Albany Attorneys/Lawyers: Equitable Distribution
When you are in the process of dividing marital property, the Court will seek out an “equitable distribution of assets.” This should not be confused with a 50/50 split of assets as equitable does not mean equal. Before you negotiate, it is important to know your rights, options, and potential obligations.
All property acquired by either, or both, spouses during a marriage, and up until the start of the divorce action, is considered marital property. It does not matter whose name the property is in, it will be subject to equitable distribution by the Court if it was acquired during marriage.
Similarly, any debt that was acquired by either or both spouses in that same time, will be considered “marital debt”, and will also be subject to equitable distribution.
Examples of marital property include (regardless of whose name it is in):
- Real property
- Bank accounts
- Tax shelters
- Personal property such as home furnishings
- Interest in a business
- Pension rights
- Profit sharing, retirement and savings plans
- Life insurance cash balances
You should not risk your financial stability by blindly entering an agreement before knowing your rights. At Rhoades, Cunningham & McFadden, PLLC we will give you strategic legal representation which will focus on protecting your rights and financial interests.
Several Testimonials From Our Clients…
“Karen Rhoades is an exceptional divorce attorney and I would highly recommend her services to anyone in need of them. She and her team were incredibly professional and they did a great job of explaining and facilitating the process. Karen meets you wherever you are to explain your options and present you with ideas based upon her knowledge and experience. My divorce was more amicable than many and Karen did a terrific job respecting the mediation process I was using. Divorce is never easy, but Karen takes what can be a complicated process and creates a streamlined one. Karen and her co-workers are easy to talk with and are always looking out for your best interest.”
“Regarding attorney John McFadden: Exceptional lawyer, was able to successfully get me out of some trouble I never imagined could have happened. Highly recommended!”
“I had a complicated and emotional legal matter with my ex. John [McFadden] was there every step of the way fighting for my rights. I am glad I had John on my side.”
“I felt my divorce would go on forever before I hired Attorney Rhoades. She was incredibly professional, returned my calls and emails promptly and always explained my case and my options to me in detail. In the long run I was able to get everything I was asking for and more! Karen was always prepared, was a strong advocate and always spoke with knowledge about my case. Thank you so much Karen for the great job you did!! You’re professionalism, courteous attitude and willingness to fight for my rights should not go unnoticed!!”
“Professional, focused, knowledgeable and trustworthy”
“After calling several attorneys in the area for advice, I found Mr. McFadden and received a free consultation and his fee was very reasonable. he is very knowledgeable on the laws and rights of people charged with drug offenses.”
“Dan Cunningham my divorce two years ago. He did a great job and I refer him to all my friends. This firm is the best!”
“My experience with Karen [Rhoades] was exceptional. I was going through a pretty tough time in my life when I contacted her office and her knowledge and experience in the law was like a breath of fresh air during this rough time. I would recommend her to anyone with a legal problem.”
“I can’t say enough about this firm. They were thoroughly professional, knowledgeable and lead me through a tough divorce. Highly recommended.”