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Equitable Distribution

distribution

 

When couples divorce in Binghamton, Elmira, Norwich, or elsewhere in the Southern Tier, New York State law holds that their marital property should be distributed equitably. How the assets and debts that accumulated during the marriage will be distributed is usually a highly contentious issue, and courts will not order a divorce – even a no-fault divorce – unless this issue is resolved.

Call 607-722-1520 or email info@1888law4life.com to schedule your FREE consultation with Binghamton Managing Partner Peter P. Charnetsky, Esq.

Equitable distribution does not mean assets and liabilities are equally split between spouses. Instead, equitable distribution takes into account each spouse’s financial situation to determine how much of the marital property to which he or she is entitled. Examples of factors that influence equitable distribution determinations include the marriage’s duration; how much each spouse contributed to the family; the spouse’s health and age; each spouse’s income and earning power; asset liquidity; any wasteful dissipation of assets; and any spousal maintenance obligations.

Tully Rinckey PLLC Binghamton Managing Partner Peter P. Charnetsky, Esq. has 10 years of experience as a Broome County Family County judge and 20 years of experience as a divorce lawyer. He can help you determine which property is marital property and how much of it should be yours. Call 607-722-1520 or e-mail info@1888law4life.com and schedule a initial consultation today with an experienced Binghamton divorce lawyer.

Spouses need to remember that only martial property – not separate property – is required to be equitably distributed. Here is how to differentiate the two:

  • Marital Property: Property obtained individually or jointly during the marriage with the exception of personal injury awards, third-party gifts to one spouse, and inheritances to one spouse.
  • Separate Property: Property that a spouse brought into the marriage and that was not mixed with marital property.

Don’t shortchange yourself, and find yourself divorced and with less than equitable shares of assets and liabilities. Consult with an experienced Binghamton divorce attorney. Schedule your initial consultation today by calling 607-722-1520 or e-mailing info@1888law4life.com.


Tully Rinckey PLLC’s family and matrimonial law attorneys can represent parents, spouses, siblings, grandparents, domestic partners, and other parties in Bath, Binghamton, Elmira, Ithaca, Media, Norwich, Owego, Watkins Glen, and beyond. Call today to schedule an initial consultation with one of our family and matrimonial lawyers at 607-722-1520 or e-mail info@1888law4life.com. Click here to view a video about our consultation process.

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info@1888law4life.com

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