Property Division

Brooklyn Property Division Lawyers

Achieving Equitable Distribution of Marital Assets

Dividing the assets and debts that you have accumulated during your marriage is one of the most stressful and contentious parts of a divorce. At Arnel Law Firm, we work hard to find fair solutions to asset distribution through negotiations rather than through drawn-out litigation. That said, our Brooklyn property division lawyers are always trial-ready in the event that a more aggressive approach becomes necessary.

Protect Your Assets During Divorce – Property division can be complex, but you don’t have to face it alone. Contact us today at (718) 550-3024 to discuss your case and safeguard your financial future.

Understanding Marital Property Division in New York

As an “equitable distribution” state, New York requires that marital property is divided equitably (i.e., "fairly," though not necessarily equally) between the spouses in a divorce. It is important to note that property division applies to marital property only; any property acquired or inherited before your marriage will likely be considered separate property and will not be subject to division unless it was with marital property.

New York judges weigh a number of factors to determine how to arrive at an equitable distribution of property, including:

The length of the marriage
Earning power of both spouses
Separate property of both spouses
Wasteful dissipation of marital assets
Responsibility and care of any children

Factors That Affect Property Division in New York

New York follows equitable distribution laws, meaning that marital assets are divided fairly, though not necessarily equally. Several factors influence how courts determine a fair division:

Spousal Contributions – Courts consider both financial and non-financial contributions. A spouse who sacrificed their career to support the other’s education or raise children may be entitled to a larger share of assets.
Marital Debt – Just like assets, debts accumulated during the marriage are divided. Courts examine who incurred the debt and for what purpose.
Length of the Marriage – Longer marriages often lead to a more balanced division of assets, whereas shorter marriages may result in a split closer to what each spouse brought into the marriage.
Gifts & Inheritances – Generally, inheritances and gifts received by one spouse are considered separate property, but if they were mixed with marital funds, they may be subject to division.

Get in Touch with Our Brooklyn Asset Division Lawyers

At Arnel Law Firm, we can protect your interests and act as your advocate on all asset division matters. You can count on our Brooklyn property division attorneys to fight for you. We also represent clients in Manhattan and Queens.

Get the Legal Guidance You Need – Ensure a fair division of assets with the help of our experienced attorneys. Contact us now at (718) 550-3024 for a confidential consultation..

How High-Asset Divorce Affects Property Division

For couples with significant wealth, property division becomes more complex due to the variety of assets involved. Some key considerations include:

Investment Portfolios, Stocks, and Bonds – Courts assess the value of investment accounts and determine how they should be divided. This can include brokerage accounts, stock options, and mutual funds.
Real Estate Holdings – If the couple owns multiple properties, courts will evaluate their value, mortgage obligations, and rental income potential before distributing them.
Business Ownership – If one or both spouses own a business, it must be valued to determine its worth and how it should be divided or retained.
Tax Consequences – Dividing high-value assets can lead to significant tax liabilities. A proper evaluation of capital gains taxes and other financial impacts is essential.

Protecting Your Assets During Divorce

If you are concerned about securing your financial future, consider these strategies:

Keeping Separate Property Separate – Ensure that inheritances, gifts, and pre-marriage assets remain in your name and are not mixed with marital assets.
Preventing Asset Dissipation – If you suspect your spouse is recklessly spending or hiding assets, you may need legal intervention to freeze accounts or request an accounting of financial records.
Prenuptial & Postnuptial Agreements – These legal agreements clarify how assets will be divided in the event of divorce, protecting individual wealth and preventing disputes.

Financial Insights from Our Experienced Attorneys

Attorney Curt Arnel's training and work experience as a certified public accountant provide insights and an understanding of complex financial matters, particularly those faced by high net worth couples, that are unique among family lawyers.

His skills allow him to:

Value complex holdings, including real estate and retirement accounts
Determine the value of family businesses
Uncover hidden assets and deferred income
Peruse tax statements and understand financial records that affect child support, alimony, and asset division

We also have established strong relationships with many other financial professionals, including appraisers, real estate agents, pension evaluators, forensic accountants, actuaries, and more.

Frequently Asked Questions (FAQ) About Property Division in New York

What happens if my spouse and I agree on how to divide our assets?

If both spouses agree on asset division, they can create a settlement agreement outlining how property, debts, and financial accounts will be split. Once approved by the court, this agreement becomes legally binding, avoiding the need for litigation.

Can I keep my retirement accounts in a divorce?

Retirement accounts, such as 401(k)s, pensions, and IRAs, may be subject to division if contributions were made during the marriage. A Qualified Domestic Relations Order (QDRO) may be required to divide these accounts without tax penalties.

What if my spouse is hiding assets?

If you suspect your spouse is concealing assets, your attorney can work with forensic accountants to trace hidden accounts, investments, or underreported income. Courts take asset concealment seriously and may penalize the dishonest spouse.

Does fault in the divorce affect property division?

New York is a no-fault divorce state, meaning the reason for the divorce generally does not impact property division. However, if one spouse engaged in financial misconduct (e.g., excessive spending, gambling, or hiding assets), the court may consider it when distributing marital assets.

Will I be responsible for my spouse’s personal debt?

Debts accumulated before the marriage typically remain the responsibility of the person who incurred them. However, debts accumulated during the marriage—such as credit card balances, loans, or mortgages—are usually divided between both spouses.

Can I stay in the family home after the divorce?

The court may grant one spouse the right to stay in the marital home, particularly if children are involved. In some cases, the house may be sold, and the proceeds divided. If one spouse keeps the home, they may need to buy out the other’s share.

How long does property division take in a divorce?

The timeline varies depending on the complexity of the assets and whether both spouses can agree. If negotiations are smooth, the process can be resolved within a few months. If disputes arise, litigation may extend the timeline significantly.

Contact Arnel Law Firm Today

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Clients Share Their Stories

At Arnel Law Firm, We Believe in Empowering Our Clients

by equipping them with the tools, resources, knowledge, and support needed to make informed and effective decisions. Above all, we want to see your case resolved successfully. Take a look at what others have to say about their experiences working with our Brooklyn divorce law firm.

“When I left the court room that day I was so happy my blood pressure went down.”
Mr. Arnel thank you very much for your help. When I received the court paper I wanted to call someone for help, you were the first Lawyer I call. You had help me before with some child support difficulties. And when I couldn't reach you, you daughter, Lawyer Lauren Arnel answered the phone. She was very understanding and kind enough to give me your email address. The day I came to New York City for the court date, I came with a heavy heart not knowing what's going to happen. But in the court that day Lawyer Howard Gardner presented the case beautifully and ask the court for a dismissal. And the Judge had to dismiss the case with no further argument. When I left the court room that day I was so happy my blood pressure went down.
All in all, It was a team work from your Firm. Thank you again to Mrs. L. Arnel and Mr. H. Gardner.
I will always recommend you Firm to anyone who is seeking legal help.
Mr. Arnel thank you very much.

J.M.
“They are honest from the start”
Excellent law firm. I am a father/service member that was awarded primary physical custody, final decision making of my son, and my child support payments was terminated thanks to Arnel law Firm. Curt, Lauren and Howard have years of experience and will represent you like Mike Tyson in the ring. They are relentless to the very end. They were able to prove that I was the more involved parent, had my son the majority of the time ( because of the mother choices), and was able to prove the mother's statement of having our son half the time was false along with many other false statements. Also they are honest with you from the beginning in terms of letting you know whether or not your case has enough substance to move forward to a court proceeding and even if its not they will advise you in the consultation what steps you will need to take. They will not waste your or their time. Highly recommend this law firm for divorce and custody battles.

M.D.
“I could not have asked for better!”
Mr. Arnel and his daughter Ms. Lauren Arnel litigated my divorce jurisdiction dispute with complete success. I felt very confident in their advocacy of my case. Mr. Arnel is a gifted attorney; I could not have asked for better. He is highly persuasive, professional, doesn't mince words, yet gracious and gentlemanly at the same time. He inspires confidence, and the outcome proved my confidence in him was well placed.

Rachel A.
“So Attentive and Knowledgeable.”
I was extremely devastated when I reached out to the law office due to concern over a potential custody battle. I left a message and was contacted the same day and time that I was given. Curt was so attentive and knowledgeable. All of the questions I had were answered. I left the phone call feeling 100 times better than I did when I originally called. Even after asking a bunch of questions knowing that I wouldn't need his services he continued to answer questions with honest answers making it very clear how efficient he was in his field. I am very happy that I found him and honestly hope I won't have to use him in the future. However if the services are needed I would definitely pick him!

Former Client
“Open and Honest.”
If you are looking for a attorney that's very knowledgeable in his practice definitely speak with Curt Ariel. He's open and honest. Mr. Ariel answered all of my questions and I feel better about moving forward with my case.

S.D.
“Knowledgeable, Expertise, Perseverance, and understanding.”
I highly recommend and respect Mr. Curt Arnel for all of his hard work and dedication to my custody case in the past. Mr. Arnel's knowledge, expertise, perseverance, and understanding helped my father to win our case which was NOT a walk in the park. I am forever grateful for everything Mr. Arnel has done for my father and I. Because of Mr. Arnel, I was given a chance to have a great life with my father who was loving, devoted, and did everything in his power to protect and educate me and provide the best life possible. Mr. Arnel saved me from a very unfortunate situation with my mother at a very young age. Due to his amazing work ethic and determination years ago, I am a successful woman and mother today! If you are looking for an attorney who will do everything in their POWER to FIGHT for you, TRUSTWORTHY, and devote their undivided attention to you and your case, look no further....Mr. Curt Arnel will show up and show out for YOU!

M.C.
“Thank you, Mr. Arnel, for all you do and for treating me like family.”
Curt Arnel is an ethical attorney with extensive legal knowledge and compassion for his clients. Mr. Arnel will relentlessly fight to win your case, and I highly recommend him. He handled my divorce and did an excellent job throughout the process. He looks out for the interests of his client and provides encouragement and support in a very stressful process. Thank you, Mr. Arnel, for all you do and for treating me like family. I would highly recommend Mr. Arnel.

L.M.
“If you or someone you know needs a family lawyer call Curt Arnel.”
If I could give 10 stars I would. If you find yourself in the unfortunate position where you need to speak to an attorney to resolve any issues concerning your family, Curt Arnel and his team should be your only call. This is a long post. I called Mr. Arnel's office expecting to speak to a receptionist, I was wrong. Mr. Arnel answered the phone and we had a 45-minute conversation about our issue. He was so generous with his time. He answered every question I had and even brought up a few points I didn't even think of. I was blown away at how casual the conversation was. It was like I was speaking with an old friend. I never felt rushed. He explained to me how he had just resolved a similar matter and explained the whole process including numerous options to resolve the matter. My wife and I took his advice and are so thankful we did. If you or someone you know needs a family lawyer call Curt Arnel. You'll be glad you did. We are.

B.P.

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Facing a challenging divorce or family law matter in Brooklyn? Trust Arnel Law Firm's 35+ years of experience to guide you through every step.

Our dedicated team, led by attorney and CPA Curt Arnel, offers personalized solutions to protect your assets and future. Schedule your free consultation today by calling (718) 550-3024