Overview
Once a court establishes the marital estate, it must value and divide marital property. New York courts apply an “equitable” standard, meaning fair distribution considering circumstances, though not necessarily a 50/50 split.
Key principle: “In New York, property is not automatically divided in half and distributed equally to each spouse.”
The 15 Statutory Factors
Courts consider these factors when determining equitable distribution:
- Income and property of each spouse at marriage and divorce
- Length of marriage, age, and health of both parties
- Custodial needs regarding marital residence and household contents
- Loss of inheritance and pension rights
- Loss of health insurance benefits
- Spousal support or maintenance awards
- Contributions to marital property without title (such as enabling earning potential)
- Liquid versus non-liquid character of assets
- Probable future financial circumstances
- Difficulty valuing certain assets like business interests
- Tax consequences to each party
- Wasteful use of marital property during divorce proceedings
- Dispositions of property below market value in anticipation of divorce
- Acts of domestic violence
- Best interest of the animal in pet possession cases
Courts may also consider “any other factor” deemed fair. When property cannot be divided physically, courts may issue “distributive awards”—monetary payments compensating for undividable property.
Valuing Complex Assets
The firm addresses complex valuations including businesses, retirement accounts, stock portfolios, real property, art, family businesses, professional practices, and other specialized assets.