Marital Property

During a divorce, one of the issues that must be addressed is division of marital assets.  Marital property distribution, commonly referred to as equitable distribution, can easily become a heated, complicated, and stressful process. Both parties may feel a sentimental connection to a certain property and have conflicting opinions about the best way to divide such property.  During the divorce process it is always a good idea to hire an attorney separate from your spouse. By working with your own lawyer, you can ensure someone will fight on behalf of your best interest, and help you retain ownership of the property and assets you desire.

Under New York law, all marital property must be divided and allocated during the divorce process. But before property can be distributed between the spouses, it must be determined which property is considered marital property and which is considered separate property. The distinction between martial and separate property is extremely important as it will determine what property is eligible to be divided and distributed, and what is not. 

Separate Property
Any property, assets, or debt that was acquired either before the marriage commenced or after it was terminated is considered separate property. Under New York law, separate property is not divided and allocated at any point before, during, or after the divorce process. Separate property remains in the possession of the original owner. Common types of separate property include inheritances, punitive damages, and gifts from third parties.

Marital property
Any properties, assets, or debts that were acquired or contributed during the course of the marriage are considered marital property. Regardless of whose name is on the deed or title, all marital property is subject to equitable distribution under New York state law. Common types of marital property include real estate, money, debt, interest, cars, jewelry, stocks, furniture, pensions, etc. Because marital property may or may not be divided equally, it’s important to work with an aggressive Long Island divorce lawyer who can protect your rights throughout the distribution process.

Contact our Long Island Divorce Attorneys

If are going through a divorce, it’s important to work with a resourceful and experienced attorney. A skilled divorce lawyer can negotiate on behalf of your best interest, and ensure that you receive a fair and just settlement.  At Wisselman, Harounian & Associates, P.C. we have over 30 years of experience handling divorce cases in Long Island.  We understand that this can be a difficult time for everyone involved. That’s why we utilize our knowledge and experience of the law to resolve our clients’ cases as quickly as possible.  We are committed to handling each case with the utmost sensitivity and care, and providing our clients with professional advice and guidance throughout the divorce process. Furthermore, we are prepared to aggressively stand up for our clients in family court, and help them obtain a property arrangement to their liking.

If you are going through the divorce process and would like to speak with an attorney who has experience handling cases involving marital property distribution, then please contact Wisselman, Harounian & Associates, P.C. to schedule a consultation at (516) 773-8300.

Contact Wisselman, Harounian & Associates, P.C.

Wisselman, Harounian & Associates, P.C. is proud to provide legal representation for clients in the New York Metropolitan area, including:  Long Island, Nassau County, Suffolk County, New York City, Queens, Manhattan, Brooklyn, Bronx, Staten Island, Westchester, Rockland Counties and New Jersey.