Division of Assets

Fair financial outcomes start with smart legal strategy.

Dividing property in a divorce isn’t just about splitting everything in half. In New York, the court follows equitable distribution rules, meaning assets and debts are divided fairly, not necessarily equally. Understanding how property division works can help you protect your financial future and secure what is rightfully yours.

Whether you're dealing with real estate, retirement accounts, business ownership, or marital debt, The Schreck Law Group is here to protect your financial interests every step of the way.

What Is Equitable Distribution?

Equitable distribution is New York’s system for dividing marital property during a divorce. The court reviews your full financial picture and decides what is fair, based upon income, contributions to the marriage, and future needs.

Marital vs. Separate Property

Before dividing anything, the court classifies each asset as marital or separate:

Marital Property (Shared)

Any assets acquired by either spouse during the marriage, regardless of who earned or purchased them. These assets are divided during divorce and include:

• Homes and real estate

• Joint bank and retirement accounts

• Investments and stocks

• Vehicles, valuables, and shared debt

• Business ownership acquired during the marriage

Separate Property (Not Shared)

Any assets owned by one spouse before the marriage or acquired through inheritance or gifts during the marriage. Separate property is not divided, unless commingled with marital assets and include:

• Property owned before marriage

• Inheritances and gifts to one spouse

• Personal injury settlements (excluding lost wages)

• Assets protected by a prenuptial or postnuptial agreement

We’ll help you protect what’s legally yours.

Key Factors That Impact Asset Division

New York courts consider multiple factors, including:

• Length of the marriage

• Each spouse’s income and earning potential

• Contributions to the marriage (including homemaking)

• Custody of children and housing needs

• Existing debts or liabilities

• Whether one spouse wasted or hid assets

• Tax impact of asset distribution

• Each spouse’s age, health, and financial outlook

No two cases are alike. We tailor our strategy to fit your situation.

How to Protect Your Assets

If you're facing divorce, taking proactive steps can help safeguard your financial future.

• Gather key documents – tax returns, bank statements, deeds, and account records

• Keep separate assets separate – don’t mix inherited or pre-marital assets with joint funds

• Get legal help early – mistakes now can cost you later

• Consider a marital agreement – define asset terms before conflict arises

High-Asset & Complex Divorces

If you own a business, hold significant investments, or have multiple properties, you need experienced representation. We handle:

• Business valuation and division

• Executive compensation and stock options

• Investment portfolios and retirement assets

• Real estate holdings and rental income

• International and hidden assets

How The Schreck Law Group Can Help

We’ve helped clients across Long Island, Queens & Brooklyn protect what matters most.

Our divorce attorneys provide:

• Full evaluation of all marital assets and debts

• Negotiation of fair settlements

• Protection of separate and pre-marital assets

• Strategies for high-net-worth divorces

• Aggressive courtroom advocacy when needed

Visit our FAQ page for more on asset division, support, and court procedures.

Schedule Your Consultation Today

The right legal team can make the difference between starting over with stability or with financial uncertainty.

Contact The Schreck Law Group
Let us help you protect your assets and secure your future.