New York courts divide property according to a principle known as “equitable distribution.”
This doesn’t mean “equal” distribution, it means that each party will have made individual contributions to things like maintaining the home, vehicles, educating children, and other significant expenditures, as well as earning income, accruing debts, saving for retirement, and more.
At the dissolution of the union, the court will try to develop a plan that fairly distributes goods (or their value), accrued wealth, debts, and other property from the marriage among the two spouses.
In an uncontested divorce, the parties are expected to develop these plans themselves, which is sometimes too much to ask of individuals during a very emotional time.
If you need help negotiating property division with your spouse, the lawyers at Zelenitz, Shapiro & D’Agostino can help.
Call us today at 718-523-1111 for a free consultation.