We’re in the thick of tax season now, but it also happens to be the time of year at which divorces surge. Therefore, if you’re starting a divorce process now, it’s important you keep tax considerations in mind. Here are a few things you should know about divorce and taxes. Know your filing status: If you are going through a…
The trends in the field of divorce and the way divorce is perceived in general have changed a bit over the last decade. It’s getting increasingly less likely that couples will find themselves in knock-down, drag-out fights over most divorce related issues. Shifting gender norms have resulted in a more neutral perspective in most issues, particularly those related to children,…
One of the most common concerns people have entering a potential divorce scenario, beyond just how the divorce will uproot their lives, is how much they can expect the entire divorce process to cost. The costs of a divorce will vary widely from case to case, so it can be difficult to come up with an average figure. For example,…
There is a common misconception that prenuptial agreements are only beneficial for high-net worth couples, but this simply isn’t true. There are many people who can benefit from the use of a prenuptial agreement when entering into a marriage, and therefore the more you know about these contracts the easier it will be for you to make an informed decision…
Prenuptial agreements can be extremely useful tools for outlining the terms of a potential future divorce before you get married. They help you protect your assets or investments, particularly those you want to preserve for children from a previous marriage. However, prenups can’t be used for just anything—there are certain terms that will not be able to be enforced. Among…
Divorcing couples are required by law to be completely transparent in their disclosures of all assets, including income, expenses and debts. However, it is unfortunately not uncommon for people to attempt to conceal assets during the divorce in an effort to avoid having to split them up with their spouse. They might hide or undervalue certain pieces of marital property,…
The coronavirus (COVID-19) pandemic has overwhelmed many of our institutions and touched every facet of people’s lives. Along with other concerns, parents who live apart need to understand how this upheaval might affect their custody and visitation arrangements. Specific areas where COVID-19-related issues call for prompt help from a knowledgeable New York family law attorney include: Modifying visitation arrangements —…
Many couples on the brink of divorce try to “wait it out” over the holidays, some in hopes that the seasonal spirit will rekindle their romance, while others simply wanting to avoid the unpleasantness until extended family time is over with. It should come as no surprise, then, that January (and the first quarter of the year in general) often…
There are a lot of difficult emotions that surround the divorce process, and people who are involved in divorces might make poor decisions that are a result of these emotions. One example of such a decision is to attempt to conceal assets to prevent them from being divided in the divorce process. This is a form of financial fraud, and…
Getting divorced during tax season can add to the stress you’d normally experience during the divorce process at other times of the year. It’s important not to let your tax responsibilities go by the wayside while you’re also focused on the legal responsibilities you have in the divorce process. Here are some tips to help you balance your taxes and…