New York - NY Divorce Mediators is an extremely knowledgeable and professional divorce mediation firm established in New York. They offer the best advice for equitable division of assets and debts for spouses who are separating or divorcing in Long Island.

The law states that all of the marital property and debt must be equitably divided upon divorce or separation which typically means divided into two equal parts unless there is an agreement which provides otherwise or if it would be inequitable to do so.

Couples who get separated or divorced often end up arguing about who will keep what. Disputes can involve financial assets, such as the house and retirement accounts, but they can also involve furnishings, personal items, and even pets. Separating spouses should try to agree as much as they can and compromise whenever possible.

What is marital property?

Marital property is everything you or your spouse acquired during your marriage regardless of whose name is on the property. Property owned prior to the marriage, gifts, inheritances, and any funds relating to a disability or personal injury are generally deemed to be separate property unless commingled with marital assets.

Marital property generally includes:

• The family home
• All kinds of investments
• Bank accounts
• Insurance policies
• Pensions
• Shares in a business

What is marital debt?

Marital debt includes all debts that incurred during the marriage regardless of whose name is on the debt.

Marital debt includes:

• Mortgages
• Loans from family members
• Bank lines of credit or overdrafts
• Credit cards
• Income tax
• Repair costs

Marital debt also includes debts incurred after separation if the money was spent to satisfy obligations relating to marital assets that have not yet been divided. Both spouses are equally responsible for any and all marital debt.

During mediation, the divorce mediator in Long Island often begins with a discussion of the general legal guidelines that apply to the case. This includes a review of the laws of the state and how those laws would typically be applied by a judge if the case was being litigated in court and the likely determinations that would be made with respect to the division of assets and debts, child custody, child support, visitation, spousal maintenance, taxes, life and health insurance. All of this legal information helps parties to decide how to equitably resolve all relevant issues.

About the Company:
NY Divorce Mediators is a New York based firm that specializes in divorce mediation, where all clients will receive a fast, friendly and affordable divorce or separation with the help of a divorce mediator. The divorce mediator facilitates all negotiations and discussions and provides all information necessary for parties to reach a fair agreement. The divorce mediator also prepares files of all required paperwork for a divorce or separation with the Court. NY Divorce Mediators operates and offers divorce mediation in all of the following New York locations: Long Island, NYC, Westchester, Rockland, Orange, Putnam, and Sullivan.