Division of Assets

What’s Yours Stays Yours

Division of assets during a divorce action can quickly become acrimonious if you and your spouse strongly disagree over who owns what and what type of division is fair. That’s when the courts have to step in.

Generally speaking, property is considered separate from the marital estate (and therefore yours alone) under the following conditions:

  • It was acquired before the marriage
  • Someone gave it to you as a gift
  • You inherited it
  • A prenuptial agreement excluded it from the marital estate

Property acquired during the marriage is considered part of the marital estate and subject to division and distribution during divorce proceedings. New York is an equitable distribution state, meaning that all marital assets are distributed on the basis of “fairness,” typically without regard to marital misconduct or fault. Identifying, classifying, and valuing these assets can be complex, especially if your spouse conceals money or property, or falsely asserts that a piece of marital property is his or hers alone.

At the Levoritz Law Group, we believe that no stone should be left unturned when it comes to identifying marital assets. Property that is rightly subject to division could be held under a relative’s name, hidden in a foreign country, or masquerading as a separate business. Attorneys Yonatan Levoritz, Karolina Krasnyanskaya, Evgen Tereshchenkov, and Miechia Gulley will use their experience and legal acumen to uncover hidden assets on your behalf for a proper and fair division of assets, ensuring that you leave the marriage with everything to which you are entitled.

For more information or to schedule a confidential consultation, contact us today.