How do I divide non-marital and marital assets in a collaborative divorce?

In New York, non-marital and marital assets are divided during a collaborative divorce according to the standard of equitable distribution. Equitable distribution means that each spouse should get a fair share based on his or her contribution to the marriage. When it comes to marital assets, the court will usually take into account each spouse’s financial contributions to the marriage, such as any income, savings, and investments. Non-marital assets are usually split according to how each spouse acquired them during the marriage. For instance, if one spouse bought an asset before the marriage, then that asset usually remains his or her property after the divorce. A collaborative divorce lawyer can help you answer any questions about what is considered marital or non-marital property. Additionally, during a collaborative divorce, the couple should agree to a fair division of all assets and debts. This division can be reached through negotiation or anyone of the various dispute resolution processes that are available. For example, the couple can engage in mediation, which involves a neutral third party who provides guidance to help the couple reach an agreement. If the couple is unable to agree, the lawyers may suggest arbitration, which is similar to litigation but occurs outside of court with a neutral arbitrator. Regardless of the dispute resolution method, the court must approve any agreement before it is finalized.

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How do I divide non-marital and marital assets in a collaborative divorce?

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