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Property Division Archives

Protecting your retirement plan is important during divorce

One of the things you may fear about your divorce is the possibility of losing your retirement savings. You've saved up for years to make sure you'll have a comfortable retirement, and the idea that your hard work was in vain is almost too much to handle. Fortunately, there are ways that you can protect your retirement.

What can I do if I’m not happy with my property valuation?

It is very common for a property owner to challenge the valuation of their property. One of the reasons for this is that the tax implications of the valuation can be dramatic. Usually as a property owner you are allowed to meet with the assessor to present your case. It is important to remember that mentioning that your taxes are too high as the basis of your argument will never help your case.

Property division rights during a New York divorce

When a couple marries in New York, it is assumed that any money or property acquired during the marriage is marital property. This means that it belongs to both parties. Any money, investments or property acquired by either person prior to the marriage is considered separate property. Certain property can be kept out of the marital property label by the couple signing a prenuptial or postnuptial agreement.

What is marital property when artists divorce?

You would probably have a difficult time finding artists who really see their creations as property. Most will think of them simply as theirs. When two artists marry and then divorce, what is considered marital property? Does each artist simply walk away with all the pieces he or she has created?

What does the Equitable Distribution Law deal with?

In New York, the Equitable Distribution Law requires that a judge divides the property from a marriage fairly. This doesn't mean that the property will be split 50/50. It means that there are two types of property recognized during a divorce: separate property and marital property. The latter is the one that will be divided up between the two spouses.

Saturday, October 21, 2017

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