Marital property can be a tough area to navigate when going through a divorce. It is important to be aware of what you are entitled to, as well as what you legally own that is safe from division. Certain things should, and are legally yours, and it is your right to know.
Anything you receive as a gift, or as part of a family legacy is legally yours. It should not belong to your spouse if it has always been solely yours. Any other property you acquired before the marriage is also legally yours. Anything that falls into these categories could possibly be considered marital property if your spouse uses them in a way that displays sufficient control. A court would have to decide what assets are marital property. A business is also something to be considered. If you are the sole owner and contributor of the business in the family, then it is not considered marital property. If your spouse contributes to the business, financially or otherwise, the business could be considered marital property.
To be preemptive about the manner, keep your assets separate. If you commingle your assets, such as money and property, part of it could go to your spouse. Separate bank accounts can help, but the best way to ensure that your divorce will go as smoothly as possible is are prenuptial and postnuptial agreements. Through these agreements, assets are clearly outlined and there is no grey area when it comes to who gets what.
Divorce’s are never pleasant situations. The last thing anybody needs is arguments over physical property. Call Simonetti and Associates today, to ensure that you get the best legal counsel and representation available.
Voted Long Island’s Best Divorce Lawyer with over 30 years of experience in Divorce, Child Custody, Adoption, Same-sex divorce, Pre- and postnuptial agreements, Father’s rights, Separation agreements, Protection orders and Meditation. To help keep your legal costs at a minimum, call (888) 429-4459