Long Island and Metro New York Property Distribution Lawyers

Contested divorces often center on the division of property. Spouses in New York must decide how to divide certain marital assets, such as real estate, vehicles, and other valuables before a court will issue them a Dissolution of Marriage Certificate. If spouses cannot agree on how to distribute assets on their own, a judge will decide for them based on the state’s equitable distribution laws. 

Schlissel Ostrow Karabatos (SOK) can be an invaluable partner in your property division case. Our property distribution attorneys in New York are intimately familiar with the laws and procedures that local courts follow to divide marital property. We provide guidance and legal support throughout the process, and we will think outside the box when it comes to crafting creative solutions to complicated equitable distribution cases. When you choose to work with SOK, our team will make sure that your financial interests are fairly represented and that you have a say in how your marital estate is divided. 

Contact our office to find out how our property distribution lawyers can help you.

New York’s Property Distribution Laws

One of the first steps for dividing assets in a divorce is for each party to list out the assets owned by them individually or jointly. Any assets that are jointly owned are collectively referred to as marital property. In general, marital property includes anything that was either acquired before the marriage or comingled with marital assets after the marriage began. However, courts typically exclude gifts, inheritances, and any items protected by prenuptial and postnuptial agreements. 

Marital assets may include: 

• Residential and commercial property
• Financial accounts (bank, credit union, retirement)
• Life insurance policies
• Stocks
• Debts
• Business assets

What Is Equitable Distribution?

New York courts do not often divide assets equally, giving 50% to each party. Instead, they treat marriages as more complex financial unions—almost as if they are business arrangements. As such, the state’s laws encourage spouses to divide assets “equitably.” When deciding equitable distribution arrangements, spouses and courts should consider the value of the party, each party’s vested interest in it, its purpose, the consequences of a potential arrangement, and other facts of the marriage.

For example, a court may request evidence from both sides showing former monetary contributions made to the asset. They might also consider where the money for that contribution came from. 

Equitable Distribution in Long Island and Metro New York

Equitable distribution can significantly complicate a divorce. Fortunately, you do not have to go about it alone. Our lawyers are qualified, respected, and experienced property distribution attorneys serving Long Island and Metro New York. We take a holistic and detail-oriented approach to equitable distribution. We’ll closely assess all your marital assets, help facilitate valuations, and assist you in gathering evidence demonstrating your vested interest in your property. Our attorneys have been together for over 20 years. Each one of them is recognized by their clients, peers, and professional associations.

Our team does not shy away from taking on difficult cases involving complex or high-value assets. We all have experience in litigation, mediation, and other dispute resolution methods, and we’ll pursue whichever option gives you the greatest opportunity for the settlement you deserve. 

To discuss your case with one of our property distribution attorneys, call (516) 877-8000.