Helping You Protect Your Assets And Property During Divorce Negotiations in Rochester, NY
Throughout your marriage, both you and your spouse worked together as a team. Whether your salary or in-home contributions supported your family’s welfare, your efforts allowed your family to grow and prosper. As you pursue divorce and post-divorce actions, with the help of your Rochester property division lawyer, you deserve to get the most out of what you are entitled to receive.
New York state follows the laws of equitable distribution. This means that judges divide property based upon what is considered to be fair, not necessarily what is equal. If you want to receive what the law owes you, then you will need an experienced attorney to promote your best interests during this process.
Trotto Law Firm, P.C.: Local Law Firm Near You
New York’s divorce rate of 2.4 per 1,000 people may be lower than that of other states, but many New Yorkers seek out legal help for divorce every year. At Trotto Law Firm, P.C., founded in 2009, our legal professionals aggressively advocate on behalf of our clients in Monroe County and the surrounding counties. We are guided by our firm’s founding attorney, Jonathan Trotto, a skilled litigator and collaborative law practitioner. Under his direction, we customize our approach based on your unique circumstances.
We use our substantial legal experience and understanding of the state’s family law statues to secure beneficial terms when property and assets are divided. It is our goal to put you in a position to succeed after divorce.
While recognition and awards can never guarantee future results, our commitment to clients’ well-being and skill in asset protection has been commended nationally by Super Lawyers and locally by The Daily Record.
Marital Property vs. Separate Property
When it comes to dividing assets during a divorce, one of the most important issues is identifying marital and separate assets. This distinction directly affects what property may be divided. Marital property generally includes assets and debts acquired during the marriage, regardless of whose name appears on a title or account. Common examples of marital property include real estate, retirement contributions, bank accounts, businesses, and credit card debt.
Separate property typically belongs to one spouse alone and may not be subject to equitable distribution. This can include property owned before marriage, gifts received from third parties, and inheritances. What’s more, assets specifically listed in a valid prenup or postnup may also be protected.
However, separate property can become marital property if it is commingled with shared assets. For example, if you use separate funds to make improvements to the marital home, this can create disputes over ownership. Your Rochester property division attorney may need to enlist the assistance of a forensic accountant to show whether an asset is separate or part of the marital property.
Obtaining Favorable Property Settlements For Diverse Clientele
Throughout Rochester metro, our firm is recognized for the high-caliber service we provide to a wide range of clients. As a result, we can address a variety of property and asset concerns you may have, including:
- Distribution of valuable assets and significant wealth
- Business holdings and assets
- Investment accounts and long-term savings
- Retirement accounts and qualified domestic relations orders (QDROs)
- Complex property distribution
- Military pay, health care and retirement benefits
We serve clients in Rochester from our local office.
To schedule a consultation, call (585) 684-7947
Discussions on asset and property division not only involve equity but also debt. Drawing on Jonathan’s finance background, we can evaluate your family’s assets and liabilities so that you understand your obligations. When you are well-informed, you can make better long-term decisions.
FAQs
Q: What Assets Cannot Be Touched in a Divorce?
A: In a divorce, some assets cannot be touched when it comes time to divide property. These often include assets owned prior to marriage, inheritances, gifts given to one spouse, certain types of compensation for personal injury cases, and property specifically protected under a valid prenuptial or postnuptial agreement. Keep in mind that separate property can lose protection if you commingle it with marital assets. For example, depositing inherited funds into a joint bank account can change its status.
Q: Is My Spouse Entitled to My House if It’s Only in My Name?
A: Whether your spouse is entitled to your house depends on whether the home is considered marital property, regardless of whose name is on the title. If you owned the home before the marriage and it remained separate, your spouse may not have a claim to it. However, if marital funds were used to purchase the home, make significant renovations, or pay portions of the mortgage, your spouse may be entitled to part of its value in your property division case.
Q: What Is the Biggest Mistake You Can Make During Property Division?
A: One of the biggest mistakes you can make in the property division process is making decisions based on your emotions rather than considering your financial future and the legality of your actions. Many people rush to settle, hide assets, refuse to negotiate, or fight over property without understanding the potential long-term consequences. Failing to gather financial records, protect separate property, or understand your rights can hurt your case and cause you to make further mistakes.
Q: Is New York a 50/50 Property Division State?
A: No, New York is not a 50/50 property division state. Under Domestic Relations Law § 236, property must be divided equitably among the spouses, not equally. Courts like the Monroe County Family Court consider factors such as the length of the marriage, each spouse’s income and earning potential, contributions to the marriage, child custody, and the value of marital assets. Depending on these factors, one spouse may receive a larger share of assets.
Hire a Property Division Lawyer Today
Take an active stance during asset negotiations and hire a property division lawyer from a local law firm. Schedule a confidential, case evaluation with our Rochester property division lawyers at our Rochester office by completing our brief contact form.
