Equitable Distribution Basics

New York follows equitable distribution, meaning assets are divided fairly but not necessarily 50/50. Couples can propose any split that treats both parties reasonably.

Identifying Marital vs. Separate Property

Document assets owned before the marriage, inheritances, or personal injury awards. Everything accrued during the marriage is typically marital and must be addressed.

Valuing Major Assets

Use recent appraisals, account statements, and payoff letters. Retirement plans may require Qualified Domestic Relations Orders (QDROs) to divide without tax penalties.

Handling Debts and Ongoing Obligations

Allocate mortgages, credit cards, student loans, and business debts. Include who will refinance, close accounts, or indemnify the other spouse after the divorce.