Legal Question in Family Law in New York

yes

Well, the answer is not as cookie cutter as yes or no. In New York, debt and assets are equitably distributed between the parties upon divorce. Equitable does not always equal a 50-50 split. A number of factors will be looked at, including the length of the marriage, the length of time you have contributed to the 401k, etc. Consult with a New York attorney before you do anything. My office is located on State Island. Feel free to contact me at 347-286-0226.

She is entitled to equitable distribution of the pension. Equitable distribution is defined under NY Domestic Relations Law section 236B. The statute is as follows:

d. In determining an equitable disposition of property under paragraph c, the court shall consider:

(1) the income and property of each party at the time of marriage, and at the time of the commencement of the action;

(2) the duration of the marriage and the age and health of both parties;

(3) the need of a custodial parent to occupy or own the marital residence and to use or own its household effects;

(4) the loss of inheritance and pension rights upon dissolution of the marriage as of the date of dissolution;

(5) any award of maintenance under subdivision six of this part;

(6) any equitable claim to, interest in, or direct or indirect contribution made to the acquisition of such marital property by the party not having title, including joint efforts or expenditures and contributions and services as a spouse, parent, wage earner and homemaker, and to the career or career potential of the other party;

(7) the liquid or non-liquid character of all marital property;

(8) the probable future financial circumstances of each party;

(9) the impossibility or difficulty of evaluating any component asset or any interest in a business, corporation or profession, and the economic desirability of retaining such asset or interest intact and free from any claim or interference by the other party;

(10) the tax consequences to each party;

(11) the wasteful dissipation of assets by either spouse;

(12) any transfer or encumbrance made in contemplation of a matrimonial action without fair consideration;

(13) any other factor which the court shall expressly find to be just and proper.

Mike.

I would need additional information before I could prove you with a proper response.

Basically, your wife can receive half of your pension plan.

Patricia Martin-Gibbons

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