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How can I find out what I am entitled to in a divorce? We

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How can I find out...
How can I find out what I am entitled to in a divorce? We have been married 18 years, I am a permanent resident not yet a citizen and apart from a timeshare and a small IRA nothing else is in my name. My husband owned the house before I moved here however we have made extensive renovations over the past few years that I contributed to. I work in his business full time for the past 16 years and added value to it. The car he bought me is in the business name also.
JA: What state is this in? And how old is the car?
Customer: NY the car is 2012
JA: Has anything been filed or reported?
Customer: no, not at this point
JA: Anything else you want the lawyer to know before I connect you?
Customer: The reason for divorce would be multiple infidelities on his part ok thank you
Submitted: 8 months ago.Category: Tax
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Answered in 12 minutes by:
5/16/2017
Tax Professional: Matthew Breecher, Certified Public Accountant (CPA) replied 8 months ago
Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 287
Experience: Director
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New York is not a community property state, but they do have protections for spouses. In New York, property is divided equitably when a couple divorces. This can result in an equal property division, but it doesn't always. An equitable property division is one that is fair, considering what each spouse had before the marriage, contributed to the marriage, and what each spouse will need to move forward.

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Tax Professional: Matthew Breecher, Certified Public Accountant (CPA) replied 8 months ago

Please remember, as per the terms of this website, Answers of Experts on the Site are to be used by Customers for general information purposes only, not as a substitute for in-person evaluation or a specific professional opinion.

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Tax Professional: Matthew Breecher, Certified Public Accountant (CPA) replied 8 months ago

Thus, an argument could be made that the increase in the value of the home since you were married is a joint asset subject to division. But, since you cannot divide a house, he would pay you your share with other assets. Also, if he has a retirement account you could be entitled to the increase in its value since your marriage.

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Tax Professional: Matthew Breecher, Certified Public Accountant (CPA) replied 8 months ago

I hope I answered your question with sufficient detail, accuracy, and completeness based on the facts communicated. I would be happy to expand my answer should you need clarification; before you rate my answer. Accordingly, please rate my answer, based on thoroughness and accuracy, rather than any good or bad news/content. We (the experts) are only compensated when an answer is accepted and rated. I appreciate your prompt response. Sincerely, ***** ***** Breecher, CPA.

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Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
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