Preparing for Your Life During and After Divorce
Transitioning from living as part of a couple to living as an independent individual can be challenging in many ways. But one of the factors people frequently overlook is the significant change to their personal financial affairs. That is why a divorcing spouse should take several steps both before and immediately after filing for divorce…. Read More »
How Professional Degrees Impact Divorce
A professional degree, certification or license is more than a piece of paper. It is a gateway to an enhanced income and better life. Moreover, while only one person’s name can be on a degree, others — especially a spouse — may have contributed greatly to making it possible. That is why professional degrees can… Read More »
Be Smart With Social Media During Divorce
Even if a couple parts under friendly circumstances, divorce is often difficult and frustrating. Handling all aspects of divorce in New York, our attorneys often see the effects of electronic communication on the cases of our clients. Too often, spouses do not realize the impact of an email or Facebook posting on the eventual outcome… Read More »
How Do You Consciously Uncouple Assets?
Entertainers Gwyneth Paltrow and Chris Martin created a divorce sensation when they announced they were consciously uncoupling. What effect does that have on division of assets during divorce? In March, the celebrity couple announced their separation via Goop, the website of Ms. Paltrow. While a great deal of attention is paid to the apparent civility… Read More »
Estate Plans and Divorce: What You Need to Know
Both parties in a divorce must address estate planning issues to help ensure there are no surprises after divorce — or even in the event one spouse dies at any time before a divorce’s finalization. The issues cited in a January 2008 Report of the Surrogate’s Court Advisory Committee resulted in a rewrite of existing… Read More »
The Tax Impact of Spousal Maintenance Requires Careful Consideration When Negotiating the Terms of Divorce
Taxes should be a major consideration when negotiating the terms of divorce. At its simplest level, the party who makes any type of payment defined as spousal maintenance under federal tax laws can deduct those payments, while the recipient must declare the payments as income. Qualified taxable income Although the IRS does not consider payments… Read More »
How Long is This Going to Take?
One of the questions our clients inevitably ask is, “How long is my divorce going to take?” Unfortunately, there is no single answer. Divorces can be resolved relatively quickly or take an extremely long time, depending on a number of factors unique to each couple’s situation. Potential areas of contention The most common issues that… Read More »
Divorce: Understanding Your Digital Assets
Dividing property during a divorce can be difficult and sometimes contentious. Decisions about dividing material goods like the residence, a vacation home and investment accounts can be particularly difficult with partners who are splitting. But what about the iTunes account? In New York, property and assets accumulated by a couple during their marriage are considered… Read More »
Splitting Assets and Dividing Debts in Divorce
Many divorcing spouses wonder why they are not entitled to an exact 50 percent split of the household assets, but what they do not realize is that courts divide assets equitably in a divorce — not necessarily equally. Courts consider a variety of factors when deciding how to divide family belongings. A good lawyer can… Read More »