Buffalo Property Division Lawyers

Divorce changes everything. When you first got married, you probably never imagined you’d one day have to sit down and figure out who gets what, yet here you are, facing that very question. Property division is the legal process of deciding how a couple’s assets and liabilities will be distributed once a marriage ends. Here at Raimondo & Sundquist LLP, our seasoned Buffalo property division lawyers have decades of experience helping clients protect their hard-earned assets in divorce, and we stand ready to put that experience to work for you. Contact us today so we can get started.

Equitable Distribution in New York State

New York is what’s known as an equitable distribution state, which means the court focuses on dividing property fairly, not necessarily equally. Under New York Domestic Relations Law §236(B), judges look at a range of factors to decide what is fair in your particular situation.

It’s important to understand that marriage is treated like an economic partnership under this law. Both spouses contribute in different ways; sometimes one brings in most of the income, while the other takes care of the home, supports the family, and helps the other build a career. Courts in New York recognize these non-financial contributions as equally valuable. So, when a couple divorces, the court looks beyond paychecks and titles. It examines the whole picture.

Importantly, equitable distribution doesn’t always result in an even 50/50 split, but the goal is always fairness. Our experienced Buffalo divorce lawyers help clients build strong, fact-based cases that show exactly what “fair” looks like to them.

The Difference Between Marital and Separate Property

Before property can be divided, the court has to decide what belongs to both spouses and what belongs to just one. This is where the distinction between marital property and separate property becomes critical.

Marital property includes almost everything acquired by either spouse during the marriage, regardless of whose name is on the account, title, or deed. This can include:

• The marital home or other real estate
• Joint bank or investment accounts
• Retirement plans, pensions, and 401(k)s built during the marriage
• Business started or expanded after getting married
• Cars, furniture, and other major purchases

Separate property, on the other hand, refers to assets that belong solely to one spouse. Common examples are as follows:

• Property owned before the marriage
• Gifts or inheritances given specifically to one spouse
• Personal injury awards for pain and suffering
• Assets protected by a valid prenuptial or postnuptial agreement

However, these lines often blur. Let’s say one spouse owned a home before the marriage but used marital funds to renovate it or pay the mortgage. In this case, part of that property may now be considered marital. Or if one spouse owned a business before marriage, but the other helped it grow, the increase in value could be considered marital as well. These are the kinds of disputes that often arise in high-asset or long-term marriages.

How Courts Divide Property in New York

Once property is classified and valued, the next step is determining how it should be divided. Judges rely on a list of statutory factors under the Domestic Relations Law §236(B)(5)(d) to decide what is equitable. These factors ensure that both spouses are treated fairly, taking into account not just what happened during the marriage, but what lies ahead after the divorce. Some of the most important factors courts consider when dividing marital property are as follows:

• The income and property each spouse had at the time of marriage and at the time of divorce
• The duration of the marriage
• The age and health of both spouses
• The need of a custodial parent to remain in the family home
• The loss of inheritance or pension rights due to the divorce
• Each spouse’s contributions to the marriage, including homemaking and child-rearing
• The direct or indirect contributions of one spouse to the education or career of the other
• Any wasteful spending or transfer of property by either spouse before the divorce
• The future financial circumstances of each spouse, including earning potential
• The tax consequences of any proposed distribution
• Any other factor the court finds relevant

Contact Our Erie County Property Division Lawyers

If you’re facing divorce or simply beginning to consider it, the time to understand your rights is now. Property division can be complicated, but with the right lawyers by your side, it doesn’t have to be overwhelming. Contact Raimondo & Sundquist LLP for an initial consultation today so we can discuss your case.