Brooklyn Equitable Distribution Lawyer

For almost three decades, Brooklyn equitable distribution lawyer Stephen Bilkis, founder of Stephen Bilkis & Associates, has handled divorce, property division, and other matrimonial cases throughout the borough. The firm has handled more than hundreds of equitable distribution cases, and its attorneys have a combined total of more than 300 years of legal experience.

The end of a marriage often raises urgent questions about money and property. You may be unsure whether you can remain in your home, how the retirement accounts you have funded for years will be divided, what will happen to a company you started, or whether you will be held responsible for debts that you believe are your spouse’s alone. You may even have concerns that your spouse has been siphoning off funds, understating what assets are worth, or failing to report everything they own. We start by learning the story of your marriage’s finances, including what you and your spouse acquired, what you owe, and which assets are most important to your stability going forward.

Brooklyn couples come to us with a wide range of financial circumstances. For some, the marital estate consists of a condo, a few bank accounts, and employer retirement plans. For others, it includes a brownstone that has appreciated dramatically, rental units, a restaurant or creative business, a professional practice, equity in a startup, investment accounts, or money that has been shuffled between separate and joint accounts over many years. We identify every asset and debt, evaluate which are marital and which may be separate, and scrutinize the valuation and ownership issues that could shape how the marital estate is divided.

Choosing the right firm to handle these decisions matters, and Stephen Bilkis has earned recognition throughout his career from respected legal organizations and rating services, including selection to the New York Super Lawyers list, a distinction given to only 5% of attorneys in the state. He has also received an Excellent rating from Avvo, been recognized as a Top-Rated Lawyer by Justia, and been acknowledged by Expertise.com and TopLawyer.com.

How Equitable Distribution Works in a Brooklyn Divorce

Many spouses start the divorce process assuming they will walk away with exactly half of everything, and they are often caught off guard when they learn how New York law really works. Stephen Bilkis gives clients a candid explanation of the property division rules at the outset, so they can evaluate offers and decide whether to go to trial with realistic expectations. We develop a clear view of what a fair outcome would be before settlement talks get underway.

In New York, marital property is divided under Domestic Relations Law § 236(B), which calls for an equitable, or fair, division rather than an automatically equal one. Brooklyn spouses may settle the division between themselves, and when they cannot, a judge in one of the Matrimonial Parts of the Supreme Court, Kings County, at 360 Adams Street, Brooklyn, will decide the matter after considering the factors spelled out in the statute. The  Brooklyn equitable distribution lawyers at Stephen Bilkis & Associates prepare each case with trial-ready evidence, which gives our clients meaningful leverage when negotiating a settlement.

Contested divorces in Brooklyn follow the Kings County Contested Matrimonial Part Uniform Rules, which include the following procedures:

• Requesting a preliminary conference: Under the Kings County rules, a request for a preliminary conference should accompany the request for judicial intervention that brings the case before a judge, and the court then schedules the conference.
• Appearing in person: The preliminary conference is held in person unless the court directs otherwise.
• Filing financial statements: Each spouse’s sworn statement of net worth must be filed with the court at least ten days before the preliminary conference.

We prepare clients’ financial disclosure well ahead of these deadlines and walk them through what to expect at the courthouse, so they arrive at the first conference prepared and confident.

Spouses who earn less than their partner frequently ask us whether they can make the other spouse pay their legal fees. In many cases, they can. New York law creates a presumption that the spouse with greater income or resources should contribute to the attorney fees of the less-monied spouse, so that both sides can fairly litigate property issues, and the court decides the amount based on each spouse’s finances and the circumstances of the case.

Marital vs. Separate Property in a Brooklyn Divorce

Wondering which of your assets your spouse can lay claim to can leave you feeling unsteady and unsure of your future, especially when you are trying to plan where you will live and how you will start over. Stephen Bilkis & Associates helps clients sort their assets into the correct categories and challenges any effort by the other spouse to relabel separate property as marital. We investigate the background of each major asset, including the date it was acquired, the source of the money used to buy it, and whether it was later combined with marital funds.

Marital property ordinarily includes income earned during the marriage, property acquired with that income, and retirement benefits accrued during the marriage, whoever’s name is on the account or deed. Separate property ordinarily includes property owned before the marriage, inheritances, gifts from anyone other than a spouse, the portion of a personal injury award that compensates for pain and suffering, and property identified as separate in a valid prenuptial or postnuptial agreement.

Separate property is not always safe from division. It can lose its separate character if it is blended with marital money, and appreciation in its value may be partly marital when it stems from the other spouse’s contributions or efforts. Stephen Bilkis and his team use bank statements, closing documents, and account records to trace separate funds and preserve them for the client.

One question we hear often from Brooklyn homeowners is whether they can get credit for separate money they put toward the down payment on the marital home. Often, they can. If you can trace the funds back to a separate source, such as savings you had before the marriage or an inheritance, New York courts will frequently give you a credit for that contribution before the rest of the equity is divided, and records like bank statements and closing documents are usually essential to proving where the money came from.

How Brooklyn Courts Decide Property Division

A judge’s decision about how to divide your property can affect where you live, when you can retire, and how financially secure you are for decades. Stephen Bilkis frames the facts of each case to demonstrate to the court why his client’s proposed division is the fair one. We concentrate on the statutory factors that most strongly favor the client and assemble evidence to support them.

Courts in Brooklyn weigh each spouse’s income and property at the time of the marriage and at the time the divorce was filed, the duration of the marriage, each spouse’s age and health, and whether a custodial parent needs to occupy the marital home. They also consider the loss of inheritance rights, pension rights, and health insurance resulting from the divorce, any maintenance award, the contributions of a spouse who managed the home and raised children while the other focused on a career, whether the property is liquid, each spouse’s likely future financial circumstances, the tax consequences of the division, wasteful dissipation of assets, transfers made in contemplation of divorce, domestic violence, and any other factor the court decides is just and proper.

Our experienced Brooklyn equitable distribution lawyers present testimony and documents that give the court a complete picture of what each spouse brought to the marriage, including contributions that never came with a salary.

Dividing Marital Debt in a Brooklyn Divorce

The relief of ending a difficult marriage can quickly fade when you learn that you may still owe money on credit cards, loans, or taxes you had no idea about. Stephen Bilkis & Associates represents clients in disputes over how mortgages, credit card balances, auto loans, business liabilities, and tax debts will be allocated. We analyze each debt to determine when it was incurred, what it paid for, and whether it benefited the marriage.

Marital debts, meaning those taken on during the marriage for the benefit of the household, are usually divided along with marital assets, while a debt one spouse incurred for purely personal purposes may be assigned to that spouse. Creditors are not bound by a divorce judgment, so a lender can still pursue you on a joint account if your former spouse falls behind. The Brooklyn equitable distribution lawyers at our firm negotiate refinancing, payoff, or indemnification provisions to protect clients if a former spouse fails to pay.

Dividing a Business or Professional Practice in Divorce

Having your spouse claim a share of the business you worked nights and weekends to build can feel like an invasion of something that is truly yours. Stephen Bilkis represents business owners and their spouses in cases involving closely held companies, restaurants and retail businesses, startups, medical and dental practices, law and accounting firms, and other professional interests. We retain qualified valuation experts early in the case, so that the value the court considers is supported by rigorous financial analysis rather than guesswork.

The portion of a business that was acquired or increased in value during the marriage is generally subject to equitable distribution. Placing a value on it may require analyzing tax returns, profit and loss statements, the owner’s salary and distributions, and personal expenses paid by the company. For startups and early-stage ventures, valuation can also involve reviewing investment rounds, equity grants, and vesting schedules.

Consider how we would approach a scenario like this one: a couple married for 12 years co-owns a busy restaurant in Williamsburg, and the spouse who runs the daily operations reports only modest profits, even though the dining room is full most nights. We would obtain the restaurant’s point-of-sale reports, bank deposits, supplier invoices, and tax returns, and have a forensic accountant compare what the business buys against what it reports selling, since food and liquor purchases often reveal unreported cash sales. With a credible valuation in hand, we would negotiate a buyout that allows the operating spouse to keep the restaurant while our client receives a fair share of what it is actually worth, or present that evidence to the court if the case goes to trial.

Under a 2016 change to New York law, the enhanced earning capacity associated with a professional license or degree is no longer treated as marital property, but a court may still take into account a spouse’s direct or indirect contributions to the other spouse’s education or career. We look for ways to divide a business’s value without disrupting its operations, such as offsetting it against other marital assets or structuring payments over time.

Dividing Retirement Accounts and Pensions in Divorce

Retirement savings are often a couple’s most significant asset, and dividing them incorrectly can mean losing thousands of dollars or triggering taxes and penalties that could have been avoided. Stephen Bilkis & Associates handles the division of 401(k) plans, IRAs, government and union pensions, deferred compensation, and stock options. For each account, we isolate the portion earned during the marriage from any amount earned before the marriage or after the divorce was filed, so that only the marital share is divided.

Retirement benefits accumulated during the marriage are generally marital property, even when the account is held in one spouse’s name. Pensions are frequently divided by a formula that awards the non-employee spouse a share of the benefits earned during the marriage, and many plans can only be divided through a qualified domestic relations order that the plan administrator must approve. A Brooklyn equitable distribution lawyer at our firm can ensure these orders are prepared correctly and submitted promptly, because a mistake or a delay can cost a spouse benefits.

Dividing the Marital Home in a Brooklyn Divorce

The prospect of giving up the home you shared, whether it is a brownstone, a co-op, or a condo, can be one of the most painful parts of a divorce, and in Brooklyn that home is frequently worth more than anything else the couple owns. Stephen Bilkis represents spouses who want to keep the marital home as well as spouses who want to be paid a fair price for their interest in it. We take a hard look at whether keeping the home is financially sustainable, considering the mortgage or maintenance, property taxes, insurance, repairs, any rental income from other units, and the client’s income after the divorce.

A court may award the home to one spouse and offset its value with other assets, direct that it be sold and the proceeds divided, or permit a parent with custody of the children to remain there for a period of time. If one spouse owned the home before the marriage, the other spouse may still be entitled to part of any increase in value that resulted from marital contributions such as mortgage payments or renovations, which can be substantial given how much many Brooklyn properties have appreciated. The firm obtains appraisals and payment records so that each spouse’s share of the equity is calculated precisely.

This issue comes up often, because according to the New York State Department of Health, nearly half of the 4,019 divorces granted in Kings County in 2022 ended marriages of 10 years or longer, which is plenty of time for a Brooklyn home to gain significant value. With years of experience handling hundreds of equitable distribution cases in New York, we know how to document each spouse’s contributions to the home and make sure our clients receive their fair share of that growth.

Hidden Assets and Dissipation of Marital Funds in a Brooklyn Divorce

The feeling that your spouse is hiding money, reporting less income than they actually earn, or running down marital accounts can make it hard to trust anything they tell you. Stephen Bilkis and his team represent clients whose spouses have concealed assets, transferred property to family members or friends, or wasted marital funds on gambling, affairs, or other personal spending. We rely on financial records, not the other spouse’s word, to uncover where the money has gone.

When a divorce action is started, automatic orders go into effect that generally bar each spouse from transferring, concealing, or wasting marital assets while the case is pending, applying to the spouse who files as soon as the papers are filed and to the other spouse once they are served. Each spouse is also required to file a sworn statement of net worth disclosing income, assets, and debts. If assets may be hidden, including in cryptocurrency or business accounts, the firm reviews tax returns, bank and brokerage statements, credit card records, and business documents and, when needed, uses discovery, subpoenas, and forensic accountants to locate and value them. When a spouse has concealed or squandered marital property, the court can take that conduct into account and award the other spouse a larger share of the remaining estate.

Clients who suspect hidden assets often ask us whether cryptocurrency is divided in a New York divorce. It is. Cryptocurrency acquired during the marriage is generally treated like any other marital asset and must be disclosed on each spouse’s statement of net worth, and because it can be held in digital wallets that are harder to trace than bank accounts, identifying and valuing it may require subpoenas or the help of a forensic accountant.

Enforcing an Equitable Distribution Award in Brooklyn

Few things are more aggravating than finishing a long divorce only to have your former spouse ignore the judgment by refusing to sign a deed, transfer an account, or make a required payment. Stephen Bilkis & Associates represents clients who need to enforce equitable distribution awards and settlement agreements after their divorce is final. Our experienced Brooklyn equitable distribution lawyers act without delay, because the longer a former spouse stalls, the more likely it is that assets will be spent, sold, or moved out of reach.

Courts have a number of enforcement tools available, including money judgments, orders compelling the transfer of property, and contempt proceedings. When a pension or retirement account was supposed to be divided, the solution may be as simple as obtaining the necessary court order and submitting it to the plan administrator. We review the judgment, determine exactly which obligations have not been fulfilled, and pursue the remedy most likely to secure what the client was awarded.

Request a Free, No-Obligation Consultation with Stephen Bilkis & Associates

If you are going through a divorce and want to protect your share of the property and avoid being saddled with unfair debt, contact an experienced Brooklyn equitable distribution lawyer at Stephen Bilkis & Associates today for a free consultation at 800.696.9529. When you reach out, you can share details about your marriage, the property and debts involved, whether a court date or order is already pending, and what you hope to achieve. We will discuss your situation and identify the next steps that may be available. Early action matters, because a spouse who has time to prepare may begin moving money or transferring property before the automatic orders take effect.

Clients who contact our firm are working with a practice whose founder has been recognized by the legal community. Stephen Bilkis has been selected to the New York Super Lawyers list, which recognizes the top 5% of attorneys in the state. He is also rated Excellent by Avvo and has been recognized as a Top-Rated Lawyer by Justia, as well as by Expertise.com and TopLawyer.com.

Stephen Bilkis & Associates represents clients throughout Brooklyn, from Park Slope and Bay Ridge to Williamsburg and Sheepshead Bay, as well as in Manhattan, Queens, the Bronx, Staten Island, Nassau County, Suffolk County, Westchester County, and other communities in the New York area.