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Breaking Up Is Hard to Do

New York Family Law Blog

Postnuptial agreements and spousal debt

A New York resident seeking to get married probably does not want to marry the debt carried by a new partner. Some people worry that if they divorce a spouse with debt, they will be on the hook for some of that debt as well. Still, in the event a person does marry a spouse who is carrying debt, the couple can still address the issue with a postnuptial agreement.

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A postnuptial agreement can save your business

If you are a New York resident in a second or third marriage, revisiting your estate strategy may be beneficial. Unlike most first marriages, subsequent unions may include significant asset accumulation. At Adria S. Hillman, Attorney at Law, P.C., we often help clients protect their assets in the even their union ends.

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Should I worry about estate plan taxes after 2025?

If you have a large estate in New York, one of your main concerns is likely about taxes. You want to minimize the taxes your heirs will pay when they receive their inheritance. When dealing with large amounts of money, taxes could take a good portion of that money. To maximize the benefits for your heirs, you always have to think about the tax impact.

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Is your spouse hiding assets?

As half of a New York couple with very high assets, you will likely run into problems that other individuals without as many assets simply won’t have to face. For example, the higher the assets are in a divorce, the more likely it is that a spouse may try to hide assets from you during the dividing process.

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Proposed rule could allow adoption groups to deny LGBT families

In 2016, the previous presidential administration instituted an anti-discrimination regulation that included gender identity and sexual orientation as protected classes. This made it illegal for adoption agencies and foster care organizations anywhere in the United States, including New York, to deny services to individuals or couples on these bases and still receive federal funding.

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Including all marital property in a divorce settlement

When you file for divorce in New York, there are a myriad of issues to negotiate in your final settlement. Property division may be one of the most difficult topics to tackle, as people become attached to the possessions they have accumulated throughout years of marriage. During the negotiations process, both parties must account for all marital property.

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What can a prenuptial agreement protect?

Individuals in New York who actively purchase stocks, bonds and other equities may protect their ownership rights through a well-written prenuptial agreement. Getting married does not automatically entitle a future spouse to dip into your portfolio; assets traded during your marriage, however, may otherwise be considered marital property.

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Consider work performance when planning for a divorce

High-net–worth individuals contemplating a New York divorce should consider how their work performance might be affected during what could possibly become an emotionally charged event. The process is generally somewhat stressful at least, and if the pressure in one’s personal life becomes amplified, an individual may find that his or her on-the-job performance might be less than normal. 

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A prenuptial agreement can make divorce less stressful

You may not want to talk about a prenuptial agreement with your future spouse. It is understandable that it may be a difficult conversation with someone you love. However, a properly written prenuptial agreement can spare both parties emotional pain and stress when the marriage ends, whether due to death or divorce. It does not eliminate the possibility of conflict, but it can reduce it substantially and offer multiple benefits.

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When stress from high-asset divorce leads to other problems

When a marriage is brought to a close, the experience can be challenging for people from the start of the divorce process until the end. It can be emotionally draining, lead to high levels of stress, and this stress can carry over into other relationships also.

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