Equitable Distribution of Assets
Westchester County Divorce and Separation Lawyers Ensuring Equitable Division of Assets
Protecting yourself during a divorce requires advice and representation from an attorney with an in-depth understanding of property valuation and equitable distribution litigation. In many cases, ensuring an equitable division of assets begins with accurately determining what constitutes marital property. An experienced Westchester County divorce and separation lawyer can help identify which items will be included as marital property, including assets such as pension plans, 401(K) funds, businesses, professional licenses, real estate, and certain liabilities such as loans and credit card debt.
Equitable Property Distribution Lawyers in Greater New York
Equitable distribution of marital property in a divorce applies to any assets acquired during the marriage. An attorney from Miller Zeiderman Wiederkehr & Schwarz LLP can help you determine which assets will be considered for equitable distribution and how to protect your entitlement to property during the proceedings.
Property subject to equitable distribution may include:
- Property acquired during the marriage, regardless of in whose name it is held;
- Pensions and retirement accounts, regardless of in whose name they are held;
- Businesses commenced during the marriage;
- Deferred compensation;
- Increase in value to real or personal property acquired before the marriage if the appreciation in value is due to the efforts of one or both of the parties. The pre-marital value retains its identity as separate property;
- Property received as a gift, including those received from your spouse.
Additionally, property owned by your spouse before the marriage can be considered for equitable distribution if appreciation of the value of the property was incurred through the efforts of the non-owning spouse.
Safeguarding Separate Property Regarding Professional Holdings
Pre-marital businesses are also vulnerable to claims for equitable distribution. A valid pre-nuptial or post-nuptial agreement can help eliminate or limit the threat to a pre-marital business venture in a divorce scenario. Generally, items such as inheritance, earnings from personal injury claims, and separately maintained pre-marital accounts are considered separate property and are therefore protected from equitable distribution in New York. At the law offices of Miller Zeiderman Wiederkehr & Schwarz LLP, our team of legal professionals can help you draft an agreement to describe separate property in your marriage.
Furthermore, the accomplished NYC divorce attorneys at Miller Zeiderman Wiederkehr & Schwarz LLP will assist in performing a complex financial evaluation of your professional holdings to determine their worth. If the business is awarded to one spouse, other property may be considered differently to balance and compensate for the value.
Resourceful and Versatile Westchester County Divorce and Separation Lawyer
Equitable distribution of assets is only one of the many complex matters to be considered during your divorce proceedings. If you are considering divorce or have concerns about your property in the event of a divorce, contact the law offices of Miller Zeiderman Wiederkehr & Schwarz to speak with a NYC divorce attorney today.