If you are considering divorce, you may be worried about how the assets you’ve accumulated during your marriage will be divided. For high-net-worth couples the issues of distributing property are particularly complex; the assets to be equitably distributed may include sophisticated assets like complex investments, real estate, closely held or family-run businesses, stock options and retirement benefits.
You are right to be concerned. You need someone with the experience and skill to give you useful and practical advice. You need an attorney who can protect your interests and guide you through the equitable distribution of property in your divorce.
Marital property is broadly defined as all property acquired by the parties, individually or jointly, from your wedding day through the date you or your spouse files for divorce or you both sign a New York separation agreement. Separate property, like inherited property, gifts from third parties to one of the parties and a personal injury recovery, is generally exempt from equitable distribution.
Marital property can be distributed even if it is held solely in the name of one of the parties. For instance, if you and your spouse purchased a home during your marriage, but put title to the property in your spouse’s name, the home will be considered marital property and distributed equitably when you divorce in New York.
It is important that you understand that when dividing marital assets as part of a divorce, equitable does not mean equal. Assets do not have to be distributed 50/50. An experienced New York family law attorney will make sure you receive your fair and equitable share of the marital assets.
“Daniel is a highly skilled professional whose experience and emotional support were key enable me navigate and successfully go through what can be a challenging and stressful process at times. I am very grateful for his prompt responsiveness always, his commitment to protecting my interests and efficiency at getting my divorce finalized. I definitely recommend.”
Daniel Clement graduated from Brooklyn Law School and the State University of New York at Albany. With over 35 years of experience, he has been a member of the New York City Bar Association and the Matrimonial Committee. In addition, he has worked as an Arbitrator in the Small Claims Court of the City of New York.
Known for his straightforward yet savvy approach to law, he specializes in multiple areas of family law including divorce, how to protect assets in a divorce, child custody, prenuptial agreements, property division, maintenance/alimony, and high net worth divorce. Clients hire Daniel for the personal attention, hard work, street smarts, and excellent value he brings to each case.
An accomplished attorney, Daniel also lectures and writes for various publications, including a blog entitled the “New York Divorce Report” and has co-authored the book, “Onward and Upward: Guide to Getting Through New York Divorce and Family Law.”