How does New York handle marital assets during divorce?

New York follows the principle of equitable distribution when handling marital assets during a divorce. This means that the court aims to divide marital property in a manner that is fair and just, but not necessarily equal. The determination of what is equitable takes various factors into account, such as the length of the marriage, the income and property of each spouse, the age and health of each spouse, and the contributions each has made to the marriage—financially and otherwise.

Equitable distribution applies to most assets acquired during the marriage, regardless of whose name is on the title. It is important to note that not all property is subject to division; separate property—such as assets obtained before the marriage or received as a gift or inheritance—is usually not included in this division.

This approach allows for flexibility and consideration of the unique circumstances of each marriage, contrasting with a rigid system that might simply split assets down the middle or impose other arbitrary requirements.