In New York, the capacity for enhanced earnings is a marital asset based on the premise that all property acquired during the marriage is marital property. Professional licenses acquired during the marriage are marital property pursuant to DRL 236 (B)(1)(c) subject to equitable distribution because it is a valuable asset reflected in the enhanced earning capacity it affords to the …
Licenses, Degrees, and Professional Practices/Businesses in NY Divorce Actions
New York uniquely classifies a spouse’s enhanced earning capacity (a professional degree or license) or professional practice or business as an asset for equitable distribution purposes. In order for enhanced earning capacity or interest in a business or professional practice to be considered during equitable distribution, it must be “marital property.” For example, a license or degree is marital property …