Asset Protection
Marriage can be wonderful, but it can also present challenges. This is true when dealing with the various individual aspects of the marriage and separation divorce process, particularly the division of assets and debts. When you turn to Randi L. Karmel, PLLC, you will be getting assistance from a fierce client advocate who has extensive experience handling complex property division cases. Attorney Randi Karmel is the asset protection attorney in New York City that you need by your side. She will work with you to develop pre-and post-nuptial agreements and will certainly stand by your side if you are going through a divorce and dealing with the division of your property. We are ready to offer assistance to residents in all five boroughs.
Asset protection begins with pre-nuptial agreements
Most people have heard of pre-nuptial agreements, which are written contracts created by two people before a marriage takes place. A prenup will usually list all of the property the person already owns (as well as their debts) and will specify what each individual’s property rights will be if the marriage dissolves. Pre-nuptial agreements can be powerful tools used to avoid major conflicts when a divorce happens. However, the hope is that a prenup will never need to be used at all.
Post-nuptial agreements are entered into after a couple gets married, and these can also be used to protect assets. These types of agreements are quite common amongst higher-income individuals and are often used by those who chose to forego a pre-nuptial agreement but later decide that some type of arrangement may be necessary.
Property division after a divorce in New York City
New York law says that any property acquired or earned during a marriage will be considered marital property, regardless of whose name the property may be in ((N.Y. Dom. Rel. § 236 (B)(c)).
Separate property in New York will be any property that a person owned before the marriage occurred, and it can also include some property obtained during the marriage, including inheritances, personal injury awards, or gifts ((N.Y. Dom. Rel. § 236 (B)(d)).
Property division can be extensive during a divorce in New York City. There are various types of property that will likely need to be separated between the two parties, including the following:
- The marital home
- Secondary homes
- Business real estate
- Investment properties
- Brokerage accounts, bonds, and other investments
- Pensions, IRAs, 401(k)s
- Vehicles and boats
- Artwork and other collectibles beeline jewelry
- Furniture
- …and more
In order to adequately protect any property that you have during the divorce process, it is crucial that you work with a skilled matrimonial and divorce attorney in New York City.
Call an asset protection attorney in New York City today
If you have any questions about protecting your assets before your marriage occurs, during the course of your marriage, or while you are going through a divorce, you can turn to Randi L. Karmel, PLLC for help as soon as possible. Attorney Randi Karmel has extensive experience handling matrimonial and divorce issues throughout New York, and has a deep understanding of the best way is to help you move forward with your situation. When you need a New York City asset protection attorney, do not hesitate to pick up the phone today. You can contact us for a review of your case by clicking here or calling us at 212-755-0224 (Manhattan) or 718-923-0877 (Brooklyn). We serve clients in the Bronx, Brooklyn, Queens, Manhattan, and Staten Island.