Westchester County Divorce Attorneys: Property Division
Equitable distribution of property is a fundamental issue in almost every divorce in New York. At The Penichet Firm, P.C. in White Plains, New York, our law firm has 30 years of legal experience, and our family law practice provides clients with the keen advice they need in property distribution matters.
New York is an equitable distribution state, which means that all marital property is divided equitably — though not always exactly equally — during a divorce. Equitable distribution means that the court attempts to divide marital property fairly, based on a series of factors. These can include the income of the spouses at the time of the marriage and at the time of the divorce, the length of the marriage and the age and health of both spouses.
What is Considered Marital Property?
Marital property means anything acquired during the marriage that was not obtained by gift or inheritance. Marital property determinations can be highly complicated. For example, a spouse who owns a business may grow that business during the marriage with help from the other spouse. Real estate may increase in value during the marriage in the same way. Sometimes, more complex property like IRAs, 401(k)'s, pensions and investments make property division more complicated.
The Penichet Firm, P.C. has the knowledge and experience to handle even the most complex matters. We frequently enlist the help of valuation experts and forensic accountants to protect our clients' interests during divorces.
Equitable Distribution Questions? Contact Us
At The Penichet Firm, P.C., we can help. As experienced lawyers, we have in-depth experience with the laws that govern equitable distribution in New York. Contact our Westchester County law firm by calling 914-368-7039.
