How is property divided during a divorce in New York?
Key Takeaways
- New York is an equitable distribution state.
- The spouse who makes less money may receive a larger portion of the marital property to balance the equities.
- The court can also order support in the form of alimony to help the lower-income party catch up if possible or live more comfortably if they’re unable to catch up economically.
When it comes to property division during a divorce, New York is defined as an equitable distribution state. In simple terms, the spouse who makes less money may receive a larger portion of the marital property. The goal of this is to try to bring the parties closer to an equitable division of assets (or parity).
This is reflected in spousal maintenance or spousal support (also known as alimony). Typically the higher-earning spouse pays the lower-earning spouse in order to help them become financially independent over time or maintain a similar standard of living.
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What property is divided?
New York courts only divide marital property. This is property acquired during the marriage.
Separate property obtained before the marriage typically remains with each respective spouse.
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