Legal Question in Family Law in New York

protecting assests during divorce

How does a wife protect herself when contemplating divorce when marital assets are only in the husband's name and the value is over 2 million (there are minor children also), some assets were acquired before marriage (17 years) and some after the marriage?


Asked on 1/17/04, 7:06 pm

5 Answers from Attorneys

Robert Evans Robert S. Evans esq.

Re: protecting assests during divorce

A competent divorce attorney is necessary in your situation. But for now please keep records of all your joint assets, your tax returns , your properties etc. As a matter of law all after acquired assets regardless of title are considered joint property and will be subject to equitable distribution. You may if you wish call my office @718-834-0087 for more info.

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Answered on 1/21/04, 1:51 pm
Stephen Loeb Law Office of Stephen R. Loeb

Re: protecting assests during divorce

She hires the best divorce lawyer she can and an experienced, competent forensic accountant who can trace all of the assets the husband has and determine whether they are attributable to the marriage or not.

Should you like to discuss this or any other legal matter, you can call my office to schedule an appointment for a consultation or in the alternative, I can be reached for on-phone low-cost legal consultation at 1-800-275-5336 x0233699.

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Answered on 1/19/04, 10:42 am
Phroska L. McAlister PHROSKA LEAKE McALISTER

Re: protecting assests during divorce

Decide ASAP what you want to do and why, with respect to your yourself, marriage and children. Obtain short term counseling, if necessary, to help you make the break.

Then proceed expeditiously to retain the professional assistance your require. Do not "telegraph" your intentions until after legal process has been started and you are clear about what will be required of you.

It is important to educate yourself about your options. That is, what you want to do after or when your marriage is over, where to live, work, school, etc.. You appeared to have spent the last 17 years of your life allowing someone else to make decisions for you; and not asking for anything for yourself to call your own. You will not be able to live like that in the future.

Request copies of all tax returns from IRS jointly filed, if any. Of course obtain specific info and copies of any and all personal or real property owned prior and after the marriage, that includes but is not limited to auto models, bank accounts, investment accounts investment property, hobby collections (coins, stamps, pens, books, etc.,) Keep info at a separate and secure location and have at least two copies.

Also, inventory your personal property. Remember that Any furs, jewelery, collections etc., that you may still have, can be included in calculating YOUR "individual" net worth. Reconstruct your marriage in writing. What did you do in the marriage, re the children, his career, the house, entertaining etc., Was the marrriage a partnership, re the labor describe it in writing.

GOOD LUCK,

PHROSKA L. McALISTER, ESQ.

GOOD LUCK,

PHROSKA L. McALISTER, ESSQ.

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Answered on 1/26/04, 4:45 pm

Re: protecting assests during divorce

The best way to protect yourself is to do nothing until you speak to an attorney who specializes in matrimonial law. This is especially true where, as in your case, the amount of assests is substantial.

My partner has being specializing in matrimonial law for over 25 years. If you wish to call him, his name is Larry Carlin and our office number is 212-622-7180.

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Answered on 1/17/04, 8:27 pm
Seth Kaufman Seth M. Kaufman

Re: protecting assests during divorce

In a divorce, all assets acquired during the marriage are considered marital property, regardless of which spouse holds title. The single most important thing you can do to protect yourself is to know exactly what the assets are and where they are held. Make copies of bank and brokerage account statements, deeds, titles, insuraance policies, etc. Make sure you have records of any cash and other valuables, as well. Feel free to call me at 212-367-9167 to discuss this further. I do not charge a fee for the initial consultation.

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Answered on 1/17/04, 8:32 pm


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