Given the exorbitant cost of higher education, many parents start investing into a 529 plan years before tuition payments are required. Should they get divorced, parents might believe that this college fund will be unaffected because both still are committed to financing their child’s education and the assets in the 529 belong to their son… Read More »
Amid all the attention given to alimony, property division and other financial issues in a divorce, it’s possible that couples may not fully consider tax issues related to business entities that they own. This is a problem for a number of reasons, not the least of which is that many small business owners sometimes use… Read More »
When a couple divorces in New York, the assets in their marital estate are equitably distributed based on a settlement agreement or a judge’s decision. However, the distribution cannot proceed fairly unless both spouses have a full accounting of the property and debts that must be divided. State law requires parties in a divorce to… Read More »
Divorce can bring out the worst in people. Faced with the reality that the marriage is ending, one spouse might decide to spend large amounts of marital funds either in the weeks leading up to the divorce or soon after the process begins. Spending down the marital estate comes up frequently in New York divorces…. Read More »
As divorce lawyers, we know that every couple’s financial circumstances are unique. One situation that may arise is where one spouse is primarily supported by his or her parents. This might be called the problem of the freeloading spouse. If your spouse doesn’t have income or assets in his or her own name, are you… Read More »
In this No-Fault State, many people are of the opinion that it does not matter if there was abuse or adultery, equitable distribution is usually treated as equal distribution in New York divorces, regardless of the fault. This is changing, and if you behave poorly during your marriage, it may cost you a disproportionate amount… Read More »
After you’ve spent years contributing to your pension, the possibility of losing half of it to your ex during a divorce may seem a bitter pill to swallow. But a pension is considered marital property in New York and thus subject to equitable distribution, so relinquishing part of your pension is nearly unavoidable. Equitable means… Read More »
The short answer is yes, there is a way. However, successfully using evidence of an affair to obtain a favorable property or alimony award is rare. Our firm has achieved many positive results in this area but certain factors must exist in order to influence a court’s decision. New York judges are not allowed to… Read More »
For centuries, adultery and divorce have been inextricably linked. In fact, until 1966, adultery was the only permissible divorce ground under New York law. Even today, though most litigants opt for no-fault divorce, New York still allows marriage dissolution because one spouse has been unfaithful. However, when it comes to property division, the law does… Read More »
New York family law attorney Bryan L. Salamone has been admitted for 2019 membership to the Lawyers of Distinction, a roster of elite attorneys nationwide who stand out based on high achievement and recognition by their peers. This honor is bestowed on the top 10 percent of lawyers in the country by practice area, and… Read More »