Equitable distribution (“ED”) is the allocation of the marital estate in a divorce. Importantly, not all states are equitable distribution states; instead, states like Texas and California are community property states. The majority of states are equitable distribution states, but it is important to confirm this with a licensed attorney in the applicable jurisdiction. In way of background, property in …
The law outlines what is marital property and what is separate property. However, the issue becomes murky when separate property was the marital residence, since often the marital residence is marital property. Real property purchased prior to the marriage does not become marital property merely because it is the marital residence (meaning that the couple lives there as husband and …
In case you missed it, I was quoted in this Wall Street Journal article talking about premarital student loan debt and divorce (and admitting my law school debt load). In a marriage, everything fits into one of three buckets: separate property for each spouse and marital property. Debt also fits into one of these buckets. In New York, property and …
New York courts in a matrimonial action uses the term “equitable distribution” to describe how the assets will be divided between the two spouses. The term “equitable distribution” refers the equitable (not necessarily equal) distribution of marital assets upon a divorce. (When I tell my clients that the court divides things “equitably” not not necessarily “equally” I get a …