The good thing about having an "equitable distribution" issue in a divorce case is, it is prima facie evidence that both you and your spouse have had a "fruitful" union. There is nothing to equitably distribute in a marriage if nothing was earned in the marriage. So that is the good news. The bad news is that what is viewed as equitable to a judge might not be equitable to you and/or your spouse.
New York, unlike a state like California, is an equitable distribution state. That means that the judge will make a determination of what to do with your marital assets based on what he or she thinks is "fair." Fairness of course, is a relative term. Is it fair that one party was a stay at home parent and the other one worked outside the home for, say, 20 years, yet the judge awards both spouses a 50/50 split of the marital assets? Is it fair that a pre-nup which on its face disinherits one spouse in a long term marriage be upheld even though at the time the non-monied spouse was not represesented by counsel? Is it fair that one spouse gets to keep all the assets he or she brought to the marriage as "separate property," even though some or all of the assets have "appreciated" during the marriage?
It is difficult to say what is fair in a New York Divorce. But the one advice worth following, is thoroughly know the extent of your assets before seeking a divorce. It is the responsibility of each spouse to be intimately familiar with bank accounts, deeds, business certificates, balance sheets, taxes, stock certificates and other items that are used to determine how much your marriage is actually worth. It is no longer acceptable for one spouse (usually the wife) to say, "I have no idea about the money situation. My husband took care of that." That is inexcusable ignorance. Know what you have so that you can then assist your attorney with fighting for your "fair" share.
Marion TD Lewis is a NYC divorce attorney with offices in the financial district of Manhattan. Ms. Lewis holds degrees in Law, Education and Business. She is an entrepreneur with interests in Law, publishing and consulting. She is the author of several books and articles both on the subject of divorce and other aspects and areas of the law, and life including The Law School Rules, A summer in Brooklyn, and How Oprah Donald Trump and Jesus helped me turn a midlife crisis on its exquisite nose. Marion can be reached at marionthelawyer@aol.com or 631-922-1867.
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