Once a divorce action is filed, the couple’s financial relationship changes even though the marriage is still intact legally. This has important ramifications for both parties as it affects what is considered their income, expenses and assets. Generally, filing for divorce begins the process of … [Read more...] about What Are Your Obligations to Maintain Property During the Divorce Process?
Generally, New York courts favor allowing spouses to resolve their divorce disputes on their own. As a result, if you signed a settlement agreement with your former spouse, a court will most likely enforce it. However, your divorce settlement agreement can be challenged or set aside if you can … [Read more...] about Can You Challenge or Set Aside a New York Divorce Settlement Agreement?
When one spouse owns a business in his or her name only, the other spouse is still entitled to a share in the value of the business in divorce. The rules governing how that share is calculated is set forth in New York statutes. The law considers various factors including when the business was … [Read more...] about How Do Indirect Contributions to a Business Affect How the Business is Divided in Divorce?
When one spouse gets health insurance coverage from the other spouse, losing that coverage can have serious implications. Health insurance is expensive, especially for an individual policy as opposed to one from an employer. Because of the high cost, it is important to understand the rules governing … [Read more...] about What Happens to Health Insurance Coverage During and After Divorce?
If you or your spouse owns a business and decide to divorce, an important issue is how that business may be divided. When parties divorce, their marital property is subject to equitable distribution. New York has specific rules governing equitable distribution, although the parties also have the … [Read more...] about Dividing a Business in Divorce When Both Spouses Work in the Business
After a divorce, it is common for the marital home to be sold unless one party wants to buy out the other party’s interest in the home, or if the couple has young children and the couple can afford to maintain the home for them. To the extent the party’s agree or there is a court order directing … [Read more...] about How Are Proceeds from the Sale of the Marital Home Divided After Divorce?