Ella Royzman PLLC | New York City Matrimonial and Family Law Firm
  • ABOUT
  • Attorney
  • Practice Areas
    • Divorce
    • Equitable Distribution
    • Child Custody and Parenting Time
    • Child Support and Paternity
    • Spousal Support
    • Negotiation and Litigation
    • Separations
    • Relocation Petitions
    • Pre-nuptial / Post-nuptial / Cohabitation Agreements
    • Grandparent Rights
    • Orders of Protection / Family Offense Petitions
    • Post-Judgment Actions and Amended Agreements
    • Jurisdictional Disputes
  • Resourses
  • Contact Us

Equitable Distribution

New York state is an equitable distribution state. Equitable distribution does not mean fifty-fifty split. There are a number of factors that the court will consider in a divorce to divide the assets and debts equitably. Generally some of the things that effect equitable distribution are marital agreements, when and how the assets or debts where acquired, is the property separate or marital, age, health and needs of the parties.

Equitable distribution can be broken out into three steps. Step one is classification, here a decision is made if the whole or part of an asset or debt is marital or separate. Step two is valuation,  the marital portion of the assets need to be valued. Step three is distribution, this is where the assets and debts are distributed equitably to the spouses.

In a divorce we learn about the assets, debts, income and expenses that our client and their spouse have.  When we consult with our clients we carefully listen to best understand what is important to them and what their goals are. After we collect this information, we are able to advise our client and work toward resolving their case. Each asset, debt, income and expense source will need to be addressed individually and as a collective.


Assets

 There is a variety of things that can be classified as assets when it relates to a divorce. Here are the ones that are most common:
  • Real Estate
  • Business Interests
  • Professional Practice
  • Savings and Checking Accounts
  • Retirement Assets - Defined Benefit and Defined Contribution
  • Brokerage Accounts
  • Securities
  • Art / Jewelry / Collectibles
  • Annuities and Life Insurance Policies
  • Intellectual Property / Trademarks
  • Health Savings Accounts (HSA) / Flexible Spending Account (FSA)
  • Restricted Stock Units (RSU) / Employee Stock Options (ESO) /  Restricted Stock
  • Trusts
  • Educational Savings Accounts (529 Savings accounts)
  • Automobiles / Boats / Motorcycles
  • Cryptocurrency and NFT (non-fungible tokens)
  • Capital Loss Carryover
  • Loans - Money or goods lent to others

Debts

Like assets there are many types of debts that can be acquired during a marriage. Here are some examples:
  • Mortgages
  • Equity Lines of Credit
  • Personal Lines of Credit
  • Credit Card Debt
  • Liens
  • Car loans
  • Lease Obligations
  • School Loans
  • Business Lines of Credit
  • Money Owed to Friends and Family

Sources of Income

People have a number of ways to earn money to pay for their expenses and create wealth. Here are the most common examples:
  • Compensation / Job / Bonus
  • Business Interests
  • Investment Property
  • Stock Options
  • Dividends
  • Royalties
  • Annuities
  • Pensions
  • Social Security
  • Disability Benefits
  • Trusts

Expenses

We will just list some of the more important ones:
  • Mortgage / Rent
  • Property Maintenance and Taxes
  • Utilities
  • Food
  • Car Payments and Repairs
  • insurance - Health / Car / Home
  • Phone
  • Vacations
  • Clothing
  • Dinning Out, Travel and Entertainment
  • Out of Pocket Medical / Vision / Dental
  • Baby Sitting
  • School / College
  • Children's Extra Curricular
  • Debt Payments

Attorney Advertising:

This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

Contact Us

Ella Royzman, PLLC
1022 Avenue P, Brooklyn, NY 11223
Tel: 718-645-6030
Tel: 212-661-1444

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© Copyright 2002 - 2022 Ella Royzman, PLLC
  • ABOUT
  • Attorney
  • Practice Areas
    • Divorce
    • Equitable Distribution
    • Child Custody and Parenting Time
    • Child Support and Paternity
    • Spousal Support
    • Negotiation and Litigation
    • Separations
    • Relocation Petitions
    • Pre-nuptial / Post-nuptial / Cohabitation Agreements
    • Grandparent Rights
    • Orders of Protection / Family Offense Petitions
    • Post-Judgment Actions and Amended Agreements
    • Jurisdictional Disputes
  • Resourses
  • Contact Us