New York Contested Divorce Lawyer Juan Luciano Explains the Difference Between Marital Property and Personal Property
New York contested divorce lawyer Juan Luciano recently posted a new blog post (https://divorcelawfirmnyc.com/new-york-contested-divorce-lawyer/) that explains the differences between marital property and personal property. The lawyer mentions that in a divorce, a spouse is not allowed to throw away any property that belonged to the other spouse. If that happens, the spouse throwing the property away may be held accountable for the discarded or squandered items.
According to the contested divorce lawyer, “In New York, we are an equitable distribution state, and any marital property is subject to equitable distribution laws. Before the divorce becomes final, your home and many of your belongings may be considered marital property and are subject to this equitable property distribution in a divorce matter.”
The lawyer says that a couple’s property can be either marital or separate property. The lawyer explained that marital property refers to property acquired by the couple during the marriage and personal property refers to things brought into the marriage by one spouse.
Additionally, attorney Juan Luciano says that if a spouse is using any marital asset for irresponsible things like gambling or frivolously spending it, that is called “dissipating” the marital estate. The offending spouse can face serious consequences for this act.
In the blog post, the lawyer explains that if one spouse has dissipated a marital asset, the court may order them to give the property back during the property division. There are also many avenues where a court may penalize property dissipation. This includes awarding the non-offending spouse a greater share of the marital property.
Aside from the aforementioned, attorney Luciano adds that many divorce attorneys advise against leaving the home before the divorce is finalized. However, this is often a hard situation for the couple. In some cases where domestic abuse is involved, it is often important to speak with an attorney before removing any property from the home.
Lastly, the divorce lawyer explains that it’s important to seek the guidance of an experienced lawyer in the midst of a contentious divorce. Having a skilled divorce lawyer may be able to help the client understand their decisions and how they will impact their case.
About Juan Luciano Divorce Lawyer
Juan Luciano has spent his career in the complex legal world of family law. He has earned a reputation for excellence at the negotiation table as well as when in court. He is also fluent in Spanish. Contact them today at (212) 537-5859 to set up an appointment for a consultation with East Village, Manhattan divorce attorney Juan Luciano.
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