millebobby
1 post
Nov 18, 2024
11:01 PM
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New York State's marital property laws outline the distribution of assets and debts acquired during marriage, subject to equitable distribution upon divorce. This includes real estate, personal property, financial assets, retirement accounts, businesses, intellectual property, and debts. Marital property can be classified as joint, separate, or mixed property. Exceptions include gifts, inheritance, property acquired before marriage, and property designated as separate in a written agreement. The distribution process involves identifying, valuing, and determining equitable distribution. Common issues include hidden assets, unequal contributions, and New York State Divorce Laws Marital Property. Protecting marital property involves prenuptial agreements and asset protection trusts.
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