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How Mediation Can Help Your Divorce

When you think of divorce proceedings in New York, you may picture a packed courtroom, fighting attorneys, and angry spouses fighting over alimony, asset division, and care for minor children. While this may draw ratings on TV and in the movies, the fact is that many couples choose mediation as an amicable, efficient method for handling their divorce. New York Family Court Divorce Mediation is a highly successful approach to resolving many issues in a…

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How to Tell Your Family You’re Getting a Divorce

Ending a marriage takes an emotional toll on spouses who must address New York divorce laws on alimony, division of marital property, and issues related to minor children. However, beyond the legal process, there is also the matter of telling your loved ones about your decision to divorce. On the one hand, you need the support of your family more than ever during this transition in your life; on the other you do not want…

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Budgeting After Divorce

You and your spouse will work out many financial issues through the New York divorce process, either by agreement or through court determination. Alimony and division of marital property are two of the key areas that the proceedings are intended to resolve. However, it is still critical to consider your future and budget for your new lifestyle. Divorce is a major life transition, no matter how long you were married or level of income. Your…

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Major Factors in Child Custody and Support

There are many things to iron out when a couple divorces. Who keeps the marital home? How will money be split? What will happen to the family pets? If children are involved, child custody and support are also considerations. Should you opt for joint custody? Will you receive child support? Will you be forced to pay it if you have custody? Contrary to what many believe, the courts do not favor the mother. To be…

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Revising Your Estate Plan After Divorce

MarketWatch tells the cautionary tale of a man who died just two months after his divorce was final. His two children from a previous marriage got a rude awakening (and a stack of unpaid legal bills) when the courts surprisingly awarded their father’s life insurance and pension benefits to his ex-spouse instead of the kids. The reason? Despite living in a state that supposedly automatically disinherits ex-spouses after a divorce, the man had failed to…

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The Do’s and Don’ts of Divorce Mediation

When you think of divorce, you may imagine you and your spouse yelling in a courtroom. While the media portrays divorce as a screaming match between the spouses, it doesn’t have to be that way. More and more couples are looking to divorce in a civilized manner, especially when children are involved. Collaborative divorce is becoming more common. Spouses are using mediation and other forms of alternative dispute resolution to solve problems and come up…

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What to Do If You Suspect Your Spouse Is Hiding Money or Assets

A few years ago, the National Endowment for Financial Education (NEFE) released the results of a sobering survey regarding married couples and their finances. Their poll revealed that nearly one-third (31 percent) of couples sharing accounts with a spouse or significant other had been financially deceptive toward their partner. Of these, 58 percent said they had hidden cash from partners. The types of deception included lying about income or debt, hiding bank accounts and credit…

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When Does Spousal Support End?

In a divorce, one of the concerns you may have is whether or not you will be entitled to receive spousal support. Alimony is a hot topic in a divorce, and while $9 billion is paid in alimony in the United States every year, it does not apply to every marriage. For example, two spouses who work and earn the same amount of money and have no kids will likely not require alimony. Maintenance amounts…

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Understanding Marital Property Division

One of the most difficult things about the end of a marriage is splitting up the assets. You and your soon-to-be ex-spouse may be at odds over certain items accumulated during the marriage. Who keeps the car? Who stays in the house? New York is an equitable distribution state, which means that property must be divided as fairly as possible in a divorce. This does not mean that assets are automatically split 50/50, however.  The…

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During and After Divorce: Choosing the Right Financial Advisor

Before moving forward in our discussion, let’s make sure we’ve covered an important base: If you don’t yet have a financial advisor, separate from your ex, choose one as soon as possible. Don’t wait until after the divorce; get an advisor now, while the divorce is ongoing. Why not just keep the same financial advisor you had as a couple, at least while you’re splitting assets and separating responsibilities? We can list several reasons: Your…

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