Legal Question in Family Law in New York

Q. If you are still married and have not lived with the spouse for 5 years. I had saved money for years before i married in an account that is not joint. Before I married I had purchased a house and lived in that the house was titled in my name. I recently sold this house. Is my spouse entitled to any gain I made if this is with my own money?

A. The simple answer is yes. However, that does not mean a 50% of the money. It means that she may be entitled to equitable distribution (ED) of the money. The Court determines equitable distribution using the following factors:

(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.

Q. Also, during the marriage I purchased a storage shed business again with my saved money. My spouse was bankrupt at the time we married and did not put any money into this business. She did however, request that I put her name on the deed. Does this mean she owns 1/2 of this?

A. No. The asset would be divided under ED.

Q. If I buy another house as an investment am I the only owner of this property? What if I fixed it up and sold it...is she entitled to 1/2 of that?

A. No. The asset would be divided under ED. However, if the summons for the divorce was filed, she may not be entitled to anything.

Q. I tried the route of divorce and she won't sign anything....she is holding out for money. Any suggestions?

A. More information is needed to answer this question. In particular, did you file a summons for a divorce? Even if she won't sign anything, that does not mean that the Court would refuse to sign a Judgment of Divorce.

Mike.