Asset Allocation
Asset Allocation in a New York Divorce
Equitable Distribution Does Not mean a 50/50 Split
Most states, including New York, use equitable distribution in a divorce to divide marital property. While this does not necessarily entail a 50/50 split, it is based on a percentage that is “fair” – depending on the facts of the marriage. There are other states that have community property that consider all property acquired during the married to be equally owned by each spouse, splitting it 50/50 between both parties.
What Factors Will the Court Take Into Consideration?
In New York, divorcing spouses can either come to an agreement on how their assets will be distributed or leave it up to the court. If the court is left to decide how a couple’s property will be distributed, the judge will take a number of different factors into consideration – some of which may include:
- The income and assets of both spouses during the marriage
- The income and property of each spouse at the time that they filed for divorce
- The age and health of both spouses, and the length of the marriage
- The need of the custodial parent and children to live in the family home and use its effects
- Any loss of inheritance / rights to pension when the marriage is dissolved
- Any support or maintenance from one spouse to the order
When looking at what assets you want to keep after your divorce, it is important that you discuss the future value of these assets with your New York City divorce lawyer. This includes retirement accounts, real estate and business assets, as well as the tax consequences relating to these assets. This will ultimately help you to ensure you get the best results.
To learn more, schedule an initial consultation by calling (646) 663-4546.
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What a gem! Lois Brenner is the best out there by far... She got my husband and I right away. Listened, guided, let me cry, and never gave up on us during our mediation sessions. It was not easy but she made it possible. Even my husband liked her and agreed to mediate after we had lots of arguments. Thank you Lois. I already recommended you to my cardiologist. Have a happy, productive New Year.- Bernie A.
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I am a highly successful money manager and before meeting Lois Brenner, hiring a divorce attorney was a disaster. Two previous divorce attorneys really wasted my funds, and had no savvy when it came to asset and property distribution. Lois Brenner finally fixed the mess I was in. She and her team of financial experts, including attorney Matthew Ehrlich were able to prepare an asset and property distribution that was realistic, keeping in mind tax ramifications, and important distributions and allocations. They negotiated a thorough and financially sound divorce settlement. If you have a lot of assets, just any divorce attorney won’t do. You really need someone with a lot of knowledge. Lois Brenner and Matthew Ehrlich were really impressive. Thanks!!- Michael C.
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When I first decided to hire a divorce attorney, I thought a male attorney would be best. Lois Brenner really surprised me. Although she has written a divorce book on women’s rights, she is totally an advocate for men as well. She really understood how much I loved my kids, and listened and understood all the horrible things my wife was doing to destroy their relationship with me. She didn’t miss a beat and really went to bat for me. She reached out to my wife’s attorney every time my wife made any attempt to disrupt my visiting our kids and always demanded the best results. She made herself available, even when she was on vacation! Lois has been there every step of the way in these difficult circumstances. I highly recommend her.- Sam
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I just wanted to take a moment to personally thank you for the wonderful job you did mediating our separation agreement and putting this document together. You not only saved us hundreds of thousands of dollars but helped avoid what would have been a disastrous future in court. I'm grateful you did not give up on us. If I ever am involved in another situation like this, and I hope I never am, I would certainly recommend your services.- J.M.
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Going through with our divorce was very difficult time for me and my ex husband. Finding the right lawyer was very confusing, frustrating and time consuming. I was very lucky to find Lois. She is professional and human at the same time. In a few sessions she answered all of our questions, gave us great advice and filled and filed all paperwork for us. Our divorce was finalized very quickly and thanks to Lois it was very smooth process. If my best friend would need a divorce lawyer I would recommend Lois without any reservations.!!! Christina C.- Christine C.
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Lois Brenner is a remarkable attorney and compassionate advocate for dads. She guided me when I was confused and didn't know what to do to get shared custody of my daughter. She encouraged me to stay strong and to fight, and she negotiated a much better custody arrangement than my previous lawyer. What great attorney. Thank you Ms. Brenner- Christoff
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“You are extremely knowledgeable and the consummate professional.”- Ben and Jill
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I am a highly successful money manager and before meeting Lois Brenner, hiring a divorce attorney was a disaster. Two previous divorce attorneys really wasted my funds, and had no savvy when it came to asset and property distribution. Lois Brenner finally fixed the mess I was in. She and her team of financial experts, including attorney Matthew Ehrlich were able to prepare an asset and property distribution that was realistic, keeping in mind tax ramifications, and important distributions and allocations. They negotiated a thorough and financially sound divorce settlement. If you have a lot of assets, just any divorce attorney won’t do. You really need someone with a lot of knowledge. Lois Brenner and Matthew Ehrlich were really impressive. Thanks!!- Michael C.
