Divorces in New York have gotten a lot more costly for those receiving alimony. Recent changes in the allocation of spousal support went into effect earlier this year (2016), causing many to rush and file for divorce. Those who failed to meet the deadline now realize just how much doing so has cost them. In fact, depending on earnings, some are receiving over $100,000 less per year than they expected.
Divorce is difficult enough when you only look at the emotional side. Tearing a family apart is never easy on the spouses' feelings or on the children's. However, ending a marriage can be equally challenging on the financial side. It often means trying to maintain the same standard of living on just one income instead of two. It can also lead to a wide array of other money-related worries -- which makes it no surprise that divorce and bankruptcy often go hand in hand.