Dividing property in a divorce can be one of the most stressful parts of the process. In New York, this is guided by the principle of equitable distribution—a standard that often raises questions. Unlike community property states that divide everything equally, New York law looks for what is fair, which is not always the same as an even split.
What Does Equitable Distribution Mean?
Equitable distribution means that marital property is divided fairly based on the unique facts of each case. A fair division takes into account each spouse’s contributions during the marriage as well as their financial future. One spouse may receive more or less than half, depending on these circumstances.
What Counts as Marital Property?
Marital property includes assets and debts acquired during the marriage, no matter whose name appears on the account or title. Some of the most common examples are:
- Real estate, including the family home or vacation properties
- Retirement accounts and pensions (valued based on contributions made during the marriage and projected future benefits)
- Bank accounts, investments, and stocks
- Businesses started or expanded during the marriage
- Vehicles, valuable collections, and other personal property
Both spouses typically share in these assets since New York law recognizes that contributions to a marriage are not only financial—homemaking and child care also count.
What Is Separate Property?
Certain property is considered separate and belongs only to one spouse. Separate property usually includes:
- Inheritances received individually
- Gifts made to one spouse alone
- Property owned before the marriage
- Personal injury settlements
However, separate property can become marital property if it is commingled or transmuted. For instance, placing inherited funds into a joint bank account and using them for family expenses, or retitling an asset in both spouses’ names, may turn those funds or assets into marital property.
Factors Courts Consider in Dividing Assets
When deciding how to divide marital property, New York courts consider several factors, such as:
- The length of the marriage
- Each spouse’s income and future earning ability
- Contributions to the marriage, both financial and non-financial
- Age and health of the spouses
- Which parent will have custody of the children
- Any evidence of wasteful spending or hiding assets
The overall goal is to reach a fair result that reflects both partners’ efforts and secures stability for each moving forward.
The Role of Prenuptial Agreements
Prenuptial agreements can play an important role in divorce cases. These agreements allow couples to decide in advance how assets will be treated. A valid prenup can define what stays separate, how marital assets will be divided, and how debts will be handled. Courts typically enforce them unless there is proof of fraud, coercion, or terms that are grossly unfair.
Common Misconceptions About Equitable Distribution
Divorcing couples often begin the process with misunderstandings. Some of the most frequent include:
- “Everything is split 50/50.” In New York, the standard is fairness, not automatic equality.
- “Property in my name belongs only to me.” If acquired during the marriage, it is likely marital property.
- “Separate property is always protected.” Once mixed with marital property, it may be divided.
- “Stay-at-home parents receive less.” Courts recognize child care and homemaking as valuable contributions.
Contact The Law Office of Anthony J. LoPresti
Property division in divorce requires a careful look at both the law and each family’s circumstances. At The Law Office of Anthony J. LoPresti, clients across Long Island, including Nassau County and Suffolk County, receive guidance that protects their rights and helps them secure fair outcomes under New York’s equitable distribution laws. Acting early can help preserve financial stability and protect your future.
Call (516) 252-0223 or complete the online contact form to schedule a confidential consultation.