Business and Pension

Long Island’s Best Divorce Lawyer said this appeal stems from a decision of Supreme Court, Westchester County. In an action for divorce the Supreme Court awarded Plaintiff husband $17,348.80 representing his overpayment of child support, equitable distribution in the sum of $129,175 (which represented one-half of the annual business income from the parties’ insurance business), directed that the federal tax lien levied on the parties’ business was to be shared equally, and 50% of the value of Defendant wife’s pension from date of marriage to commencement of action. Defendant wife appealed.

Over the course of the marriage both parties “made significant contributions to the marriage.” Plaintiff had established an insurance agency and the Defendant worked for Westchester County. Plaintiff’s insurance license had been revoked in 1991, but the couple continued to obtain income from the insurance agency. A Nassau County Divorce Lawyer said because of these circumstances the Appellate Division affirmed the Supreme Court’s ruling as to the division of the income from the insurance agency, as well as the Defendant’s pension for purposes of equitable distribution.

Calculating the value of assets and what each party’s equitable share is during a divorce can be complex. The experienced divorce lawyers at Simonetti & Associates can assist you in securing your fair share.

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