In a divorce, assets acquired by either party while they were wed typically become part of the marital estate that must be divided between the parties. Often, questions over who gets the house or car are the most difficult part of the marriage dissolution process. If you’re going through a divorce, you should remember that… Read More »
In movies and TV shows, marriages often break up because of adulterous affairs exposed in the most dramatic way possible. However, many real-life divorces can be traced to missed credit card payments and repossessed vehicles. A lost job, failed business, medical emergency or unhealthy habit could threaten a family’s ability to make basic needs. These… 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 »
A variety of studies have been done over the years into how age at marriage affects the likelihood of divorce. But in terms of actual impacts on the divorce process itself, there are different considerations to keep in mind. Alimony: Alimony is generally meant to be temporary to allow a spouse to maintain their standard… Read More »
The term “equitable distribution” refers to a system of property division in which the court divides marital property in a fair, equitable manner—not necessarily one that is equal. Some of the considerations the court will take into account include: The length of the marriage The age and health of each spouse The amount of money… Read More »
You have likely heard of a prenuptial agreement—a contract people enter into before they get married that outlines many issues related to the marriage, including property division and responsibilities should the marriage end in divorce. However, not as many people are familiar with postnuptial agreements, which have similar benefits and functions but are created and… 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 »
Divorce does not just place a lot of strain on you emotionally and physically — it also takes a financial toll. You and your spouse must make a series of decisions that will have a significant impact on your financial situations, both present and future. The following are just a few examples of the biggest… Read More »
When a couple enters a divorce in New York, state law requires that all property and debts get divided in a way that’s fair to both parties. To determine what is fair (or equitable) when it comes to the legal distribution of property, the court takes several factors into consideration. With the help of attorneys,… Read More »
A great Nassau County Judge once stated; “There are three issues in every divorce: Money; Money; and Money.” -Nassau County Judge, November 2015 Many people will think that a divorce lawyer should be aggressive; others think compassionate; many think it’s a job that involves hand-holding or therapy. Nonsense. In the State of New York (specifically… Read More »