Helping Clients Protect What They Have Earned
New York courts use the system of equitable distribution when dividing marital property in a divorce proceeding. It is important to note that equitable distribution does not mean “equal” division — it means “fair” division — and if your case goes to trial, the court will determine what is fair. Property division during a divorce can be extremely complex if the parties are high net-worth individuals or share extensive assets such as real estate holdings, stock portfolios, pension benefits or a family business.
Brettschneider & Brettschneider LLP has extensive experience helping clients develop creative solutions to complex property division problems. We regularly work with forensic accountants to uncover hidden or co-mingled assets and conduct trustworthy business valuations. Located in Huntington, our law firm represents individuals and families throughout Long Island, New York.
Contact us to speak with an experienced Long Island equitable distribution attorney.
Conducting Reliable Asset Searches And Business Valuations
While many judges favor a 50/50 property division, extenuating circumstances frequently require courts to deviate from this formula, particularly when valuing businesses, professional practices, professional licenses and enhanced earning capacity. Courts consider a number of factors in determining a fair property division, including:
- The financial situation of the parties at the time of separation
- Tax implications to the parties
- The need for the primary custodial parent to remain living in the family home
- The parties’ respective earning power
- An award of spousal maintenance
- The existence of pension or retirement accounts
- Contributions of one spouse to advance the career or education of the other
- Any post-separation acts to devalue marital property
Equitable distribution laws only apply if your marital property is divided by the court. Our law firm frequently assists clients in negotiating and settling property division issues without resorting to court intervention; this way spouses can divide their property in the manner they see fit.
However, if you and your spouse are unable to agree to an out-of-court division of property, we will aggressively represent your interests at trial. Our lawyer has litigated hundreds of property division cases and has established an impressive record of success in the courtroom.