New York Divorce Law...

New York Law - What is "Marital Property?"

In general, all property acquired during the marriage is marital property.

Examples: Marital property generally includes the following:

• A home if purchased with earnings of either or both parties during the marriage.
• A pension plan, to the extent accrued during the marriage.
• The value of bank accounts, mutual funds, etc., at least to the extent the funds deposited were earned by either party during the marriage.

Cases:

Grotsky (1994) 617 NYS2d 517 (Where, just a few months before the filing for divorce, the husband withdrew thousands of dollars from the marital account, and the husband could not explain what happened to the money, that money was counted as a marital asset, subject to division.)

Nat'l Ben. Life Ins.Co. v. Kelly (1990) 554 NYS2d 523 (Life insurance can be marital property, where premiums were paid during marriage).

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