New York is an “equitable distribution” state. Under New York Divorce law, marital property acquired during the marriage will be equitably divided between the spouses, based on the following factors: (1) the contribution of each spouse to the acquisition of the marital property, including the contribution of each spouse as homemaker; (2) the value of each spouse’s property at the time of the marriage and at the time of filing for divorce; (3) the probable future economic circumstances of each spouse; (4) the length of the marriage; (5) the age and health of the spouses; (6) the amount and sources of income of the spouses; (7) the present and potential earning capability of each spouse; (8) the potential loss of inheritance or pension rights upon dissolution of the marriage; (9) whether the property award is instead of or in addition to maintenance; (10) custodial provisions for the children and the need for a custodial parent to occupy the marital home; (11) the type of marital property in question (whether it is liquid or non-liquid); (12) the impossibility or difficulty of evaluating an interest in an asset such as a business, profession, or corporation and the desirability of keeping such an asset intact and free from interference by the other spouse; (13) the tax consequences to each party; (14) the wasteful dissipation of assets; (15) any transfer of property made in anticipation of divorce; (16) any equitable claim that a spouse has in marital property, including joint efforts and expenditures, and contribution and services as a spouse, parent, wage earner, and homemaker, and to the career and career potential of the other spouse; and (17) any other factor necessary to do equity and justice between the spouses. Marital fault may be considered. Financial disclosure of assets and income are mandatory. [Consolidated Laws of New York Annotated; Domestic Relations Law, Volume 8, Section 236, Part B].
for more go to:www.divorcelawinfo.com