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Islandia Property Division Lawyers

Protecting Your Interests & Your Assets - Call (631) 801-0007

During divorce proceedings, dividing up the couple’s assets can become highly contentious, with each spouse insisting that they deserve a greater share than the other is willing to give them. These quarrels frequently end up in the courts where a judge listens to arguments from each spouse, and then orders the assets to be divided in a certain way—not necessarily in a manner acceptable to either side. If you are facing divorce and need help with dividing assets fairly, contact the Law Office of Robert H. Montefusco for a free consultation.

Call (631) 801-0007 now or contact our firm online to get started with your case.

Division of Assets: An Overview

Under New York State law, divorcing spouses have the right to reach their own settlement about how their assets should be divided. The result of this process is a binding written agreement. When such an agreement is not possible due to a conflict between the spouses, the matter is turned over to the court. At the conclusion of a trial, the court will go about determining which assets are to be classified as marital property and which as separate property.

Marital & Separate Property

Marital property: Any businesses, personal property, securities, savings accounts, debts, and pension plans are generally placed in this category if they originated or were obtained during the period of the marriage. This property can be divided up by the courts. In some cases, this will mean liquidating the property and distributing an equitable portion of the money to each spouse.

Separate property: Any property you owned prior to the marriage will usually be ruled to be separate property, hence not subject to division. Inheritances, personal injury compensation, and gifts from third parties are also usually classified as separate property.

What Is Equitable Distribution?

New York courts follow the principle of “equitable distribution” when allocating marital assets. This does not necessarily mean that contested property is split 50/50. There are a large number of factors that the courts can take into consideration when distributing marital property.

These include the following:

  • The duration of the marriage
  • The current age of each spouse
  • The health condition of each spouse
  • The future earning potential of each spouse
  • Spousal maintenance
  • Wasteful spending or attempts to depreciate assets in anticipation of the divorce settlement
  • Post-divorce taxation issues
  • Loss of benefits as a result of the divorce (e.g., health insurance)

Some types of property, such as homes and businesses, must be carefully appraised in order to arrive at a fair evaluation of their worth. After considering all relevant factors, the court will order the distribution of assets in a manner it deems fair and reasonable.

Contact Our Firm for Your Free Consultation

At the conclusion of a trial, unless the parties settle beforehand, the court will go about determining which assets are to be classified as marital property and which as separate property. When you need a lawyer for your division of assets case, contact the Law Office of Robert H. Montefusco.

Call our firm now at (631) 801-0007 to begin planning your legal strategy.

  • You don't need a guppy, you need a Barracuda!

    “I was recommended to The Montefusco law firm by a friend who is a lawyer. He told me "You don't need a guppy, you need a Barracuda"! From the first free consultation (many years ago) to the present day, the entire staff was courteous, punctual, professional, and tolerant. I say that because I can be a tough customer to deal with, and I was never treated that way. I was always given the respect, time, and the opportunity to be heard. Hope and Monica were great on the phones, and taking down my concerns, and relaying them to Robert, Meaghan, or Maureen. I had a particularly rough time with my EX, and I was fighting for the rights of my son, and him now living with me. Robert had my back through the whole process. I am 100% satisfied with the outcome, and the entire team should take a bow! Robert always knew just what to say, and how to calm me down in moments of disbelief in the ongoing battles, and I feel I can include him in my 'inner circle' of friends. Meaghan did a great job of re-writing all of my oppositions, and even took my calls when she was at her home. And last but not least is Maureen. Maureen is a paragon. She could answer every question I had, and always gave me the respect I deserved. She and I got to know each other pretty well on the phones, and through emails. Often times I called to talk to Robert, and Maureen picked up, and helped me through my concerns. Thank you Robert, Meaghan, Maureen, Hope, and Monica! You made a really bumpy road seem navigable, and throughout the process, there was always a shining light at the end of the tunnel!”

  • Robert did everything in his power to ensure the best come for me, my kids and my future. Thanks

    “Robert did a great job on finalizing my divorce with a very difficult X Wife.”

    Rob

  • It all came true and I was very happy and relieved when it was all over.

    “I’ve already recommended him twice to people I know.”

    Judy B.

  • I am grateful for all the hard work and efforts he and his assistant, Ms Maureen Furlan, and others,who worked closely as one with me throughout my case.

    “I would highly recommend Mr. Montefusco to anyone who want excellent and qualified representation in their case.”

    Chris

  • Attorney Montefusco is absolutely the best – – Period.

    “It’s truly a privilege to be represented by an attorney I feel is the best and I never worry when Robert’s by my side.”

    Francis

  • His passion for his work is unparalleled.

    “He fought for me every step of the way.”

    Genie

  • Robert and his firm were professional effective and did not take any “BS” from the opposite side.

    “I hired Robert Montefusco not one time but two times to represent me for custody of my child Each time I was represented with a favorable outcome. Robert and his firm were professional effective and did not take any “BS” from the opposite side. In a biased court system where the fathers are immediately the underdog , Robert was able to get me a better outcome than most fathers get. For that I highly recommend the Montefusco Law firm.”

    Rob

  • Honest and trustworthy

    “Honest and trustworthy. Gave great advice and streamlined the process”

    James

  • Thanks from our hearts.

    “You were there when we felt our world was torn apart.”

    Matthew

  • He is open, honest and will not provide false promises.

    “They were exceptional in making sure conversations and milestones were communicated to me as well as very thorough in the handling of paperwork, agreement and the decree.”

    Jim

Get to Know Us

The Attorneys at The Law Office of Robert H. Montefusco Are Here to Serve You
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How to Reach Us 631.801.0007 1601 Veterans Highway, Ste 530
Islandia, NY 11749 Map & Directions [+]
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