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Posts Tagged ‘property division’

What Happens to Your Business in Divorce?

In a high-asset divorce, all types of property may be involved, from the marital home, vacation home and other real estate to retirement and investment accounts. What many couples don’t initially realize is that their businesses may also be property that is subject to division in divorce. As an equitable distribution state, New York law…

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Will My Spouse Retain Rights to Part of My Employee Retirement Accounts after Divorce?

Employee retirement accounts can represent the largest asset for many married couples providing vital protection for the long-term future of both divorcing spouses. As such, they often become an important issue in a property division settlement in divorce. With occasional exceptions, spouses typically have rights to a portion of each other’s retirement funds, based on…

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Can One Attorney Draw Up an Effective Prenuptial Agreement for Both Parties?

Planning a marriage involves much more than just the process of arranging for the wedding. Your impending marriage forms a partnership that involves everything from buying a home to having children. While you may have difficulty imagining having to address any major issues independently, a prenuptial agreement definitely requires that both parties retain lawyers dedicated…

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Issues Encountered During High Net-Worth Divorces

Divorces for any couple have certain common elements that need to be addressed, including dividing the finances, custody or visitation of children (if any), and spousal support. However, couples who have accumulated wealth during marriage, or who entered into the marriage already wealthy face even more complicated issues unique to high net-worth divorces. Retaining an…

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Separate Or Marital Property?

When considering property division during divorce, the first step is identifying the marital estate. A fundamental and often contested feature of property division is characterization of assets as either marital or separate property. Marital property, as discussed in an earlier blog, is jointly held property like homes or vacation residences, investment and pension accounts and…

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The Most Important Question About Wealth During Divorce

My earlier blogs spoke about the financial considerations of divorce such as retaining the marital home, tax consequences and the business of dividing complicated assets. During divorce, the following points drive the process of equitable property distribution in New York State: Property is divided equitably, not necessarily equally by courts in our state. The court…

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Can I Collect Social Security Benefits After My Divorce?

When couples remain married for a number of years and then divorce, one of the issues they should be aware of is the effect of the divorce on any benefits they may receive in the future. One such benefit is any payment provided under the Social Security program. Later in life, this program provides many…

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Who Should Get the Family Home?

Many times people feel like their home is a comfort zone and it can be a source of stability for children. When divorcing, maintaining the status quo is usually in a child’s best interests. Divorce involves a lot of change and this type of change can be difficult and confusing for children. Keeping some things…

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