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How will the marital property be distributed?
In New York, upon dissolution of a marriage, the Court must distribute "equitably" all "marital property" regardless of the manner in which title is held, considering the following factors:
a) the income and property of each party at the time of marriage and at the time of commencement of action; b) the duration of marriage and the age and health of both parties; c) the need of custodial parent to occupy or own marital residence or to use or own household effects; d) loss of inheritance rights and pension rights upon dissolution as of date of dissolution; e) any award of maintenance;
f) any equitable claim to or interest in, or direct or indirect contribution to the acquisition of the marital property by the party not having title, including joint efforts or expenditures and contributions and services a spouse, parent, wage earner and homemaker and to the career or career potential of the other party;
g) the liquid or non-liquid character of all marital property;
h) the probable future financial circumstances of each party; i) the impossibility or difficulty of evaluating any component asset or interest in a business, corporation or profession; and the desirability of retaining the asset, or interest in the business, corporation or profession free from any claim or interference by the other party;
j) the tax consequences to each party;
k) the wasteful dissipation of assets by either spouse; l) any transfer or encumbrance made in contemplation of a matrimonial action without fair consideration; and m) any other factor which the Court shall expressly find to be just and proper.
Updated: 11/11/99
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