Equitable Distribution & Asset Allocation Attorneys In Albany, NY
Before you married your spouse, it’s possible that you owned property, a business or many other types of assets. You may have also had a considerable amount of funds saved within bank accounts. Depending on whether or not you and your spouse had a pre-nuptial or post-nuptial agreement signed, factors such as equitable distribution and asset allocation become very important during the divorce process. New York is a “equitable division” state which means that you or your spouse get to keep whatever you earned during the marriage.
However, if property is owned between the both of you, things become a bit more complex. Based on a set of deciding variables, a judge will decide the fair division of property between spouses. Factors that have been used include:
- Property assets & income of each spouse at date of marriage/divorce filing
- Health & age
- Spousal Maintenance requirements (whether it’s needed or been rewarded)
- Future financial forecast for each spouse
The end game her is to make sure that the equitable distribution is a fair split between spouses. This is why it’s so important that you have an excellent lawyer at hand that specializes in making sure you get the fair split. Depending on the case or wealth of the couple seeking a divorce, we may spend anywhere from a small portion of time to an enormous stretch of research trying to determine net worth for each spouse. Our legal team at RCM Law Offices are intelligent, knowledgable and have plenty of experience making sure you get a fair allocation of assets.
