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24/7/365 Emergency Hotline: 631-348-1702

If you have been arrested, or in case of an emergency, our attorneys can be reached 24 hours a day, 7 days a week, at 631-348-1702.

What is Marital Property, and Why Does it Matter?

When a married couple goes through the process of getting divorced, they will almost inevitably get involved in a debate over how to distribute their marital property. In some cases, they may not even agree on what exactly counts as marital property, for the purposes of dividing up their assets. But what exactly is marital property, and why is it so important in divorce law?

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What Should You Consider During Equitable Distribution?

Equitable distribution is the process by which a divorcing couple’s shared marital property is divided between them. This process is often complicated and emotionally fraught, with both sides struggling to get a favorable outcome to the distribution. But what should you be taking into consideration when going through equitable distribution?

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Separate Assets May Be Divided As Communal Property

Generally, in a divorce, there are communal assets and separate assets. In New York State, all assets acquired during the course of a marriage are considered communal property. This is commonly known as shared property or marital property. Separate assets refer to property that is independently owned by one spouse. Today, distinguishing between separate property and the communal property has become more complex, due to more individuals having a significant number and range of assets.

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Equitable Distribution

In New York State, the law provides for an “equitable distribution” of assets and liabilities that were accumulated throughout the duration of a marriage. The majority of the accumulated assets obtained during the marriage are considered to be marital with a few exceptions. The first step in determining equitable distribution is to evaluate the total assets and liabilities. If an individual is considering filing for divorce, it is important that he or she determines what constitutes marital and separate property as early as possible.

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Reviews

Son unos excelentes abogados resolvieron varias multas los recomiendo
I had a fantastic experience with McGuire, Peláez, Bennett & Belcastro, P.C. From the moment I walked in, the staff was professional, welcoming, and highly knowledgeable. They took the time to truly understand my case, answered all of my questions with patience, and kept me informed every step of the way.

What impressed me most was their dedication and responsiveness — I never felt like just another client. They genuinely cared about my outcome and worked diligently to achieve the best possible result. I’d highly recommend this firm to anyone seeking strong legal representation and peace of mind. You’re in excellent hands here!
I had an exceptional experience with the McGuire, Pelaez, Bennett & Belcastro law office . From the very beginning, the entire team was professional, responsive, and genuinely invested in helping me navigate my legal matter. They took the time to explain every step of the process and made sure I felt informed and supported the whole way through. I would highly recommend them!
Muy eficientes y trabajan muy rápido en el caso que tengan muy buena recomendación y servicio
They were a big help with a case I had that had been prolonged by NYC. With their help I avoided 8 points & an increase on my insurance. Can't recommend them enough, well worth the money.
Me fue bien. Trabajan muy bien. Son recomendados
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