Equitable Distribution Attorney in New York
Long Island Property Division Lawyer
In a proceeding for dissolution of marriage, the Court shall set aside to each spouse that spouse's nonmarital assets and nonmarital liabilities.
In distributing the marital assets and liabilities between and among the parties, the Court shall begin with the premise that the distribution ought to be equal, unless unequal distribution, based on the presence of the following factors, is deemed to be appropriate:
a) The contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker.
- b) Parties’ economic circumstances.
- c) Duration of marriage.
- d) Any interruption of personal careers or educational opportunities of either party.
- e) Contribution of one spouse to the personal career or educational opportunity of the other spouse.
- f) The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
- g) The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.
- h) The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
- i) The intentional dissipation, waste depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
Any other factors necessary to do equity and justice between the parties.
Contact a Nassau / Suffolk County Property Division Attorney at Law Office of Catherine May Co, PC to discuss equitable distribution.