Equitable Distribution

If you and your spouse are unable to come to an agreement regarding the fair distribution of assets, the court will oversee the process and make the final decision. Equitable distribution is the method that judges in the state of New York use to divide property during a divorce case. Property and assets will be distributed in a fair, but not necessarily equal, manner. The property will be separated according to what is considered marital and separate property.
 

A judge overseeing property division will consider many factors, including:

• Income and property of each party at the time of the marriage and at the filing for divorce

• Duration of the marriage

• Age and health of both parties

• Need of the custodial parent to occupy or own the marital residence

• Loss of inheritance and pension rights upon the dissolution of the marriage

• Any award of spousal maintenance

• Direct and indirect contributions to the acquisition of marital property

• Liquidity of marital property

• Probable future financial circumstances of each party

• Difficulty of evaluating any asset, business, or profession

• Tax consequences

• Wasteful dissipation of assets by either spouse

• Whether any assets were transferred or encumbered before the divorce action was started