New York Divorce…Dividing Property.
When you divorce in New York, you divided debt and property, which was gained during the marriage, during being the key word. When you get a divorce, now not all property is considered marital property, there are certain things when dividing debt in a divorce that is not considered to be property that will be split equal in the divorce. So let’s take a look at what is considered not to be marital property in a divorce, and then we will look at how the divorce courts separate marital property in a divorce.
- First off things that you acquired before you were married are not considered to be marital property in a divorce. It is important though that you kept this property that you gained before separate from property gained while married, or it can possibly be split in the divorce, equally.
- If there is income being produced from a separate investment before the marriage, which again has not been mingled together with income from the marriage, it again can be taken in a divorce.
So here is a look at what the divorce courts and judges look at to be equally split in a divorce. There are certain things factored in to whom will get what in the divorce process.
- The income of both spouses will be looked at. It is look at before the marriage and during the marriage and what you are making after the divorce at your current job.
- How long the marriage was. Was the marriage over or fewer than 5 years before the divorce process took place?
- Both spouses health are looked at, who has the most cost in health care.
- Which parent will be the custodial and non custodial parent if children are involved in the divorce?
- If there was any loss of a pension or inheritance due to the marriage or divorce.
- If there will be any alimony after the divorce.
- Liquid and non liquid nature of the property in the divorce.
- If there are any services of either spouse as a parent homeowner or wage earner.
- They look at a future financial outlook on both spouses in the divorce.
- If either spouse gets a tax consequence.
- If either spouse did any destruction or property during the divorce or marriage.
Like I said many factors take place and are looked at in a divorce in New York on how they divide the property. I have also given this bit of advice over and over, no matter how much you think you know someone, or feel that you will never get a divorce, the things that you have before a marriage can still be enjoyed together, and a spouse should never pressure you into signing anything over, if they truly love you. Divorces can get nasty. All information in a divorce on each spouse is looked at through, account numbers, serial numbers and s