Dividing Your Assets And Debts Equitably
To speak with an experienced divorce attorney, contact Philip A. Greenberg, P.C., Attorneys at Law. Located in New York City, the firm represents clients in New York and New Jersey in a wide range of property division matters, including:
- Division of pensions, 401(k)s, IRAs and other retirement and investment accounts
- Valuation and division of real estate and businesses
- Property characterization disputes (marital vs. separate property)
- Valuation of the marital home
- Commingling of marital and separate property
- Enforcement or challenge of a prenuptial or postnuptial agreement
The Property Division Process In New York And New Jersey
In New York and New Jersey, property acquired during a marriage is typically classified as marital property, with very few exceptions. Separate property is defined as property acquired by a spouse prior to a marriage and limited property acquired during a marriage, including property acquired by gift or inheritance.
All property in a dissolution is subject to court review. While a court may divide marital property on an equal basis, the concept of equitable division does not necessarily result in a 50-50 split. Courts will also consider the debts of the parties and will divide debts in an equitable fashion (once again, equitable division does not necessarily mean an even 50-50 split).
Get Premier Family Law Counsel On Your Side The First Time
Once the division of marital property is completed, it is difficult to reverse the judge’s decision. Spouses do have the option to file an appeal, but these are difficult to win. When lawyers make mistakes, the results can be costly, and the outcome may be permanent.
It is important to partner with a strong, qualified divorce attorney who can provide guidance throughout the property division process. Attorney Philip A. Greenberg has been representing clients in divorce and family law matters for more than 40 years. He is highly regarded in the legal community, having been included in the New York Metro Super Lawyers list in multiple years, a distinction limited to the top 5 percent of all matrimonial attorneys in New York.
Mr. Greenberg has represented many clients in cases involving complex property division issues, including valuation and division of a business or real property. He has also represented many clients in divorce cases in which the validity of a prenuptial or postnuptial agreement is contested. His vast experience drafting and reviewing prenuptial and postnuptial agreements is an invaluable asset in such cases.
Questions About Dividing Your Property? Contact Philip Greenberg Today.
Attorney Philip A. Greenberg represents clients in New York and New Jersey. To schedule a consultation, call 646-363-6807 or contact him by email. He can meet with you in his Manhattan office or in a location convenient to you.