Distribution OF ASSETS AND LIABILITIES
During the divorce process, it is nessesary to distribute assets and liabilities when dividing marital property. It does not necessarily indicate equal division, but fair division. Instead of a strict 50/50 split in which each spouse receives exactly one half of the property acquired during the marriage, the distribution is used to look at the future financial situation of each spouse after the termination of the marriage.
This is a flexible system; however, it is difficult to predict the actual outcome of the distribution, which is decided by the state courts. Some factors taken into consideration when dividing property during equitable distribution are subjective, making prediction unfeasible.
Divorce Mediation Services of Buffalo does not provide legal advice but will guide both parties to a mutual and voluntary agreement on this matter.
Call today, we would be honored to help!
Divorce Mediation Services of Buffalo LLC. Is not a law firm and does not provide legal advice or counsel. Each party has been encouraged to be fully advised by their respective counsel regarding the legal, financial, and practical effect of any agreement entered into.