Alimony, known as maintenance under New York law, is designed to give people who relied on their spouse’s income the chance to meet their financial needs as they transition to single life. Courts consider several factors during an alimony determination, including the paying party’s ability to provide spousal support and the recipient’s needs. Of course,… Read More »
A divorce ends the legal union between spouses, but in many cases, the relationship between the parties continues and evolves. This is especially true when the couple shares children. Though spouses and their lawyers make a significant effort to reach a divorce agreement that everyone believes to be fair, life changes that occur after the… Read More »
Rumors about her divorce led renowned rapper MC Lyte to speak out on Instagram about the end of her marriage to John Wyche and why she’s thankful she signed a prenuptial agreement. Though prenuptial and postnuptial agreements are common among the rich and famous, few other celebrities have been as open about the significant, practical… Read More »
In the early days of the COVID-19 outbreak, New York State and the federal government adopted measures to ban evictions of renters who had lost their jobs or had their hours cut as stay-at-home orders went into effect. The eviction bans were a lifeline for many New Yorkers, including those going through divorce, which added… Read More »
A common question that comes up in family law practice is what happens when someone who comes from a modest background “marries into money” and then gets divorced. Specifically, if one spouse comes from a rich family, does that mean that he or she will never be entitled to alimony payments? While your soon-to-be ex’s… Read More »
A variety of studies have been done over the years into how age at marriage affects the likelihood of divorce. But in terms of actual impacts on the divorce process itself, there are different considerations to keep in mind. Alimony: Alimony is generally meant to be temporary to allow a spouse to maintain their standard… Read More »
The Tax Cuts and Jobs Act, signed into law in December 2017, changed the way alimony payments are taxed for some people. The way tax rules apply to your alimony depends on when you were divorced. Here’s a quick overview of what you should know. Changes to the system The legislation eliminated alimony tax deductions… Read More »
If a court awards alimony to you or your spouse in your divorce, there are several types of alimony awards the court may choose. It is important to know the terms of your alimony arrangement so you can plan accordingly. Here are some examples of these types of alimony. Bridge the gap alimony: This is… Read More »
The rapid spread of the COVID-19 pandemic has left many Americans out of work. Many have filed for unemployment benefits but are experiencing extremely long wait times. Others may have stimulus money coming their way, but for those who do not get direct deposit, there have been reported delays with checks being issued that may… Read More »
Interested in finding ways to make your divorce settlement easier? Here are just a few strategies you could consider implementing. Put alimony in a trust The changes in how alimony would be taxed opened up some new possibilities for how you’ll deal with alimony. The spouse paying alimony is no longer able to deduct the… Read More »