In New York, the spouses can enter into a settlement agreement, also known as a stipulation of settlement, which addresses property division, alimony and other issues. If you have high net worth, it is particularly prudent to negotiate a settlement agreement, rather than leave the division of your property to a court.
The court has a tremendous amount of discretion in deciding what happens to your property if you have not worked out a settlement agreement. Before signing any settlement agreement, contact the attorney and staff at the law offices of Lauren B. Abramson, Esq. for knowledgeable legal advice.