How New York divides property
New York uses equitable distribution, which aims for a fair division in light of the circumstances, not necessarily an equal one. A minority of states follow community property rules, which start from a different premise, so the state where the case is heard matters. Marital property generally includes what either spouse acquired during the marriage up to the start of the divorce action, regardless of whose name is on the title. Separate property can include assets owned before the marriage and certain inheritances and gifts, although mixing them with marital funds can change their character. Debts are divided too, and they often draw as much negotiation as the assets.
Building the inventory
List everything owned and owed: real estate, bank and brokerage accounts, retirement plans, business interests, vehicles, valuables, credit cards, and loans. For each item, find a recent statement and, where possible, records showing when and how it was acquired. Values on different dates can matter, since some assets are measured as of the filing and others closer to trial. The sworn statement of net worth in New York draws on this same information, so a complete inventory saves time later. Mark the items you believe are separate and the documents that support that view, and share the list with us.
Where the real disagreements are
Most inventories contain a handful of items that are genuinely contested and many that are not. In an early review we sort them into assets that are straightforward, assets that need valuation, and assets whose classification is disputed. That focuses cost on the questions that move the result, such as the value of a business or the treatment of a premarital account. We also talk about practical preferences, like keeping the house for the children or taking retirement funds instead of cash, and the tax effect of each choice. Many divisions are settled by agreement once the inventory is complete and the values are known.
