The New York Court of Appeals, the highest court in the State of New York, has determined that deferred employment income and compensation such as a pension and 401Ks and valuable assets such as law degrees and medical degrees and other “intangibles” earned during the course of a marriage are marital property. As marital property, such deferred compensation and intangible marital property must be valued and considered as part of the entire equitable distribution of marital assets. The same legal principles could apply to the value of a business that was started and appreciated during the course of a marriage in which a spouse owns or has an interest.
You may need appraisers, pension experts and accountants to value certain marital property. We can retain experts to provide expert or special analysis when needed.
If you are involved in a divorce with special, unique or complex issues involving the enhanced earning capacity of your spouse because of a license or degree obtained by your spouse during the course of your marriage, you can call the Law Office of Jerold Slate at (845) 471-4141 to arrange for a personal and confidential consultation.
Separate Property Includes:
1. Property acquired before marriage or property acquired by inheritance.
2. Property acquired as a gift by one spouse from someone other than your spouse.
3. Compensations for personal injuries.
4. Property described as separate property pursuant to a prenuptial agreement.
5. Property acquired in exchange for or the increase in value of separate property, except to the extent that such appreciation in the value of the property is due in part to the contributions or efforts of the other spouse.
It is not unusual that the determination of what is marital property and what is separate property and the value and the equitable distribution of property can become complex and disputed. You will then need your lawyer and sometimes appraisers and other experts to help reach a fair and equitable resolution. As an experienced and skillful divorce attorney I will see to it that you obtain a fair, just and equitable result.
Consult With A Lawyer
If you have issues or have a dispute about the division or distribution of marital property or what is marital property and what is separate property you can call the Law Office of Jerold Slate at (845) 471-4141 to arrange a personal and confidential consultation.
Marital Property That You Might Not Think is Marital Property
