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

Posted 5 months ago. Applies to New York, 1 helpful vote

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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.

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Types of Assets

Real property, bank accounts, interests in businesses, bonuses, educational degrees, tax shelters, investments, jewlery, wedding gifts, personal property (including furniture), gifts exchanged bwteeen 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).

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Seperate 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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Related Topics

Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

Dividing Separate Property in Divorce

Separate property generally refers to property that is acquired before marriage. However, gifts and inheritances are also separate property.

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