718-717-1005 Equitable Distribution A Boutique Law Firm with Innovative Strategies Equitable Distribution of Assets in Brooklyn Tough, Smart Advocates Protecting Your Property Rights If you are a New York couple who is currently facing divorce, it is absolutely critical that you understand how the law will divide your property and assets during a divorce. In the state of New York, marital property is divided by a process called equitable distribution Although equitable distribution often means that you and your soon-to-be former spouse will split everything 50/50, it also means “fair,” which is completely a matter of opinion. That is why it is absolutely critical you get a Brooklyn divorce attorney in your corner who can help level the playing field and fight for your rights. At Coffinas & Lusthaus, P.C., we have a combined 50 years’ legal experience. We meticulously prepare our cases and provide sound, persuasive arguments on behalf of our clients that often lead to favorable results. Helping You to Understand the Property Division Process For couples facing divorce, the first step will be exchanging all of the information regarding their finances in a matrimonial net-worth statement that must be signed under penalty of perjury. Couples may also be required to exchange certain documents and obtain appraisals. After this exchange, there will be a three-step process that will include the following: Identification: The court will need to identify which of the property is “separate” and which is “marital.” Most often, any property that the individual acquired before the marriage will be classified as "separate" and property acquired during the course of the marriage will be “marital”; however, there are always exceptions, such as an inheritance. Valuation: The second step will be assigning a value to all assets so that the court can fairly allocate everything during distribution. There are certain assets that will be difficult to provide a concrete value for as some assets have fluctuating value (ex: stocks) and other will ebb and flow in value. Distribution: The final step will be distributing the property in a manner that the court deems to be fair. New York Domestic Relations Law §236B5 states that the court will need to consider certain factors into the final decision, such as the income / property of each party, any spousal support that is awarded, the duration of the marriage, the tax consequences, and more. Protect Your Financial Interests At our Brooklyn divorce law firm, we understand that there are many challenges involved during the division of property in a divorce case. We have the experience, skill set, and knowledge to help ensure that your best interests are protected during this process and that any distribution is indeed fair. If you would like to discuss your case or take the first step, we encourage you to contact us immediately. We are an established Brooklyn family law firm with a reputation for successfully representing individuals in regards to marital property issues throughout the five boroughs, Westchester, and Nassau counties. Ready to begin? Call us at (718) 717-1005 today. Divorce Annulment How to File No-Fault Divorce Uncontested Divorce Contested Divorce Irretrievable Breakdown & Divorce Divorce by Publication Client Testimonials “Highly recommend...sharpest, most ethical and empathetic attorney...” - Heather F. 1 / 3 More Testimonials Contact Our Team First Name Last Name Phone Email Yes, I am a potential new client No, I'm a current existing client I'm neither. Are you a new client? Message Send Meet Our Professionals Over 50 Years of Collective Legal Experience Maria Coffinas Attorney & Partner Meredith A. Lusthaus Attorney & Partner 1 / 8 Small Firm Feel. Large Firm Results. Client Focused Attention & Courteous To Your Specific Needs Proven Success Well-Respected & Recognized For Our Work Personalized Attention Customized & Effective Counsel For Your Case Experienced Nearly 50 Years' Combined Experience On Your Side 718-717-1005 186 Joralemon Street Suite 910 Brooklyn, NY 11201 Map & Directions [+] Serving All of Metro New York Since 1997 Home Attorneys Family Law Testimonials Contact Us Privacy Policy Site Map The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. © 2021 All Rights Reserved.