When you are considering divorce, you may be concerned with how you and your spouse are going to split your property and your assets. Something that you might be wondering about is your separate property.
Our Rochester divorce lawyer can help you figure out what is going to be divided and what you get to keep. Please give our office a call right away. We would be happy to get you set up with a consultation.
What is Separate Property?
Generally speaking, if you owned something prior to your marriage, it is going to be considered separate. The type of property that would not be subject to division includes things like cars you had before the marriage, homes you bought under your own name prior to marriage, jewelry you bought, your clothing, furniture purchased before marriage.
If you had your things before you were married, then it is going to be yours to keep after.
What is Marital Property?
Sometimes things begin as separate property but end up as marital property. That might include something like your savings account that you had before marriage, but after you got married, your spouse started using the account as well. That would then become marital property.
Marital property also includes things that you and your spouse bought together. If you bought a home or a vehicle together, it would be subject to division.
How Do Our Assets Get Divided?
New York State is a state that follows equitable division. That essentially means that you and your spouse are going to walk away from this divorce with a division of assets that are deemed equitable. That does not necessarily mean your assets get split in half.
If you and your spouse can decide together what should happen with your assets, then you can avoid having it decided by a judge. But if you cannot agree, you are going to have to leave it up to the court.
Many people worry that their spouse is going to try to take their separate property. When that is a major concern, you should reach out to a lawyer for help.
Call Our Rochester Divorce Lawyer
If you are going through a divorce and have more questions about marital versus separate property, please give us a call right away. We can get you set up to meet with our Rochester divorce lawyer right away.
It’s important to have a strong lawyer by your side if you have concerns about the division of your assets.