Distribution of Assets

In New York, marital property and assets are divided based on an equitable distribution law under Domestic Relations Law 236 B. To determine what constitutes an equitable distribution in a particular divorce case, the court applies 13 factors. These factors take into account the health, age, and financial situation of each spouse, how liquid the property is, the need of one of the parties to remain living in the house, the potential future financial situation of each party, the tax consequences the distribution would have, anything either spouse did to waste, transfer, or encumber the other party’s share, and anything else the court finds relevant to determining how the assets should be distributed between the parties.

In addition to the most common issues described above, the Law Offices of Ira M. Bierman also represent clients in grandparents’ visitation cases, and proceedings for orders of protection in domestic abuse and family violence cases. If you receive an unfavorable outcome in the divorce proceeding, the Law Offices of Ira M. Bierman also represent clients in appeals before the appeals division. .

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
Distribution of Assets, 5.0 out of 5 based on 1 rating