Divorce and Matrimonial

Equitable Distribution of Assets and Debts

Being an equitable distribution state, New York Courts seek to ensure that there is an equitable distribution of marital assets and debts. Although often “equitable distribution” does result in a 50/50 division, equitable distribution does not legally mean 50/50 as a Court has discretion to determine what “equitable” means in each case and different types of assets can be divided in different manners and proportions. The same is true of debts incurred during a marriage, such that although often debt incurred during a marriage will be shared equally, 50/50, this is not always the case and the type of debt and how the debt was incurred must be determined before a Court can decide how to apportion responsibility for the debt.