Property division will be different in every New York divorce. Couples acquire different assets and take on different debts throughout their marriages. Whatever they have not already addressed with a marital agreement will be at risk of division in their divorce. ...
Divorce
Your spouse is not allowed to hide assets
The one thing that you and your spouse are in agreement on is that the marriage is no longer working. Divorce is on the horizon, which means there is a lot to sort out. One of the main priorities will be to distribute financial obligations and assets. In an ideal...
Financial steps to take while preparing for divorce
Divorce can be a stressful life event. No matter the circumstances of your divorce, you will be compelled to deal with lengthy paperwork and make difficult decisions. Alongside the emotional toll, divorce can also impact your finances in a huge way. As soon as your...
Divorce changes your standard of living
It’s inevitable that getting divorced is going to impact your standard of living. It’s not just the expenses that go along with the divorce itself, but life can become more expensive in the months and years following that divorce. For example, you and your spouse...
How is marital property divided during a divorce in New York?
When the marriage is over and the couple decides to go their separate ways, one of the most important steps they will take is dividing the marital property. Often, divorcing couples tend to reach a settlement on their own. Sometimes, however, property division may...
How do you protect the investment in your home during a divorce?
There are few guarantees in New York divorces unless you and your spouse have an airtight marital agreement. Otherwise, the outcome of your divorce will depend partially on how well you can negotiate and how well you advocate for yourself. With the possible exception...
2 ways to prepare your child for divorce
You may have already accepted that your marriage is over and that you need to get a divorce. However, your child may still think everything is fine and is going to stay the same. What you do now to prepare your child for divorce can go a long way. Your child can grow...
Will I have to divide my military pension due to divorce?
If you are in the military and are married now, you may be building up your retirement and pension. As you consider the idea of a divorce, it’s your concern that you may lose those assets if you and your spouse separate. It’s possible, but you also may not. It all...
Common ways couples hide assets during the divorce process
When the marriage is damaged beyond repair and divorce becomes the only option on the table, one of the issues the couple will have to work out is marital property division. In New York, this has to be done based on the state’s equitable distribution law....
Tempted to hide assets during divorce? Think again
If you and your spouse have decided to end your marriage, one of the things you may be concerned about is how marital property will be shared. If you have substantial assets, you might be tempted to stack some away from the reach of the court and your soon-to-be-ex....