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.
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!
Uncontested Divorce
In the past few months we have received a lot of phone calls from people who either attempted to file their own uncontested divorce or hired the cheapest attorney they could find to file their uncontested divorce for them. Unfortunately, these folks have found out the hard way, that mistakes in the paperwork or the filings of these uncontested types of divorce can lead to serious delays and stress. Although an uncontested divorce is not as technically challenging as a contested divorce may be, it should still be taken seriously. An uncontested divorce controls the manner in which a marriage is dissolved. Issues of child custody, child support, maintenance, and property distribution are all at stake when these divorce papers are prepared and filed. It is very important that you find a competent professional to prepare and file your divorce. Saving several months time and a lot of money that it takes to fix mistakes in the divorce process is well worth the slightly higher cost that you may pay. As always, if you have any questions or concerns, feel free to contact the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620!
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