What Assets Can I Keep in a Nassau County Divorce?

What Assets Can I Keep in a Nassau County Divorce?

Divorce is complicated emotionally, financially, and legally. Unfortunately, and rather obviously, both spouses cannot keep all assets in a divorce, which is why many people find themselves asking serious questions, such as “will I have to leave my house?” or “can I afford to live without a second paycheck?” Fortunately, our firm is here to be your staunch advocate, every step of the way. Please read on and reach out to our experienced Nassau County divorce firm to learn more about the legal process going forward. Here are some of the questions you may have:

What does the litigation process entail?

Contested divorces generally enter the litigation process, which is where the outcome of your divorce will ultimately be decided in front of a judge in a courtroom setting. Both you, your spouse, and your respective attorneys will state your cases, and from there, the court will subject your marital assets to equitable distribution, as well as decide on various other terms of your divorce, such as child custody.

What does the term “marital property” mean?

Marital property has to do with nearly all property you and your spouse accumulated throughout your marriage. This can include your house, retirement funds, yearly incomes, cars, and more. Nobody wants to lose what is rightfully theirs, which is why you must hire an experienced Nassau County divorce attorney who is ready to fight for your rights. That being said, you may also have separate property, such as gifts and inheritances, which are acquired outside of or before your marriage. Generally, these are exempt from divorce, however, depending on your situation, the court may make an exception. Again, do not go it alone. Our Nassau County firm has the knowledge and skill needed to achieve the best outcome possible.

How do Nassau County courts decide what assets I can keep in divorce?

Generally speaking, Nassau County courts will seek to ensure that both spouses can enjoy a reasonably similar standard of living that was established in the marriage. Therefore, they will consider various aspects of you and your spouse’s lives, including your yearly incomes, who the financially dependent spouse is, you and your spouses’ age and health, whether you have any children, who their primary caretaker is/will be, and more. If you are getting a divorce, you must speak with our Nassau County firm today.

Contact our experienced Nassau County firm

The Pollack Law Firm, P.C., rated Nassau County’s “BEST” divorce lawyers and proudly serving clients in Nassau and Suffolk County for more than 22 years, is always available to assist and represent parties in divorce, separation and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis: (516) 342-3575.

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