Category Archives: Divorce
What to Consider Before Keeping the Marital Home in a Divorce
When couples divorce in New York, their home is usually among the assets that must be divided between them. However, either spouse or both may wish to keep the home. This may be driven not only by economic concerns but also by emotional attachment. Whatever the reasons, deciding to keep the home requires consideration of… Read More »
Why a High-Net-Worth Divorce Needs Special Handling
A high-net-worth divorce is generally defined as one in which the spouses have liquid assets valued in excess of a million dollars. These assets often consist of real estate, investments, businesses, luxury items and financial portfolios. High-net-worth individuals include entrepreneurs, corporate executives and individuals with inherited wealth. Their divorces typically involve more intricate financial analysis… Read More »
“Gray Divorce” and Its Financial Implications
While divorce rates in the U.S. have stabilized overall and in fact have declined in younger age groups, the divorce rate for individuals aged 50 and older has more than doubled since the 1990s. This phenomenon — called “gray divorce” — often presents unique financial challenges. There are varied reasons for gray divorce, such as… Read More »
Your Remedies in a Divorce if You Think Your Spouse is Hiding Assets
In New York divorce cases, the principle of equitable distribution applies, which means marital property is divided fairly though not necessarily equally. Marital property generally includes all assets and debts acquired during the marriage, regardless of whose name they are held in. Each spouse has a legal duty to fully disclose their full financial information…. Read More »
How to Keep Your Health Insurance From Lapsing After a Divorce
Divorce can significantly impact health insurance for a spouse covered under the other spouse’s plan. In New York, health insurance coverage cannot be terminated while a divorce is pending without the court’s permission or the written consent of the other party. However, most plans cease covering a spousal beneficiary immediately upon divorce. If you are… Read More »
Common Parenting Time Arrangements After Divorce
In a divorce, parenting time — also known as visitation — is an essential part of a child custody arrangement. A New York court deciding on allocation of parenting time will focus on what is in the child’s best interests, weighing such factors as the child’s age, their relationship with each parent and the ability… Read More »
How Retirement Accounts May Be Divided During a Divorce
The nest egg you’ve put away for retirement is the product of your hard work and careful savings over a lifetime, and you might think it is yours alone. But in a New York divorce, retirement accounts are considered marital property to the extent they were accrued during a marriage. As such, they are part… Read More »
How N.Y. Courts Decide if Property Is Marital or Separate
In a New York divorce, determining whether property is marital or separate directly impacts the equitable distribution of assets. Under New York law, marital property is generally defined as any property acquired by either spouse during the marriage, regardless of whose name is on the title. On the other hand, separate property includes assets that… Read More »
Special Issues Faced When Divorcing a Narcissist
Narcissistic personality disorder (NPD) is a mental condition characterized by an inflated sense of importance, a deep need for excessive attention and admiration, troubled relationships and a lack of empathy for others. During divorce proceedings, a narcissistic spouse may exhibit manipulative, controlling and vindictive behaviors that can present major hurdles to overcome. One of the… Read More »
How the SUNY Cap Can Affect Sharing of Post-Divorce College Expenses
In New York State, child support covers basic needs such as housing, food, clothing and education until a child reaches age 21. That can include college attendance to the extent it is within the parents’ financial ability. The SUNY Cap is a financial guideline regularly used by New York Courts to determine the maximum amount… Read More »