What is an equitable distribution of assets?

An equitable distribution of assets in a collaborative divorce in New York is a process whereby marital assets are split in a fair and reasonable manner between the two spouses. This is in contrast with a legal process such as litigation, which can be more adversarial and costly. An equitable distribution is based on the idea of fairness. In New York, marital assets are a shared resource between both spouses, and thus should be fairly divided. The court considers a variety of factors in determining an equitable distribution, such as the length of the marriage, the financial contributions of each party to the marriage, and any prenuptial agreements. The court may also consider the age, health, and income of each party, as well as any premarital property. In a collaborative divorce in New York, an equitable distribution is determined through negotiation between the two spouses and/or their legal representatives. This process can be time consuming and costly, but is still a better alternative to litigation. The negotiated terms are then agreed upon by both parties, and binding to them both. The court ultimately makes the final decision regarding an equitable distribution of assets at the conclusion of the collaborative process. This ensures that the division of assets is based on the facts of the situation and the law, and is fair and equitable to both parties.

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