assets will then need to be valued.
- Financial disclosure. Full financial disclosure is required by both spouses. This means declaring all assets, income, and debts. Hiding assets or providing false information is immoral and illegal.
- Considerations for division. Several factors may influence how assets are divided, including the length of the marriage, each spouse’s financial situation, their contributions to the marriage, any children, and future earning potential.
- Negotiation and settlement. Spouses can often negotiate a settlement agreement to determine the division of assets outside of court. This allows for more flexibility and control over the outcome.
- If an agreement cannot be reached through negotiation, the case will have to go to court so a judge can decide the division of assets. The court’s decision will be based on applicable laws and any evidence,
Contact The Law Office of Robert S. Sunshine, P.C. Today
The laws surrounding asset division in divorce can be complex. It is crucial to consult with a qualified attorney who can provide guidance based on your specific circumstances.
The Law Office of Robert S. Sunshine, P.C. can help you resolve asset division and other issues surrounding a divorce. We’ll work hard to help you obtain the best possible outcome. Schedule a consultation with a Goshen asset division lawyer by calling (845) 735-1300 or filling out the online form.