Manhattan Property Division Lawyer - Richard Roman Shum

From Law Office of Richard Roman Shum, Esq. - Manhattan Property Division Lawyer examines how equitable distribution shapes divorce outcomes in New York City and why property division can affect a family's financial stability for years to come. This podcast episode explores how Manhattan property division attorney Richard Roman Shum guides clients through the classification, valuation, and division of marital assets and separate property under New York Domestic Relations Law Section 236(B). Listeners will hear how issues involving co-op apartments, condominiums, investment properties, retirement savings, business interests, debts, and inheritances can all become central in a Manhattan divorce.

The episode breaks down the difference between marital property and separate property in New York, including how commingling can transform protected assets into property subject to division. It also covers the equitable distribution process used by the New York County Supreme Court, from identifying assets and debts to applying the statutory factors that influence a fair outcome. Along the way, the discussion highlights real-world concerns involving the marital home, custodial parents, spousal maintenance, tax consequences, health insurance, pensions, financial disclosure, and Statements of Net Worth.

Listeners also gain insight into the division of high-value assets commonly seen in Manhattan, including Lower East Side residences, co-op apartments, family businesses, professional practices, brokerage accounts, art, and retirement plans that may require a Qualified Domestic Relations Order. The episode discusses the Majauskas v. Majauskas formula, the difference between enterprise goodwill and personal goodwill, and the role of forensic accountants, appraisers, mediation, negotiation, and litigation in contested property division cases. It also explains how prenuptial agreements and postnuptial agreements can alter the outcome when couples have defined their rights in advance.

Serving Manhattan neighborhoods such as the Lower East Side, Midtown, Upper East Side, Upper West Side, Tribeca, SoHo, Chelsea, Greenwich Village, Harlem, Washington Heights, and the Financial District, Richard Roman Shum brings a pragmatic approach to family law and matrimonial matters across all five boroughs. This episode is designed for individuals and families facing divorce in Manhattan, Brooklyn, Queens, the Bronx, or Staten Island who need a clearer understanding of property division, hidden assets, automatic orders, and long-term financial planning. With guidance rooted in New York law and the realities of practice at 60 Centre Street, this conversation shows how Law Office of Richard Roman Shum, Esq. helps clients protect what matters most during divorce.

Law Office of Richard Roman Shum, Esq

20 Clinton St FRNT 5D, New York, NY 10002, United States

(646) 259-3416

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