New York Family Law Blog

For many couples, their retirement accounts are some of the biggest assets they have. These are meant to work to support their household as they grow. But, that’s not how things are going to go if they go through a divorce. 

Does divorcing always mean that the family business has to be dissolved or that one party has to buy out the other for the business to go on? Not necessarily. There are times when a couple will decide to retain their respective portions of their company.

Social media is a great way to stay in touch with friends, family and colleagues. It enables individuals to share news of their children’s milestones, their professional accomplishments, family trips, and gatherings with friends. This enables us to feel connected, especially if going through a challenging time. However, those who file for divorce need to be very careful about what they do, say and post online.

If you are preparing a postnuptial agreement or you wonder whether an existing agreement is enforceable, it is vital to go over the validity of the agreement. Postnuptial agreements carry various benefits and help many married couples ease their concerns. However, some people are able to challenge these agreements, rendering them invalid.

There are several financial elements of a divorce that you may not be able to avoid, like filing fees and refinancing your mortgage. However, the behavior of the spouses themselves can also have a tremendous impact on how much a divorce can ultimately cost.

In many cases, people can make serious errors during the process that ramp up the cost of divorce.

If you are approaching a divorce and you have a high net worth, there are various facets of ending your marriage you need to consider. From custody to financial matters, the way in which you approach this process will have a significant impact on your future. Moreover, you need to make sure you familiarize yourself with various financial topics that arise due to divorce, such as filling out a Statement of Net Worth form.

In divorce, it isn’t always easy to determine beforehand how property will be divided up. One of the reasons for this is that states have different rules regarding division. In addition, general rules pertaining to property division often have exceptions that can apply depending on the circumstances. Take property received by inheritance, for example.

Splitting assets is hard enough during divorce. When it comes to retirement accounts like IRAs and 401(k)s, the problem becomes even more complex. Unlike other assets, special considerations must be made. There are a few methods to divide retirement accounts during a divorce. The following strategies are effective for many couples, and they might also be right for you.