New York divorce laws regarding assets follow an “equitable distribution” approach. This means that marital property—assets acquired during the marriage—is divided fairly, though not necessarily equally, between the spouses. Marital property includes income, real estate, and retirement accounts obtained during the marriage. Separate property, such as assets acquired before the marriage or through inheritance, typically remains with the original owner. Courts consider various factors when dividing assets, including the duration of the marriage, each spouse’s financial contributions, age, health, and future earning potential. Prenuptial agreements can also influence asset division.