What Is DRL 234 Exclusive Occupancy of the Marital Home in New York?
Who Gets to Stay in the House During a New York Divorce? Key Takeaways: DRL § 234 lets a New York matrimonial court decide title and possession of the marital residence, including awarding one spouse exclusive use while excluding the other. Relief is sought by motion within a Supreme Court divorce action, often granted pendente […]
Who Must File a Statement of Net Worth in a New York Contested Divorce?
Understanding Financial Disclosure in a New York Divorce Key Takeaways: In a contested New York divorce where alimony, maintenance, or support is at issue, both spouses must file a sworn Statement of Net Worth, with no showing of special circumstances required. This comprehensive form details net worth, income, assets, liabilities, expenses, and assets transferred over […]
What Makes an Inheritance Vulnerable to Division in a Brooklyn Divorce?
Understanding How New York Treats Inherited Assets in a Divorce Key Takeaways: In New York, an inheritance is generally classified as separate property that stays with the recipient, but this protection is neither automatic nor permanent. An inheritance becomes vulnerable to division when commingled with marital assets, depositing it into a joint account, using it […]
Can Commingling Turn an Inheritance Into Marital Property in New York?
Understanding How a New York Inheritance Can Lose Its Protected Status Key Takeaways: Yes, commingling can transform an inheritance into marital property in New York. While inheritances begin as protected separate property, property acquired during marriage is presumed marital, placing the burden on the inheriting spouse to prove separate character. Depositing inherited funds into joint […]
Is Inheritance Marital Property in a New York Divorce?
Understanding How New York Classifies Inheritance in Divorce Key Takeaways: In most New York divorces, inheritance is treated as separate property and not divided between spouses under equitable distribution. However, this protection isn’t automatic, inheritance can lose its status through commingling with marital funds or when value increases due to a spouse’s efforts. To preserve […]
What Happens to a 401k in a Brooklyn Divorce?
How a Brooklyn Divorce Affects Your 401k and Retirement Savings If you are going through a divorce in Brooklyn and have a 401k, you are probably wondering whether your spouse can claim a share of it. The short answer is yes, in most cases. Under New York Domestic Relations Law (DRL) § 236(B)(1)(c), marital property […]
What Is Equitable Distribution in a Brooklyn Divorce?
How Property Division Works in a Brooklyn Divorce If you are considering divorce in Brooklyn, one of the most pressing questions is how your property and assets will be divided. New York is an equitable distribution state, meaning marital property is divided fairly but not necessarily equally. Under Domestic Relations Law (DRL) § 236 B(5)(c), […]
How to Address the Division of Marital Property in a New York Divorce
When a couple begins the divorce process, one primary concern is what happens to all of the assets they share. This may include the family home and its furnishings, bank accounts, retirement savings, investments, and automobiles. When getting a divorce in New York, a couple’s marital property is divided according to the concept of equitable distribution. This means the […]