Asset Protection During Divorce

Asset Protection Planning through Pre-nups

In New York state, assets and their division during divorce fall under equitable division. Unlike states such as California, who tend to split assets 50/50, New York divides the assets acquired during a marriage in a way that is most fair to both parties but that is not necessarily a 50/50 split. Out experienced attorneys can assist you when it comes to the division of your assets, helping you hold onto what is legally yours.

Amicable Asset Agreement

Though nothing is seemingly more counter-intuitive than discussing the dissolution of a marriage BEFORE is actually occurs, it is, by all accounts, the wisest move one could make. Statistics show that 50% of marriages end in divorce. If you can agree to a division of assets before getting married, it can oftentimes outweigh what would be handed down by the courts when it comes to deciding the division of assets.

If you are already married but wish to create a legal document of asset division, this can be done via a post-marital agreement, (post-nup), with both partners entering into the agreement with free will, without threat or pressure. Our law firm can help you draft this agreement with the experience you’d expect from one of New York’s top rate divorce firms.

Whether you are drafting a premarital (pre-nup) or post marital agreement, each partner should be represented by a different attorney to avoid a conflict of interest and protect each individual’s rights and interests. Our attorneys are experienced in both pre and post-martial agreements, and will look out for your best interest.

Separation Of Assets

Over the course of a marriage, assets may be inherited or gifted to one individual. Said individual should take the proper legal steps to document those assets, to make sure that they are not intertwined with marital property, or property that could be considered joint property of the married couple. For example, if a house is inherited by one spouse but funds from a joint account, contributed to by both spouses, are used to renovate it, the courts could take this into account. Under equitable division, it won’t necessarily mean the property is split 50/50. Rather, the courts will look at what is fair and just in the allocation, and the spouse who inherited the property may not necessarily be the one who ends up with it. Our attorneys have experience in tracing back and assessing who the property should legally belong to.