Equitable property division in New York may require legal help

On Behalf of | Jul 2, 2019 | Divorce |

Regardless of the financial circumstances of a New York couple in the middle of a divorce, property division will be a constant concern.

This is true if it is a high asset divorce or one of more modest means. It is also true in cases where there were prenuptial agreements or postnuptial agreements. When dealing with the concerns that accompany property division, having legal assistance is a foundational aspect of a satisfactory resolution.

When couples get married and start a life together, it is inevitable that they will accumulate various pieces of property. This can include a home, motor vehicles, collectibles and more. If the marriage fails, as they begin to determine which property belongs to whom, it is not uncommon for there to be disputes as to who gets to keep various items.

Some might be of significant monetary value, have sentimental value or both. This can spark a dispute as to where the items belong. In a best-case scenario, negotiation will be possible. Unfortunately, that is not always the case, and it is necessary to have legal assistance to be protected and to get the property the person believes should be theirs.

Assessing the marital assets is just one part of equitable property division. This process goes beyond bank accounts, a home, a car or collectibles. Retirement assets could be in dispute. There could be a business that both sides say they had a significant role in making successful. Debts are also a concern as one might have accrued the debt and the other does not want to be responsible for it.

Higher asset cases can be made more contentious if there was a prenuptial or postnuptial agreement. This can be at issue when it comes time to determine what property belongs to whom and how it should be split.

Before moving forward with the case, it is imperative to have legal assistance. A law firm that is experienced in all areas of family law including property division is key. Calling a qualified divorce lawyer can provide guidance and help to be protected and to get or retain various pieces of property. Having legal advice is a must.