Clement Law

Equitable Distribution

All marital property may be equitably distributed. Martial property is broadly defined as all property acquired by either or both parties during the marriage, but before execution of a separation agreement or the commencement of a matrimonial action. Marital property can be distributed even if it is held solely in the name of one of the parties.

It is important to note that in terms of splitting martial assets, equitable does not mean equal. Assets do not have to be distributed 50/50.

Statutory Provisions providing for equitable distribution of marital property
In New York, a court will consider the following statutory factors when equitably distributing the marital property:

a) the income and property of each party at the time of marriage and at the time of
     commencement of action;
b) the duration of marriage and the age and health of both parties;
c) the need of custodial parent to occupy or own marital residence or to use or own
     household effects;
d) loss of inheritance rights and pension rights upon dissolution as of date of dissolution;
e) any award of maintenance;
f) any equitable claim to or interest in, or direct or indirect contribution to the acquisition of
     the marital property by the party not having title, including joint efforts or expenditures and
     contributions and services a spouse, parent, wage earner and homemaker and to the career
     or career potential of the other party;
g) the liquid or non-liquid character of all marital property;
h) the probable future financial circumstances of each party;
i) the impossibility or difficulty of evaluating any component asset or interest in a business,
     corporation or profession; and the desirability of retaining the asset, or interest in the
     business, corporation or profession free from any claim or interference by the other party;
j) the tax consequences to each party;
k) the wasteful dissipation of assets by either spouse;
l) any transfer or encumbrance made in contemplation of a matrimonial action without fair
     consideration; and
m) any other factor which the Court shall expressly find to be just and proper.

Examples of marital property can be equitably distributed
The types of property that may be equitably distributed are endless. Common examples include: the marital home, vacation homes, automobiles, household furnishings, bank accounts, stock portfolios, pensions and retirement plans, interests in businesses and professional degrees.

In New York, a party's "enhanced earning capacity" which includes the value of any degree, license or certification obtained during the marriage can be distributed

Separate Property (Property that is not subject to equitable distribution)
Separate property is not equitably distributed. Separate property is broadly defined as:

a) property acquired before marriage or by bequest, devise, descent or gift from a party
other than the spouse;
b) compensation for personal injuries;
c) property acquired in exchange for or the increase in value of separate property;
d) any property described as separate property in a written agreement between the parties

Contact Clement Law to discuss your property rights as part of an action to dissolve a marriage.


									Some Parents Are Unfit To Be Alone With Their Children Mildred Loving Dies; Challenged Law Barring Inter-Racial Marriage Mom's Allergy to Dad's Cat Does Not Prevent Visitation in Dad's Home Marital Home Sales: When the Mortgages and Debts Exceed the Selling Price When a Party to Divorce Blogs . . . .Details of Divorce in You Tube Video Husband Required to Pay Child Support for Artificially Inseminated Child The Recession, The Housing Crisis and Divorce New York Courts Continue Trend: Same Sex Marriage Recognized Hidden Assets in Divorce: A Revealing Look Good Marriage Equals Good Blood Pressure; Bad Marriage Equals High Blood Pressure Entry of Divorce Judgment: An Occasion To Celebrate?Marital Funds Used To Pay Separate Debt Results in Claim to Recoup Same Sex Marriage - A Humorous View Divorce and Estate Planning: How To Ensure Your Estate Does Not Go to Your Estranged Spouse Educational Degrees Are Marital Assets to Be Equitably Distributed Same-Sex Marriage, Divorce and Custody Issues Adultery Does Not Have To Mean Divorce Out-Of -State Support Orders Cannot Be Modified in New York Tips to a Successful Divorce


Divorce Annulment Equitable Distribution Maintenance Alimony Agreements Child Custody Child Support Collaborative Law Pre-Nuptial Post-Nuptial Separation Equitable Distribution All marital property may be equitably distributed. Martial property is broadly defined as all property acquired by either or both parties during the marriage, but before execution of a separation agreement or the commencement of a matrimonial action. Marital property can be distributed even if it is held solely in the name of one of the parties. It is important to note that in terms of splitting martial assets, equitable does not mean equal. Assets do not have to be distributed 50/50. Statutory Provisions providing for equitable distribution of marital property In New York, a court will consider the following statutory factors when equitably distributing the marital property: a) the income and property of each party at the time of marriage and at the time of commencement of action; b) the duration of marriage and the age and health of both parties; c) the need of custodial parent to occupy or own marital residence or to use or own household effects; d) loss of inheritance rights and pension rights upon dissolution as of date of dissolution; e) any award of maintenance; f) any equitable claim to or interest in, or direct or indirect contribution to the acquisition of the marital property by the party not having title, including joint efforts or expenditures and contributions and services a spouse, parent, wage earner and homemaker and to the career or career potential of the other party; g) the liquid or non-liquid character of all marital property; h) the probable future financial circumstances of each party; i) the impossibility or difficulty of evaluating any component asset or interest in a business, corporation or profession; and the desirability of retaining the asset, or interest in the business, corporation or profession free from any claim or interference by the other party; j) the tax consequences to each party; k) the wasteful dissipation of assets by either spouse; l) any transfer or encumbrance made in contemplation of a matrimonial action without fair consideration; and m) any other factor which the Court shall expressly find to be just and proper. Examples of marital property can be equitably distributed The types of property that may be equitably distributed are endless. Common examples include: the marital home, vacation homes, automobiles, household furnishings, bank accounts, stock portfolios, pensions and retirement plans, interests in businesses and professional degrees. In New York, a party's "enhanced earning capacity" which includes the value of any degree, license or certification obtained during the marriage can be distributed Separate Property (Property that is not subject to equitable distribution) Separate property is not equitably distributed. Separate property is broadly defined as: a) property acquired before marriage or by bequest, devise, descent or gift from a party other than the spouse; b) compensation for personal injuries; c) property acquired in exchange for or the increase in value of separate property; d) any property described as separate property in a written agreement between the parties Contact Clement Law to discuss your property rights as part of an action to dissolve a marriage.