Property is classified as either separate or marital (acquired during the marriage other than by gift or inheritance) (excepting a spouse) and until the commencement of a matrimonial action or execution of a settlement agreement. Marital property is distributed equitably (not necessarily equally) between the parties, considering the circumstances of the case. There are many factors the courts consider. Some factors include, the length of the marriage, age and health of the parties, need for marital residence, loss of inheritance rights or health insurance, liquidity of assets, maintenance awarded, tax consequences, and wasteful dissipation. Each party maintains their separate property, excepting appreciation because of the other spouse’s efforts, unless they commingle it with marital property, or the property is transmuted.