Dividing retirement assets, such as a 401k, is a necessary part of most divorce settlements. As with many other types of marital assets, New York’s equitable distribution laws call for certain retirement assets to divide fairly between divorcing spouses. Since these assets often represent significant financial resources, both parties need to understand how the process works. Understanding when retirement assets…
Divorce introduces several changes in a family’s life, and a child’s education is often one of the major concerns. Parents may wonder whether the child will need to switch schools due to new living arrangements. In Staten Island, decisions about a child’s school often depend on custody arrangements and where each parent lives after the divorce. Custody and school decisions…
There’s no doubt about it; child custody issues complicate New York divorce proceedings, making this already emotional time even more challenging for everyone involved. Whether a judge grants shared custody between the parents or primary custody to one parent, it’s not uncommon for one spouse to consider moving out of state to be closer to family, take advantage of a…
Divorce can be a complicated and emotional process, especially when it involves valuable assets like a cabin or summer house. In New York, handling these properties during a divorce requires understanding the legal aspects and making informed decisions. Determining the value of the property The first step in dealing with a cabin or summer house in a divorce is determining…
When it comes to child custody, two important terms often come up: physical custody and legal custody. While these terms relate to each other, they refer to distinct aspects of parental responsibilities and rights. It is important to understand the difference before you petition the court for your custody rights. What is physical custody? Physical custody refers to where the…
When a divorced parent wants to move to a different state, it can complicate custody arrangements. In many cases, divorced New Yorkers must seek post-judgment modifications to alter existing plans. Understanding custody law and the process of modifying your agreement is important if you or your former spouse is considering relocating to a different state. Custody in New York In…
Since there are many different types of debts, they are all handled uniquely during a divorce. For example, you can have credit cards, mortgages, car loans and medical debts. Here is more about how the court will handle your debts during a divorce. Debt after separation and before divorce You can continue to incur debts after your separation but before…
Since 1989, Americans have had to deal with credit scores. Your score, which a few credit bureaus compile, tells lenders whether you are likely to pay back the money you borrow. Consequently, virtually all financial institutions consider your credit score when deciding whether to extend credit. While a credit score provides a snapshot of your creditworthiness, a credit report offers…
Joint custody allows divorced parents to share the responsibilities of raising children. If you are a parent going through a divorce, you might wonder if joint custody is an appropriate choice for your family. To make an informed decision, it is important to review child custody works in the state of New York. Joint physical custody In New York, the…
If you have a new baby but you and the other parent are not together, you may be in a situation where you have to figure out parenting time. This can be a challenge since, at this point, the child is very dependent. However, assuming the child should only be with one parent is a bad idea. Babies need to…
Setting up a life insurance policy helps provide for your family in the event of your death. However, you and your spouse may have decided to call it quits on your marriage. If divorce is in your future, you probably do not want your spouse to benefit from your life insurance any longer. While you may have the ability to…
Divorce may separate you from your spouse, but it does not have to cause a division between you and your children. Every family has a different approach to co-parenting. The most crucial aspect of any parenting plan, however, is to ensure the safety and stability of your children. Birdnesting, explains Psychology Today, is a co-parenting method that allows your children…
