Did you know that, according to the latest statistics from Divorce.com, the divorce rate in New York has stayed fairly consistent in recent years, making it one of the top 10 states with the lowest divorce rates, at 2.2 divorces per 1,000 residents?
Divorce can be a challenging and emotionally charged process, especially when it comes to the division of assets, because questions and tensions may arise. But what is a wife entitled to in a divorce in New York? New York law follows an equitable distribution model, which means that marital property is divided fairly, though not necessarily equally, between both spouses.
But there are factors that can affect the distribution of assets, such as the length of the marriage, the income and property of each spouse at the time of marriage and at the time of the divorce, and the contributions of each spouse to the marriage.
Here’s a comprehensive look at what a wife may be entitled to in a divorce in the state.
Marital Property Division
When dividing marital property in a New York divorce, you must consider various factors to have a fair distribution. Assets acquired during the marriage should be divided fairly but not equally. This includes real estate, bank accounts, retirement funds, businesses, and personal belongings acquired during the marriage.
The court will identify which assets are considered marital property and which are separate, which includes assets acquired during the marriage, regardless of whose name is on the title. Separate property usually consists of assets owned before marriage or received as gifts or inheritance during the marriage.
The court will evaluate various factors to determine how to divide the marital property, such as the length of the marriage, each spouse’s financial situation, contributions to the marriage, and future financial needs. By considering these factors, the court aims to achieve a fair and just distribution of marital assets.
Spousal Support
In a New York divorce, spousal support is important when addressing financial needs and obligations post-marriage. Spousal support, also known as alimony, is financial assistance from one spouse to the other spouse during or after the divorce proceedings. The purpose of spousal support is to help the dependent spouse maintain a similar standard of living enjoyed during the marriage.
Spousal support can be awarded temporarily or permanently, depending on various factors such as the length of the marriage, the income disparity between spouses, and individual financial needs. Temporary support may be granted during the process of divorce to ensure the supported spouse can cover immediate expenses. Permanent support may be awarded after the divorce is finalized and could continue for a specified duration or until certain conditions are met.
Child Custody and Support
Consider financial and custodial arrangements for your children post-divorce in New York by addressing child custody and support. When it comes to child custody, New York courts prioritize the best interests of the child.
There are two types of custody: legal custody, which involves decision-making authority, and physical custody, which determines where the child resides. Joint custody is common, allowing both parents to share decision-making responsibilities. If joint custody isn’t feasible, the court will award sole custody based on the child’s best interests.
Child support in New York is calculated using a specific formula based on the parents’ incomes. The non-custodial parent is responsible for making child support payments to the custodial parent. Child support covers expenses such as food, shelter, education, and healthcare. In cases where one parent earns significantly more than the other, child support payments ensure the child’s needs are met adequately.
Health Insurance Coverage
To have adequate health insurance coverage post-divorce in New York, both parents must carefully review their options and obligations. In New York, health insurance coverage for a spouse may continue after a divorce through COBRA (Consolidated Omnibus Budget Reconciliation Act). COBRA allows a spouse to retain coverage under their ex-partner’s employer-sponsored plan for a limited time, typically up to 36 months, as long as premiums are paid.
It’s necessary to consider other long-term solutions beyond COBRA. One option is to negotiate for health insurance coverage as part of the divorce settlement agreement. This agreement can outline who’ll be responsible for providing health insurance for the ex-spouse and children, if applicable.
Legal Fees and Costs
In New York, the issue of legal fees and costs can vary depending on the circumstances of the divorce. Generally, each party is responsible for their legal fees unless there’s a specific agreement stating otherwise but the court may order one spouse to contribute to the other’s legal fees based on factors like income disparity or the reasonableness of the legal fees incurred.
Keep detailed records of all legal expenses related to the divorce process. If you believe your spouse should be responsible for some of your legal fees, you must provide evidence to support your request. Working with your attorney to assess the reasonableness of legal fees and presenting a clear case to the court can help you secure a favorable outcome regarding legal fees and costs in your divorce proceedings.
Conclusion
In a divorce in New York, a wife is entitled to a fair division of marital property, spousal support if warranted, child custody and support arrangements, health insurance coverage, and assistance with legal fees and costs. Both parties must seek legal counsel to protect their rights and entitlements throughout the divorce process.
