QUIZ

Question:  Which equitable distribution factor justifies an unequal division of assets on grounds that are unrelated to the ‘economic partnership’ theory that underlies the statute?

ANSWER

Although decisional references to marriage as an economic partnership are legion, the statute does not limit the court to partnership considerations in distributing the marital estate.

Factor # 8 provides that the court should consider “(8) the probable future financial circumstances of each party.”

This is distinctly non-partnership in nature.  If two lawyers dissolve their law partnership one does not receive a greater share of assets because he or she is a less capable lawyer who will not earn as much as the other going forward.  But, under this statutory factor, the court may do precisely that, although it does not do so on a frequent basis.  Here are a couple of examples from our MatLaw Library of Annotations:

Murtha v. Murtha, 264 A.D.2d 552, 694 N.Y.S.2d 382 (First Dept. 1999) – Wife awarded 60% of marital property based upon "the enormous disparity between the parties' current and future income potential and the loss of career potential suffered by defendant wife in the course of the marriage, as well as her fragile emotional state . . ."

 Munson v. Munson, 250 A.D.2d 1004, 672 N.Y.S.2d 968 (Third Dept. 1998) – Lower court award of 68% interest in husband's pension plan to wife with survivorship rights not an abuse of discretion given evidence of wife's inability to be self-supporting in the future, disparity of income between the parties and her disability with multiple sclerosis.

This is just one of the many issues we will be discussing at our upcoming CLE Program - - -

Whether you are a divorce attorney, mediator, or divorce financial planner, you must understand the workings of equitable distribution.  Even if you settle every case and never litigate, you must have a firm working knowledge of this crucial and complex area of law if you are to achieve optimal results for your clients.  You won’t want to miss this invaluable program.

Register today!!!

 This information-packed, fast-paced seminar will cover many of the most vexing and nuanced issues you face in your day-to-day practice. Special coverage will thus be devoted to such issues as appreciation claims and transmutation theory, hybrid and commingled assets, deferred compensation, stock options and tuition credits, and, of course, licenses and enhanced earning capacity. We will also address the all-important “nuts & bolts” issues related to financial disclosure – the “how to” of securing the information and documents you need to properly prepare, try, or settle your case.

Agenda to Include:

• Classification Issues: Appreciation, Trunsmutation & Hybrids        
• Valuation: Law and Methodologies        
• Trends in Distribution        
• Enhanced Earning Capacity: Valuation, Duplication &  Distribution        
• Deferred Compensation: Pensions, Stock Options, Tuition Benefits        
• Obtaining Financial Disclosure

Our Faculty

Timothy M. Tippins, Esq.

Professor Tippins, has engaged in matrimonial and family law practice for over 30 years. He now devotes his practice time to serving as special counsel and consultant to other family law practitioners on a nationwide basis, serving as trial and appellate counsel, with special emphasis on the presentation and cross-examination of expert mental health testimony. Tippins has served in all major professional leadership positions in the New York family law community, including President of the American Academy of Matrimonial Lawyers - New York Chapter, Chair of the New York State Bar Association Family Law Section, and Chair of the New York State Bar Association Task Force on Family Law. Tippins is a regular feature columnist for the New York Law Journal, where his numerous articles regarding custody evaluations have been published. He has lectured before virtually all of the major professional organizations, such as the New York State Judicial Institute, Association of Family and Conciliation Courts, American Academy of Matrimonial Lawyers, ABA, NYSBA, and the New York State Psychological Association. Together with Dr. Jeffrey P. Wittmann, he is the author of Empirical and Ethical Problems with Custody Recommendations: A Call for Clinical Humility and Judicial Vigilance published in the Family Court Review. They have together taught the Tippins-Wittmann Forensic Model at the NYS Judicial Institute and at other forums around the country.

Cynthia J. Tippins, Esq.

Cynthia J. Tippins, who has been designated in Best Lawyers in America, has engaged exclusively in family law practice since 1989. She maintains a private practice devoted exclusively to appeals in matrimonial and family law matters. Ms. Cornaire is a Fellow of the American Academy of Matrimonial Lawyers and has served on its Amicus Curiae Committee. She serves on the Executive Committee of the New York State Bar Association Family Law Section and has served as Co- Chair of its Family Court Committee and its Legislation Committee, as well as serving on the Section’s Custody, Legislation, and Equitable Distribution Committees. Cornaire served as Counsel to the NYSBA Task Force on Family Law. She has lectured at CLE programs for MatLaw Systems Corp., the Law Guardian Training Program sponsored by the Appellate Division, Third Judicial Department, the New York State Bar Association, and local bar groups, including the Women’s Bar Association. Ms. Cornaire has also lectured at Hofstra Law School and Albany Law School for programs sponsored by the American Academy of Matrimonial Lawyers. In addition to frequent Legal Updates, she has spoken on such topics as Preparing the Custody Case for Trial, Child Custody: The Substantive & Procedural Law, Effective Discovery & Motion Practice in Matrimonial Actions, Litigating & Negotiating Child Support Issues, Negotiating & Drafting Separation Agreements, and Effective Use of Demonstrative Evidence. Her published writings include numerous contributions to CLE seminar books, and such articles as The Status of Spousal Maintenance and the Impact of the 1986 Statutory Amendments, published by the Westchester County Bar Association. Ms. Cornaire is also a member of the American Bar Association Family Law Section.  

Program Dates and Locations

May 5 -  Rochester - RIT INN & Conference Center

May 6 - Syracuse - Justin's Grill 

May 7- Albany - Latham NYS Nurses Association

May 18 - Long Island - Hilton Long Island 

May 19 - Brooklyn - Marriott

May 20 - NYC - Radisson Martinique

May 21 - White Plains - Crowne Plaza 

Registration – 8:00 a.m. – 9:00 a.m.

Program – 9:00 a.m. – 4:20 p.m.