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Property Division During a Divorce
Property Division Lawyer Serving Queens, NY
There are a lot of things that can make even the most civil of divorce proceedings uncomfortable. Many couples hit a roadblock when it comes to the division of property and assets. At the Law Offices of Donald Mastrodomenico, P.C., we stand ready to provide our clients with outstanding representation during their time of need. We know that you may be feeling anxious when it comes to splitting real estate, funds and debt but with the guidance of our firm, you can reach an amicable resolution. A Queens divorce attorney from our team will always keep your best interests in mind and fight to help you protect your hard-earned investments.
Regardless, if you are facing a contested, uncontested or mediated divorce you will need to work with an attorney to help determine the division of assets. In most cases, unless otherwise stated in a prenuptial or postnuptial agreement, a judge will look into marital property and determine equitable distribution. All property and debt that was acquired during the marriage will be up for distribution.
In some cases, businesses may be included in distribution as well. Because of all the deciding factors that may play a role in the outcome of property distribution, it is important that you contact an attorney as soon as possible. We will fight to help you obtain a favorable outcome to your case.
How is Marital Property Divided in NY?
When a couple files for divorce, the division of property may become a factor. Deciding who gets what is a question that is very common during this process.
New York is an equitable distribution state, meaning that all marital property, including debt, is divided in a fair and equitable way. For the court to determine this, a judge may examine the following:
- What each spouse contributed to the marriage during its duration
- The length of the marriage
- The age, health, income, and potential earnings of each spouse
- Are there children involved and will they need financial support
In addition, the court may evaluate events that took place during the marriage such as inheritances, pensions, loss or gain in health insurance, and taxes. If you were to file for divorce based on fault, that would not necessarily play part in the calculation when the assets are divided. However, if one spouse has shown to be reckless with assets during the marriage, he or she may be rewarded less because of it.
Representation for Your Property Division Case
If you are considering filing for divorce or you are currently undergoing a divorce proceeding, do not hesitate to contact our firm. With the representation of our team, you can be assured that your case will be in good hands. Our trusted team has over 55 years of collective experience handling a variety of legal cases and we may be able to help you as well.
You can be confident in the Law Offices of Donald Mastrodomenico, P.C.'s ability to actively represent you and protect your best interests during a divorce.
If you have questions or concerns regarding your legal situation, do not hesitate to contact a Queens property division lawyer from our team right away.