Information New York, Dividing Property.
Dividing Property in New York is not as tough as the divorce process *a little smile* just had to toss that in there for a smile for anyone, now a days, I think we need smiles, especially when going through a divorce, but on a serious note divorce and property division is very serious, so if you are going through a divorce you want information, and the dividing property can be pretty easy to understand, where the initial getting a divorce in New York is a toughie, so lets get you some property division information. In New York the things you gain DURING the marriage, that is your important word, is considered to be marital property in a divorce, so we are going to go through this and also give you what is not considered to be not marital property if you have handled it correctly, now remember, especially if you have not been married long, and you feel a person has married you to get an inheritance, etc, that it is so very important you keep all your paper work, even if its been a long marriage, some things commingled can be fixed in the divorce, not always but its important that you have all information on anything and everything you have for the divorce.
Here is a look at the property that should be split evenly in a divorce your marital property, and divorce courts try to split it as evenly as possibly a 50/50 unless the couples are working together, to split things, but the divorce courts will look at certain things on who gets what in he divorce and these are the things that the divorce court take into play while dividing property.
1. The income of both the spouses in the divorce, basically who can afford what.
2. How long the marriage was before the separation or divorce has taken place.
3. The overall health of each spouse comes into play, does one have more medical bills? Also the mental health, this is huge in a divorce on who gets what.
4. Which parent will have custodial and non custodial of the children in a divorce.
5. If there is any loss of inheritance in the divorce or pension.
6. Is there any alimony to be paid after the divorce.
7. If the property is liquid or non liquid in nature in this divorce.
8. The future financial outlook of both spouses in the divorce are looked at.
9. If there will be any tax consequences in the divorce, for either spouse.
10. Did any of the spouses do any damage to the property before the divorce.
These are all things divorce courts look at, so now is a look at what is considered to not be marital property in a divorce.
Ok, anything that you had before you were married, now the key words to this are not to commingle it with joint accounts or marital property. Can be things from a separate business *that brings in an income*, inheritance, investments, etc...., now you can also gain inheritance after you were married, as long as you keep everything in your name and not commingle it with marital property or accounts