When you get married, you likely do not expect to split your shared digital music and photo collections. Still, in today's divorces, these digital assets are becoming more important. Knowing how to identify, value and divide them is essential for a fair divorce...
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Property And Asset Division
When is the right time to draft a QDRO during divorce?
Some divorce scenarios are more challenging than others. When couples stay married for longer and share more property with each other, they may have a difficult time separating their finances when they divorce. Particularly when assets have a strong association with...
It’s surprisingly easy to forget major assets
During a divorce, couples need to split up the assets that they own. Many of these are obvious from the beginning of the process and will never be forgotten. Examples include a family home, a family car, a shared bank account or other things of this nature. This is...
Important property division considerations
One of the most complex things that people going through a divorce have to do is take care of property division. This effort may become particularly challenging when a couple has considerable assets and debts that need to be addressed. It’s critical for anyone in this...
Why are younger couples embracing prenuptial agreements?
Social stigma about prenuptial agreements was once quite common. People judged those who requested prenuptial agreements, often by assuming they did not intend to fully commit to their marital relationship. Thankfully, that practice has changed in recent years....
How can separate property become marital property in New York?
New York is an equitable distribution state, which means that during divorce litigation, property acquired during the marriage is typically considered marital property and subject to equitable distribution between the spouses. However, separate property may be...
3 questions to answer about marital homes during New York divorces
Someone who is preparing for divorce in New York likely has a lot of issues to address. There are the immediate practical needs of establishing separate finances and obtaining the right support for divorce proceedings. People also need to learn about state rules so...
The rules about pets in New York divorces have changed
Certain issues that commonly come up during divorce are likely to cause conflict. Any matters that trigger people's emotions have the potential to cause intractable disputes. Many divorcing couples find that their pets become a hot-button issue during their divorces....
The problem with commingling your inheritance
When you first receive an inheritance, it likely belongs only to you. Even if you’re married, your parents can give the inheritance to you as a separate gift that is not intended for both you and your spouse. This makes it a separate asset, rather than one that is...
What are the limitations of a prenuptial agreement?
A prenuptial agreement, or prenup, is among the most effective tools that couples can use to outline their prospective division of assets and liabilities in the event of divorce or death. It comes in handy for protecting certain assets and financial interests that...