New York Divorce Lawyer Blog
Many people assume that a long-term marriage automatically results in a 50-50 division of every marital asset. In reality, New York’s equitable distribution laws require courts to focus on fairness, not mathematical equality. When disputes arise over the classification of property, retirement accounts, and each spouse’s contributions to the marriage, courts have broad discretion to craft a distribution they deem equitable under the circumstances. A recent New York ruling demonstrates how this principle operates in practice and highlights why experienced legal representation is critical when significant assets are at stake. If you are facing a divorce involving real estate, retirement accounts, or contested property claims, it is important to consult a knowledgeable New York divorce attorney as early as possible.
History of the Case
It is reported that the parties were married in 1989 and had two children who were emancipated by the time the divorce action was commenced. Allegedly, the husband filed for divorce in 2014, and the matter eventually proceeded to a nonjury trial on issues including equitable distribution of marital assets.
Allegedly, following the trial, the court determined that only 50% of the marital residence constituted marital property subject to equitable distribution. The court further awarded each party a 25% equitable interest in the residence and granted the husband 10% of the value of the wife’s retirement accounts. The husband appealed, arguing that the distribution was inequitable and that he was entitled to a greater share of the marital assets.
Equitable Distribution in New York Divorce Cases
On appeal, the court affirmed the trial court’s decision, emphasizing that trial courts possess broad discretion when distributing marital property. The court noted that equitable distribution is founded on the principle that marriage is an economic partnership in which spouses contribute in various ways, including earning income, maintaining the household, raising children, and supporting one another throughout the marriage.
The court agreed with the trial court’s determination that only half of the marital residence should be treated as marital property. Under New York law, property acquired during a marriage is presumed to be marital property unless a party can establish that all or part of it qualifies as separate property. The appellate court concluded that the wife successfully overcame that presumption and that the trial court’s findings were supported by the evidence presented at trial.
The court also upheld the award granting each party a 25% equitable interest in the marital residence. The court reiterated that equitable distribution does not require equal distribution and that courts have substantial flexibility to fashion a result that is fair under the particular circumstances of a case.
The court similarly affirmed the award granting the husband 10% of the wife’s retirement accounts. Although retirement benefits earned during a marriage generally constitute marital property, courts are not obligated to divide every asset equally. After considering the totality of the circumstances and deferring to the trial court’s credibility determinations, the court found that the distribution of the retirement assets represented a proper exercise of discretion.
Talk to a Skilled New York Divorce Attorney
If you are involved in a divorce where significant assets are at issue, Attorney Ksenia Rudyuk of RLF Family Law is a skilled New York divorce attorney who can help you protect your financial interests and advocate for an equitable resolution. Contact RLF Family Law at (212) 706-2001 or complete our online form to schedule a consultation and learn how New York law may apply to your case.