New York Sample Letter for Divorce - List of Liabilities and Assets
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How to fill out Sample Letter For Divorce - List Of Liabilities And Assets?
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FAQ
Is New York a Community Property State? New York is not community property or a ?50/50? state. New York is an equitable distribution state for property and debt. Under NY divorce law for property distribution, the court will decide how to divide property and marital debt using the state's equitable distribution laws.
New York courts must divide the marital property ?equitably.? That means fairly, considering the circumstances of the case and of the parties involved, but it does not necessarily mean ?equally.? There is no statutory requirement of a 50/50 split of marital property.
New York is an equitable distribution state. This means, during a divorce in NY, property division is handled in a way deemed ?most fair? to both sides. This is not the same as a community property state, which divides marital property split 50/50 between spouses.
This affidavit is known as the Statement of Net Worth and it's the most important document you will complete in your New York divorce. In this document you will disclose your income, assets, expenses, and outstanding debts. This document is a sworn statement, so it is very important that it is complete and accurate.
New York's equitable distribution law specifies that you are entitled to a division of all ?marital property? assets that were acquired during the marriage. With few exceptions, marital property generally includes both spouses' income, purchases made with that income, and retirement benefits.
In a NYC divorce, the wife is entitled to equitable distribution ? with is an allocation of marital assets, and depending on the case she may be entitled to spousal support (commonly called maintenance or alimony), child support, payment for attorney's fees, a share of her husband's pension and retirement accounts, ...
Home » How Long Should I Be Married To Receive Alimony In New York? There is no timeframe on that. The statute is phrased that the longer you are married, the longer the presumptive duration of maintenance that you may be entitled to claim.
Under New York's equitable distribution laws, only your ?marital property? will be divided during a divorce in NY. This means that you and your spouse will get to keep any separate property that was brought into the marriage.
