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What are the types of “marital property” divisable in a Divorce?

| May 16, 2016 | Uncategorized

There are many different types of assets – other than houses & Condos – which are valued & divided in a divorce case. I cite herein to the list as stated in the treatise “NY Law of Domestic Relations,” West Publishing by Alan Scheinkman.

Types of Assets
Real property, bank accounts, interests in businesses, bonuses, educational degrees, tax shelters, investments, jewelry, wedding gifts, personal property (including furniture), gifts exchanged between spouses, vested & unvested pension rights, vested or unvested, matured or unmatured pension rights, profit-sharing, retirement & savings plans, value of assets in a family asset protection trust, severance payment, value of “book business” of a broker, face value of insurance, frequent flyer miles and church (even if operated as non-profit).

Separate Assets/Property
Common forms of separate property are premarital property & assets, inherited property/assets, gifted property/assets (when clearly gifted to only 1 spouse) and personal injury compensation. The bottom line is that these are general rules & there are many exceptions made to the general rules. Each case is ultimately decided on its own merits and each situation brings to the table unique facts.

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