Division of Property

New York Attorney │ Divorce │ Legal Separation

A divorce in most cases involves the distributiion of property and debt. Parties are free to make agreements regarding this distribution. In the absence of such agreements, these issues are left to the Court or Judge to decide.

Marital vs. Separate Property

Marital property is generally defined as all property acquired by the spouse during the marriage. In a divorce, parties will have to decide what marital property is going to be taken by which party and how the marital debt will be divided. Absent an agreement, the Courts will decide. This is known as equitable distribution, which does not necessarily constitute an equal division of property and debt.property

Generally, separate property under New York State Law is considered property acquired by a spouse prior to marriage, property gifted to a spouse individually and proceeds from a personal injury award. Separate property will generally not be subject to distribution.

How a Divorce Attorney Can Help

At the Law Offices of John Fazzini, our many years of experience with equitable distribution and property distribution issues gives us the know-how to handle the division of assets and debts, and to advise you as to the existing statutory and legal precedent controlling these issues. We can assist you in valuing marital assets including the appreciation in those assets, valuing marital businesses, and tracing separate assets. Attorney John Fazzini has years of experience with cases involving the value of business acquired before or after marriage, and can advise you as to your rights.

Contact the Law Office of John Fazzini, P.C.

If your divorce or legal separation involves significant marital assets, it is crucial to have competent legal counsel on your side to protect your interests. Call the Suffolk County Law Offices of John Fazzini, P.C. at 631-547-8989. We will be glad to arrange a confidential consultation with an attorney to discuss your circumstances and how our experience can make a difference in your case.