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

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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

Absolutely a gem of an attorney. I walked into his office and explained my traffic issue to him, he understood my needs and confidently told me he’ll take care of multiple tickets. He then proceeded to do exactly that, even going to the prosecutor multiple times as he was unhappy with their initial offering.
Highly recommend this firm to anyone dealing with issues from the abysmal traffic authority of Long Island.
Recommend 100000%
A speeding ticket is always stressful specially when it is a out of state ticket. Hiring 'Daslin' to handle this speeding ticket was a great decision. She immediately jumped on my case and handled entire process/options and she also clearly explained what to expect. It was so impressive that i did not need to do anything at all and the ticket was dismissed😊😊. Thanks to her. I strongly recommend 'Daslin' for any traffic-related issue.
Chris was great, helped me with my landlord issue while being very informational and got right to business to get me back my deposit. Highly recommended !!
Great professional service. Got a swift hassle-free and great outcome as promised. Thank you to Chris and his team!
Hicieron un excelente trabajo
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