Aside from a house, most people’s 401(k) retirement plan is the most significant asset they own. What happens to the 401(k) during the divorce process? Who gets the 401(k)? 401(k) are owned individually, not jointly. Your spouse can be named as a beneficiary, but you are the sole owner—and the same goes for their retirement… Read More »
If your marriage is ending due to infidelity, it can add a significant emotional burden to the divorce process. Most spouses want to know whether they can hold the infidelity against the cheating partner, to get a better divorce settlement. How does New York treat infidelity? Although New York does recognize adultery as grounds for… Read More »
If you’re getting divorced, it can make the college financial aid process more difficult. Children of divorced parents will have to provide financial information for both households. They may have wildly different financial aid offers, too, when schools use different methods to determine how much divorced parents can afford to pay. Here’s how to navigate… Read More »
Although divorce mediation is typically easier and more cost effective than going to court, it can still come with its share of frustrations. Here are four common issues that come up during divorce mediation, and how to handle the stress. Your spouse is inflexible Generally, divorce mediation should be a more collaborative process than going… Read More »
The rate of divorced people 50 and over is increasing. Often, couples grow apart as they age and their situations change. Since divorce is not as frowned upon as it once was, more people have decided to go their separate ways. In fact, the divorce rate for people over 50 has actually doubled since 1990…. Read More »
Many people have the misconception that you need to legally separate before you get divorced. Legal separation is an option in New York, but it’s not required. Here’s what to know about legal separation and whether it might work for you. What is legal separation? Legal separation formally divides your assets and creates an agreement… Read More »
When you’re negotiating custody and child support issues, the issue of cell phones—and who pays for them—may come up. If your child is old enough to have a cell phone, many couples debate about whether child support should cover it, or if that’s considered a “special expense.” What is a special expense? These special expenses… Read More »
Parenting plans outline your expectations on how you and your co-parent will raise the children. Your divorce mediator will guide you through creating a parenting plan, but it never hurts to prepare potential topics ahead of time. Here’s what to include in your parenting plan: Healthcare decisions: Make sure that you and your ex come… Read More »
Even amicable divorces can be emotionally difficult. While mediation is a more collaborative process, it can still become charged. Spouses may find themselves sad, hurt or outraged at their ex’s conduct. However, it’s important not to rise to the bait. Here’s how to emotionally prepare for mediation and stay calm during the sessions. Ask for… Read More »
Dividing up assets can be a difficult task, even during amicable divorces. One of the biggest challenges is determining what to do with the family home. You might want to keep the home to preserve your children’s sense of stability, or one spouse may not have the funds to buy their ex out of their… Read More »