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NYC Property Division Lawyers

Protecting Your Marital Property: A Comprehensive Guide to Property Division in New York

As you go through a divorce in New York, one of the most critical aspects to consider is the division of marital property. The state of New York follows the principle of equitable distribution, which means that the court will divide all marital assets fairly between the parties. However, understanding what constitutes marital property, as well as the various factors that can influence the distribution of assets, can be a complex and overwhelming task. At Spodek Law Group, we are here to help you navigate this process and protect your interests throughout.

Defining Marital and Separate Property

In New York, marital property is defined as any property or assets acquired during the marriage. This includes real property, personal property, investments, cash, and bank accounts, as well as retirement accounts and other financial assets. Additionally, the state of New York also considers certain business permits and educational degrees as part of the marital estate if they were obtained during the marriage.

George FernandezGeorge Fernandez
14:16 30 Apr 24
Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.
RajRaj
21:33 24 Apr 24
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
Yelva Saint-PreuxYelva Saint-Preux
19:26 19 Apr 24
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Katherine SunKatherine Sun
18:08 18 Apr 24
my lawyer is Alex Zhik. Efficient, patient and professional
Nun yaNun ya
17:48 18 Apr 24
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Keisha ParrisKeisha Parris
20:45 15 Mar 24
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
Taïko BeautyTaïko Beauty
16:26 15 Mar 24
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
K MarK Mar
01:37 25 Jan 24
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.
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On the other hand, separate property is anything that was owned or received before getting married, as well as any inheritances or gifts received during the marriage. Separate property can also include assets that were acquired in exchange for separate property, as well as any appreciation on separate property that occurred during the marriage. In general, separate property is not subject to division in the divorce proceedings.

Understanding Equitable Distribution

When dividing marital property, the court will take into consideration various factors, such as the length of the marriage, the income and earning potential of each spouse, and the contributions of each spouse in acquiring the property. While equitable distribution does not necessarily mean a 50/50 split, it does aim to achieve a fair and just division of assets. At Spodek Law Group, we have experience working with clients to ensure that their contributions to the marriage are recognized and that the division of assets is equitable.

Business and Professional Practices

If one spouse owned a business or professional practice prior to the marriage, it may be considered separate property and not subject to division. However, if there was appreciation during the marriage, it may be considered marital property if the other spouse made contributions that led to the appreciation. In cases where both spouses contributed to the business or professional practice during the marriage, it will likely be considered marital property and divided equally between the parties. At Spodek Law Group, we can help you navigate the complexities of dividing business and professional assets in your divorce.

Navigating the complexities of marital property division during a divorce can be an overwhelming task, which is why it’s essential to consult a seasoned divorce and property division lawyer in NYC. At Spodek Law Group, our team of legal experts is here to guide you through the process and help you understand your rights and options. We have experience working with clients to protect their interests and ensure a fair and just distribution of assets.

Contact Us Today

Consulting a skilled divorce and property division lawyer in NYC is crucial in ensuring that your rights and best interests are protected throughout the process. Contact us today to schedule a no-obligation consultation and take the first step towards resolving your property division matters. At Spodek Law Group, we are dedicated to helping you achieve a favorable outcome and move forward with confidence.

Facts and Figures:

  • In New York, the principle of equitable distribution is used to divide marital property in a divorce.
  • Marital property includes any property or assets acquired during the marriage, while separate property is anything owned or received before the marriage, as well as any inheritances or gifts received during the marriage.
  • Business and professional practices may be considered marital property if they were acquired or appreciated during the marriage, and will be divided equitably between the parties.

A judge will take into account various factors when determining an equitable distribution of assets, including the length of the marriage, the income and earning potential of each spouse, and the contributions of each spouse in acquiring the property.

The state of New York also considers certain business permits and educational degrees as part of the marital estate if they were obtained during the marriage.
Separate property is not subject to division in the divorce proceedings.
Consulting a skilled divorce and property division lawyer in NYC is crucial in ensuring that your rights and best interests are protected throughout the process.
At Spodek Law Group, we have a track record of success in helping clients navigate the complexities of property division in a divorce. Our team of legal experts has a deep understanding of New York’s marital property laws and the equitable distribution process, and we are dedicated to helping you achieve a fair and just outcome.

Spousal Maintenance and Child Support

In addition to property division, spousal maintenance and child support are also critical components of a divorce in New York. Spousal maintenance, also known as alimony, is financial support paid by one spouse to the other following a divorce. The court will take into consideration various factors, such as the length of the marriage, the income and earning potential of each spouse, and the contributions of each spouse in determining whether spousal maintenance is appropriate.

Child support, on the other hand, is financial support paid by one parent to the other to help cover the costs of raising a child. The court will consider factors such as the income and earning potential of each parent, the child’s needs, and any special circumstances when determining child support payments. At Spodek Law Group, we have extensive experience helping clients navigate the complexities of spousal maintenance and child support and ensuring that their rights and interests are protected.

Dissipation of Marital Assets

In some cases, one spouse may attempt to waste or misuse marital assets without the knowledge of the other. This is known as the dissipation of marital assets and can be a critical issue in property division proceedings. The court will take into account any dissipation of assets when determining an equitable distribution of property, and may even award additional compensation to the innocent spouse. At Spodek Law Group, we have experience helping clients protect their assets from dissipation and ensuring that their rights are protected.

Contact Us Today

As you go through a divorce in New York, it’s critical to have a seasoned and expert divorce and property division lawyer by your side to protect your rights and assets. At Spodek Law Group, we are committed to providing our clients with the highest level of legal representation and guidance throughout the process. Contact us today to schedule a consultation and take the first step towards achieving a favorable outcome.

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