Best Property Division Lawyer Troy

While every divorce has its own focus and follows its own path, each divorce must address the matter of property division, and it is often the most hotly contested concern. If you’re facing a divorce, the division of your marital property is pivotal, and the best property division lawyer in Troy is standing by to help protect your financial rights in support of your post-divorce future. 

Your Marital Property

Your marital property refers to anything of value that you, your spouse, or both of you together acquired while you were married. The matter of who paid for the asset in question or whose name is on it has no bearing on your collective ownership. If you came to own it while you were married, it belongs to both of you – with very few exceptions, including:

• One of you received it as a gift in your name alone. 
• One of you received it as an inheritance in your name alone. 

This marital property must be split between the two of you fairly – given a range of applicable variables – in the event of divorce, and coming to a mutually acceptable division can prove exceptionally difficult.

Separate Property

Any property or assets that you or your divorcing spouse owns separately – and keeps separate throughout the marriage – will remain your own and will not be addressed in your property division. It’s important to note, however, that the line distinguishing separate property from marital property can be fuzzy. Consider the following:

• Most married couples don’t focus on carefully dividing separate and marital assets, which means they often intertwine (causing separate property to lose its separate nature).
• Even separate assets that are kept strictly separate are subject to the division of marital property when they increase in value over the course of the marriage (the increase in amount is considered a marital asset). A prime example is retirement accounts. 

The Factors Involved

The court is motivated to effect a fair division of property between you and your spouse, and as a result, takes many factors into consideration, including:

• The duration of your marriage
• Your and your spouse’s individual contributions to the marital estate (relative to one another)
• The age and overall physical and mental health of you and your spouse
• The standard of living you achieved as a married couple
• The financial needs and circumstances each of you will experience post-divorce
• You and your spouse’s individual earning power (based on job skills, education, work history, employment opportunities, current employment, and more)
• The general principles of fairness, given the unique circumstances involved

In other words, the division of your marital property will be utterly unique to the circumstances involved, and working with a dedicated property division lawyer is well advised. 

The Best Property Division Lawyer in Troy Can Help

The trusted property division lawyers at the Law Offices of Robbins & Licavoli in Troy focus their impressive practice on skillfully advocating for the property rights of clients like you. Don’t wait to learn more by contacting us today.