•  Matrimonial Property
•  Marital Debt

When divorcing couples disagree on asset and debt division of their marital property, or disagree as to what is separate and what is marital property, after all other negotiation efforts have been exhausted, arbitration can be an expeditious and affordable alternative to a lengthy and costly trial. If both parties agree, binding arbitration is a means to reach a final conclusion so that each party can end their marital war and move on with their separate lives. Attorneys, courts and self-referring parties may use arbitration services to settle disagreements.

During the arbitration hearing, each spouse presents his and her case to the arbitrator, including evidence, witnesses and testimonials.

     • The Arbitrator (sometimes called "arbiter") listens to each side describe why specific marital assets and/or debts should          be divided between the parties within New York State Guidelines for Equitable Distribution.

     •  Marital assets include:
          •  Real Estate
          •  Businesses
          •  Retirement and Pension Funds
          •  Bank Accounts and Investments
          •  Motorized Vehicles
          •  Household Furnishings, Tools, Collectibles, Antiques
          •  Marital Residence Equity
          •  Gifts, Inheritance, Lottery, Pending Insurance Claims

     •  Marital debts include:
          •  Mortgage(s)
          •  Credit Cards
          •  Installment Loans
          •  Loans against Retirement Funds
          •  Other Unpaid Debts in Dispute
          •  Medical Bills

     •  Binding arbitration hearings, which are private and closed to the public, can be scheduled within days; the arbitrator          issues the award within 30 days.

     •  When an inquiry is made by a referring professional (attorney, court or other professional) or by self-referring parties, an          orientation packet is mailed to the claimant (the party initiating the claim) and to the respondent (the party responding to          the claim).

1. The process then begins:

     •  Matter submitted to Arbitration
     •  Each party signs an Agreement to Arbitrate and other forms
     •  Fees are remitted
     •  The issue(s) to be arbitrated are established

2.  Arbitrator is selected

     •  Parties agree to hearing guidelines

3.  Parties prepare to present their case

     •  Evidence is collected, including receipts, photos, testimonials
     •  Witnesses are arranged (if applicable)
     •  Subpoenas are issued (if applicable)

4.  Hearing is promptly scheduled

     •  Equipment is arranged
     •  Location and time is determined

5.  Arbitrator conducts the Hearing

     •  Parties are sworn in
     •  Parties make opening statement
     •  Parties present their argument
     •  Parties make closing statement

6.  Arbitrator prepares decision

     •  Award is issued within 30 days
     •  Award can be converted to judgment

With matrimonial matters, only marital assets and debts can be arbitrated. Conflicts involving custody and visitation, and child support may be resolved either through mediation services, litigation or in court. Contact ACCORD for more details.