Divorce Marital Assets
Divorce can present a very complicated situation legally. When it comes to assets, it can be hard to figure out how to split them between the two members of the couple. In the cases of amicable divorces, people can usually figure this out on their own, but if the divorce is contentious, it is usually a different matter. In these situations, people will need to go to the law to figure out who has the right to what assets. In many cases, it would be good to find a divorce lawyer Brooklyn has to offer in order to help you.
There are certain assets that would be considered separate property in the event of a divorce. These include anything that was acquired by either person before the marriage or that was given to him or her as a gift or an inheritance during the marriage. Any other property that was acquired during the marriage would be considered marital assets, however. This is true regardless of which person holds the title to the property or owns it in name.
Marital assets include any income and assets that were acquired by either of the people involved in the marriage, and this includes:
- pension plans
- retirement plans such as IRAs
- stock options
- deferred compensation
- equity such as restricted stocks
- life insurance
- all bank accounts
- tax refunds
In addition, any pieces of artwork or other valuable assets that were bought together as a couple would be considered marital assets, rather than assets that belong to one or the other person. As difficult as it may be to part with things that are valuable to you, the law will have the final say in situations where two people are fighting over an asset.
Our attorneys have enough expertise and experience on divorce marital assets to be able to answer any questions you might have and help you through the situation in the best way possible.