Retirement plans started after your wedding become part of your marital estate even when only one spouse funded the account. According to the New York State Senate website, marital property consists of assets acquired during a marriage, which could include retirement...
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Property Division
What New York considers when awarding spousal maintenance
When your New York marriage ends, you may ask yourself if you are going to be able to maintain the same lifestyle to which you have become accustomed. If you think you may not be able to do so, you may have a reason to seek spousal maintenance, or alimony, in your...
Is all property divided in a divorce?
While there are many difficult topics to negotiate when filing for legal separation or divorce in New York, dividing marital property may be one of the most overwhelming. Many people become attached to certain items throughout their marriage, and it can be hard to let...
Property division and your greatest asset, the family business
You and your spouse may have decided to end your marriage, but what you may not have decided is what to do with the family business. Your business is an asset that will become the focus of the property division. Basically, you have three options to consider in...
Hiding assets is more common than you think
Under New York state law, parties must disclose their finances during divorce proceedings. Failing to tell the whole truth and nothing but the truth in these circumstances is fraud, and yet many people take the risk and hide assets. Why do people hide assets in...
A form of ‘pet custody’ may be coming to New York divorces
Everyone knows that when parents of minors get divorced, they must work out a child custody parenting plan. But while most people also love their dogs, cats and other pets, there is no such thing as "pet custody" in New York. For now. The state legislature recently...
What is a QDRO?
The retirement accounts are often an issue in a New York divorce, especially when the divorcing couple is older. The divorce agreement or the court could split the accounts between the spouses based on equitable factors. The qualified domestic relations order is what...
Equitable distribution of property and alimony in a divorce
Divorce comes with some special considerations when it comes time to divide marital property and establish alimony payments. When a New York couple gets a divorce, the judges aim to divide property equitably. The basis for equitable division is generally determined by...
Could you retain full ownership of your pension in a divorce?
New York couples heading into the divorce process are likely preparing themselves to deal with a tough emotional and financial process. Apart from dealing with issues like who gets the house and who gets custody of the children, you also want to consider your pension....
Divorcing as a female business owner
New York female business owners who are getting ready to undergo a divorce likely have a lot on their minds. From dealing with property division to figuring out what will happen to your business in the future, there are a lot of aspects that you'll have to address...
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