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.