asset distribution Archives - New York Divorce Lawyer Blog

Court Discusses Property Rights in New York Divorces

Published on: May 26, 2022 | by Rudyuk Law Firm

Under New York law, when a couple divorces, any marital assets are subject to equitable distribution. In other words, the courts will allocate them in a manner they deem fair, which does not necessarily mean they will be divided equally. Separate property, on the other hand, remains the property of the spouse to whom it belongs. In some instances, however, a party may be entitled to a percentage of the increase in value of their spouse’s separate property, as demonstrated in a recent New York case. If you have questions regarding how a divorce may affect your property rights, it is advisable to speak to an experienced New York divorce lawyer as soon as possible.

History of the Case

It is alleged that the parties married in 2007 and had two children together, both of whom were born in 2010. The husband subsequently filed an action for divorce. The case proceeded to a bench trial, after which the judge entered a judgment of divorce and awarded the husband, among other things, 50% of the value of appreciation of the marital home. The wife appealed.

Property Rights in New York Divorces

The appellate court affirmed the trial court’s order with regard to its decision to grant the husband 50% of the value of the appreciation of the marital home, which was the wife’s separate property. The court explained that under Domestic Relations Law section 236, equitable distribution of assets must be based on the unique circumstances of the case in consideration of multiple statutory factors. Continue reading

Equitable Distribution in Divorce Cases

Published on: November 19, 2020 | by Rudyuk Law Firm

In many marriages, one spouse acquires or saves substantially greater assets than the other. When such marriages end in divorce, the court may grant a lesser share of marital assets to the less affluent spouse. In other words, a court’s equitable distribution of marital property does not necessarily result in an equal division but in a disposition that the court deems fit under the circumstances of the case. A court’s discretion in dividing community assets was the topic of a recent opinion issued by a New York court, in a case in which the husband’s wealth far exceeded the wife’s. If you are contemplating filing for divorce, it is advisable to speak to a seasoned New York divorce attorney to discuss what to expect in terms of equitable distribution of your marital estate.

History of the Case

It is reported that the wife filed for divorce from the husband. Due to the complexities of the marital estate, a bifurcated trial was issued to determine what constituted marital versus separate property and how any marital property should be divided. Following the trial, the court issued a judgment equitably distributing the estate and issuing spousal and child support awards. The parties both filed appeals, but the trial court’s rulings were modified but affirmed on appeal.

Employee Stock and Restricted Stock Options -How to Uncover the Hidden Assets

Published on: October 8, 2020 | by Rudyuk Law Firm

During the Pandemic, more companies are offering employees stock options and other stock awards instead of regular compensation. Such assets are not easy to uncover during a divorce process. There are certain things you can do to find out whether your spouse is hiding an employer stock plan and ensuring that you receive an equitable distribution of those assets.

It is essential to retain a divorce lawyer in NYC to help you find the hidden assets of your spouse and an expert to perform a financial analysis of them.

The following documents will help you determine whether your spouse has stock options or restricted stock options awards from his employer.