In New York State, the law governing the division of marital property is known as “Equitable Distribution”.  This is in contrast to a minority of other states that require the distribution of marital property on a 50/50 basis.    

The standard for achieving an equitable distribution of marital property is fairness to the parties. To achieve the goal of equitable distribution, a Court would take into consideration various factors that combine to form a complete picture of the parties needs and resources.  Such factors are enumerated in the law and are as follows: 

(1)  the income and property of each party at the time of marriage, and at the time of the commencement of the action;

(2)  the duration of the marriage and the age and health of both parties;
(3)  the need of a custodial parent to occupy or own the marital residence and to use or own its household effects;

(4)  the loss of inheritance and pension rights upon dissolution of the marriage as of the date of dissolution;

(5)  the  loss  of  health  insurance benefits upon dissolution of the marriage;

(6) any award of maintenance under subdivision six of this part;

(7) any equitable claim to, interest in, or direct or indirect contribution made to the acquisition of such marital property by the party not having title, including joint efforts or expenditures and contributions and services as a spouse, parent, wage earner and homemaker, and to the career or career potential of the other party;
                       
(8) the liquid or non-liquid character of all marital property;

(9) the probable future financial circumstances of each party ;

(10) the impossibility or difficulty of evaluating any component asset or any interest in a business, corporation or profession, and the economic desirability of retaining such asset or interest intact and free from any claim or interference by the other party;

(11) the tax consequences to each party;

(12) the wasteful dissipation of assets by either spouse;

(13) any transfer or encumbrance made in contemplation of a matrimonial action without fair consideration;

(14) any other factor which the Court shall expressly find to be just and proper.