Separate Property in Divorce
Not ALL Property is Divided between Spouses in a Divorce: Separate Property Remains with the Spouse.
When a couple divorces, the couple’s marital property is subject to equitable distribution. This means the property is divided between spouses according to certain legal principles. But not all of a spouse’s property is considered “marital property.” Some assets may be considered “separate property.” Separate property is not subject to equitable distribution, and therefore may remain with one spouse after a divorce.
The terms “marital property” and “separate property” are defined by New York’s Domestic Relations Law:
The term “marital property” shall mean all property acquired by either or both spouses during the marriage and before the execution of a separation agreement or the commencement of a matrimonial action, regardless of the form in which title is held, except as otherwise provided in agreement pursuant to subdivision three of this part. Marital property shall not include separate property as hereinafter defined.
The term separate property shall mean:
(1) property acquired before marriage or property acquired by bequest, devise, or descent, or gift from a party other than the spouse;
(2) compensation for personal injuries;
(3) property acquired in exchange for or the increase in value of separate property, except to the extent that such appreciation is due in part to the contributions or efforts of the other spouse;
(4) property described as separate property by written agreement of the parties pursuant to subdivision three of this part.
As a general rule, it appears that property obtained prior to a marriage, or through non-marital sources, remains separate, whereas property that is acquired during the marriage is marital property, subject to equitable distribution. But as with most areas of the law, there are exceptions. If a spouse “co-mingles” property that would otherwise be considered “separate” with “marital property,” it may be deemed marital property subject to equitable distribution. On the other hand, property that is acquired in exchange for “separate property” may be deemed “separate,” even if acquired during the marriage. Property acquired after a separation agreement or divorce proceeding is generally considered separate. Finally, prenuptial or separation agreements in which spouses agree to treat separate property as marital property are generally enforceable.
If you have questions about this or other legal matters, the Law Firm of Vaughn, Weber & Prakope, PLLC would like to assist you. Please call (516) 858-2620 to set up a free consultation with an experienced matrimonial attorney.
Separation Agreements
Separation Agreements need to be artfully drafted. Each sentence should be carefully selected. There are certain errors or omissions that can be fatal to the document’s survival. It is highly recommended that these types of agreements are drafted by or at least reviewed by an attorney. The risk of not doing so, regardless of the cost, is too great. In the last couple of days, we have seen an increased number of clients who have attempted to draft their own agreements and have come to our firm to fix them. This ends up costing more money in the long run.
We are aware that there are certain online programs that can assist you in drafting these agreements thru a data entry interface. These programs are very general and not capable of adjusting to the unique intricacies of your particular situation. Although these interfaces may be capable of pumping out a Separation Agreement in minutes, the quality is certainly declined. The validity and effectiveness of the resulting agreement is going to be questionable at best.
I understand that the economy is currently struggling and funds are hard to come by. We see it here just like every other type of business. There are certain things that need to be done correctly however. Taking shortcuts will only result in a longer and more expensive road later. So if you feel that a Separation Agreement is important to you and you would like to feel comfortable that the terms will hold up in the event that they are ever challenged; then you should seek the assistance of an attorney to draft it for you. As always, if you have any questions about Separation Agreements or Divorce in general please call (516) 858-2620 to speak with a Family Law Attorney!
Divorce vs. Separation Agreement
The difficult decision between divorce vs. separation agreement is not easy to make. Many people who are interested in terminating their marital relationship are unclear about the method of doing so. They ponder whether or not they should file for divorce or simply discuss a separation agreement with their spouse. The truth is that each case is different and what may be the best thing for you may not be the best thing for someone else. This is because some couples have severe communication difficulties which makes it nearly impossible to negotiate a separation agreement. Hiring legal counsel to negotiate these agreements may help to resolve important issues more expeditiously. Attorneys may not always be able to help the couple work out their issues however. In these cases, filing for divorce may be the only realistic way of terminating a marriage. As always, you should consult with an attorney to discuss your options in detail before making any decision on which method of matrimonial termination is best for you.
Long Island Divorce Attorneys
If you are unsure about how to terminate your marriage and you have questions, please feel free to contact us today to speak with a family lawyer at (516) 858-2620!
Many New York residents are unclear about what it takes to qualify for divorce. Putting residency requirements aside and before you get into property dispute issues, there exists a hurdle that must be met under New York law. This is to say that you need a legally acceptable reason to terminate a marriage. New York is not a state that accepts Irreconcilable Differences in its Domestic Relations Law. This has caused a great deal of controversy and has garnered much attention over the years. A March 31, 2009 article in the New York Daily News by Jose Martinez touched on how this has caused New York couples unnecessary aggravation (http://www.nydailynews.com/ny_local/state_of_shame/2009/04/01/2009-04-01_how_albany_is_divorced_from_real_world_n.html).
Domestic Relations Law in New York provides the acceptable divorce grounds to be:
1) cruel and inhuman treatment
2) abandonment for a period of 1 year or longer
3) imprisonment for a 3 year period subsequent to the date of marriage
4) adultery
5) conversion of a judgment of separation
6) conversion of a separation agreement after 1 year
Please note that New York now allows a no-fault divorce under DRL section 170(7).
Not sure if you fall into one of these categories? Call the Law Firm of Vaughn, Weber & Prakope, PLLC today at (516) 858 – 2620!
Please visit our Family Law and Divorce categories to learn more about Family Law and Divorce issues.
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