Alec Jeffrey Megibow - Page 7

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            rights of the parties in marital property, the Domestic Relations                           
            Law provides:  “Marital property shall be distributed equitably                             
            between the parties, considering the circumstances of the case                              
            and of the respective parties.”  N.Y. Dom. Rel. Law sec.                                    
            236B(5)(c).  The terms “maintenance” and “distributive award” are                           
            defined in the Domestic Relations Law, N.Y. Dom. Rel. Law sec.                              
            236B(1)(a) and (b), respectively, as follows:                                               
                        (a)  The term "maintenance" shall mean payments                                 
                  provided for in a valid agreement between the parties                                 
                  or awarded by the court in accordance with the                                        
                  provisions of subdivision six of this part, to be paid                                
                  at fixed intervals for a definite or indefinite period                                
                  of time, but an award of maintenance shall terminate                                  
                  upon the death of either party or upon the recipient's                                
                  valid or invalid marriage, or upon modification                                       
                  pursuant to paragraph (b) of subdivision nine of                                      
                  section two hundred thirty-six of this part or section                                
                  two hundred forty-eight of this chapter.                                              
                        (b)  The term "distributive award" shall mean                                   
                  payments provided for in a valid agreement between the                                
                  parties or awarded by the court, in lieu of or to                                     
                  supplement, facilitate or effectuate the division or                                  
                  distribution of property where authorized in a                                        
                  matrimonial action, and payable either in a lump sum or                               
                  over a period of time in fixed amounts.  Distributive                                 
                  awards shall not include payments which are treated as                                
                  ordinary income to the recipient under the provisions                                 
                  of the United States Internal Revenue Code.                                           
                        2.  Petitioner’s and Respondent’s Arguments                                     
                  Respondent argues that the $50,000 payment was made in                                
            settlement of property rights:  “The $50,000 payment is part of a                           
            global property settlement.”  Respondent reaches that conclusion                            
            based on the settlement stipulation.  He directs us first to the                            
            separate provision dealing with “maintenance” and then to                                   
            Marilyn’s attorney’s description of the $50,000 payment as “in                              



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Last modified: May 25, 2011