Long Island Divorce Lawyer Advises Spouses on Property Division Issues
Hauppauge and Garden City firm handles equitable distribution proceedings
Divorce doesn’t just end a personal relationship, but also breaks a financial bond that might have been in place for many years. The Long Island divorce attorneys at Tabat, Cohen, Blum, Yovino & Diesa, PC advise New York clients on the state’s equitable distribution rules and press for fair property division terms whether the marital estate is fairly simple or includes numerous complex assets. Working from offices in Garden City and Hauppauge, we use our skills and experience to pursue the best result possible in negotiations, mediations and litigation.
Seasoned advocates outline the factors used to allocate marital assets
Property that either spouse acquires once they’re married becomes part of the marital estate. This is distinguished from separate property, such assets which one party owns prior to the wedding and keeps following the divorce. Inheritances specifically left to one spouse might also be excluded from the marital property division. Assets and debts within the marital estate are subject to division when the marriage is terminated. Our Nassau and Suffolk County lawyers strive to find agreement so that both parties can emerge with what they believe is a fair share of the marital estate.
If consensus cannot be reached, equitable distribution means that the judge decides what is an appropriate allocation of assets and debts. The value does not have to be split equally. Factors that the court might consider in an equitable distribution analysis include:
- Length of the marriage
- Age and health of the spouses
- Conduct of the parties during the marriage
- Occupations and incomes of the spouses
- Employability and earning capacity of the spouses
- Need of one parent to occupy and/or own the marital residence.
- Liquid or non-liquid nature of the assets subject to equitable distribution
- Wasteful dissipation of marital assets
The level of service we provide regarding complex asset distribution often involves the expertise of forensic accountants, who dig into all assets and debts. We use the information they discover to foster an equitable distribution compromise that may allow you to retain the property you most want to keep and to protect your interests for the road ahead. Our Long Island family lawyers will vigorously represent your interests in court.
Family litigators offer sound advice on valuing and dividing complex assets
Nassau and Suffolk counties are home to some of the most successful people in the United States. Our firm is adept at handling complex property division tasks, such as the valuation of businesses, the liquidation and distribution of investments and the development of arrangements related to family homes and other real estate holdings. The more successful you and your spouse are, the more you need us. We have the skills, knowledge and experience to break down the true worth of various items and create a reasonable yet beneficial plan for our clients.
Firm handles situations involving retirement accounts
Even if you don’t plan to use an asset for decades or can’t fix an exact value on it, that property can be distributed when a marriage ends. Our firm will advise on methods of dividing the value of 401(k) accounts and other retirement plans. With our over 150 years of combined experience, we know how to identify and handle the many complexities of equitably distributing both municipal and private sector pensions, annuities, stock options, profit-sharing and other retirement plans and benefits.
Contact an effective Long Island attorney regarding equitable distribution terms
Tabat, Cohen, Blum, Yovino & Diesa, PC counsels clients on property division matters and other aspects of New York’s Domestic Relations Law. For a consultation with an experienced divorce attorney, please call 631-587-5100 or contact us online. We are located in Garden City and Hauppauge.