Reaching Property Settlements in Divorce
LEGAL GUIDANCE FROM THE EXPERIENCED NEW YORK CITY DIVORCE LAWYERS AT STRAZZULLO LAW & ASSOCIATES, PLLC
After child custody, property division is the most contentious area in divorce. Emotional attachment to possessions can cause people to dig in their heels for a fight. That is when an experienced attorney can be the most helpful. Some things are worth fighting for… some things are not. Your goal in the process of dividing marital assets is to get your share of the property and cash, not to give it to your divorce lawyer in a long, drawn-out court case.
At the Strazzullo Law & Associates, PLLC, we help our clients clarify their goals and values so that they reach property settlement agreements they can live with. When mediation is possible, we encourage clients to use that avenue. It is less costly and less time consuming, and often results in better outcomes.
Contact a property settlement attorney at the Strazzullo Law & Associates, PLLC for a no-nonsense approach to property division.
Dividing Marital Property and Debt
The first step in property division is to document all of the family assets and to get a proper valuation. The judge will look to see that a couple has arrived at a fair and “equitable” settlement. That is not possible if you do not know the value of your assets.
For complex property, such as pension plans, a family owned business, a medical practice, of the value of an advanced degree (if one partner put the other partner through school); we work with licensed appraisers and forensic economists.
In New York, one member of a couple could have acquired property separately and, of course, a person may bring property with them into a marriage. It is the job of the property settlement attorney to ensure that these details are documented and supported by evidence.
Spousal support is often considered at the same time that property division decisions are made. These two ways to transfer money from one spouse to the other have distinctly different tax implications. You can trust that your property settlement attorney will take this into consideration when proposing a property settlement agreement or preparing a property division argument for court.
Contact the New York law office of Strazzullo Law & Associates, PLLC to schedule a free initial consultation to learn more.