As one New York man found out recently, it is important to stick to agreements made during divorce. New York follows a rule of equitable distribution when weighing division of assets and property during a divorce. When couples come to agreements through negotiation or mediation, the court need not be involved. This case springs from… Read More »
When high net worth couples divorce, the stakes are high. A recent ruling in Oklahoma allowed the 76th richest person in the world to hold on to a majority stake in his business. Harold Hamm may not be a household name, but his company, Continental Resources produces ten percent of the U.S. oil output. Worth… Read More »
Division of property is a hotly debated topic in many divorces. A recent Appellate Division case defined an instance when separate property is not actually separate property. In New York, the assets and debt of the marital estate are subject to equitable distribution during divorce. When couples cannot agree on how to distribute their property,… Read More »
In New York, the marital estate is subject to equitable division, that is, fair allocation of proceeds to both parties. The only assets divided during divorce are those that are known — so how do you know your entire marital estate is on the table when it comes time to divorce? Whether out of fear… Read More »
In a December 23, 2012 article in the Wall Street Journal, reporter Sophia Hollander writes about how New York State considers a license or professional degree acquired during a marriage to be property that is to be divided between spouses in a divorce. The original idea behind the law, when it was drafted decades ago,… Read More »
Under the law of equitable distribution, marital property must be divided in a just manner between the spouses without considering any fault. Spouses can keep property that has been separate in the marriage. But what is separate and what is marital can be difficult to determine. An experienced divorce lawyer can make an examination of… Read More »
For many couples, infidelity is an unforgivable act of betrayal. It can negatively affect a marriage to the point where divorce is the only option. Each year, a large number of couples end their marriage because one person is unfaithful. New York State recently adopted a no-fault divorce law. As a result, New Yorkers who… Read More »