Michael G. Putter, Attorney at Law Michael G. Putter, Attorney at Law 2026-09-28T07:11:55Z https://www.attorneymichaelputter.com/feed/atom/ WordPress /wp-content/uploads/sites/1303131/2022/09/cropped-Site-MGP-Graphic-32x32.png On Behalf of Michael G. Putter, Attorney at Law <![CDATA[How to handle business valuation in a collaborative divorce]]> https://www.attorneymichaelputter.com/?p=254163 2026-09-28T07:11:55Z 2026-09-28T07:11:55Z Why use collaboration for business valuation? The collaborative divorce process lets spouses address financial issues through negotiation instead of litigation. A neutral professional may review the business and help both sides understand its value. This approach can give spouses more control over timing, reduce conflict and make it easier to shape a settlement around their goals.

What does a business valuator review?

A financial professional may look at records such as:
  • Tax returns and financial statements
  • Revenue, expenses and cash flow
  • Business debts and other liabilities
  • Contracts with clients, vendors and employees
  • Ownership documents and operating agreements
  • Intellectual property and other assets
  • The owner’s role in the company’s income
The valuator may also consider the industry, comparable businesses and whether the business depends heavily on one spouse’s personal reputation or services.

How is the valuation used in a settlement?

Once the value is known, the spouses and their attorneys can decide how to divide the business interest. The business does not always need to be sold. One spouse may keep the business and give the other spouse assets of equal value. In some cases, the spouses may agree to a buyout paid over time with clear terms and safeguards. The final settlement should also account for debt, taxes and liquidity. A business interest is not the same as cash, so those differences matter in negotiations.

Why guidance matters

Business valuation can involve legal, tax and financial questions that are hard to resolve alone. A collaborative divorce team can help spouses understand the numbers, compare settlement options and create terms that fit the overall property division. A clear valuation and well-written settlement agreement can help both spouses move forward with fewer unanswered financial issues.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[How cohabitation affects spousal maintenance in New York]]> https://www.attorneymichaelputter.com/?p=254161 2026-09-22T17:36:46Z 2026-09-22T17:36:15Z What New York law considers Under New York law, a court may end spousal maintenance when the recipient habitually lives with another person and presents that person as a spouse, even without a marriage. This rule does not mean every shared residence ends support. The party seeking to end maintenance must establish the facts supporting termination.

Living together does not always end payments

The details of the relationship matter. A recipient may share a home with a romantic partner, but the court still must assess whether the arrangement meets the legal standard. A written divorce agreement can also change the analysis. Parties may agree to specific conditions that affect when maintenance ends. Courts examine the actual wording of the agreement, and unclear language can lead to disputes about what the parties intended.

Questions that may affect a maintenance dispute

When someone raises concerns about a former spouse's cohabitation, these issues may matter:
  • Does the recipient regularly live with another person?
  • Does the recipient represent that person as a spouse?
  • What conditions does the divorce agreement set for ending maintenance?
  • What evidence supports the request to change or end payments?
New York courts have examined disputes where one former spouse claimed that the other's living arrangement satisfied the legal standard. In a 2026 appellate decision, the court found that the language of a divorce agreement created uncertainty about whether living together alone was enough or whether additional proof was required.

Understanding your rights

Cohabitation can affect spousal maintenance in New York, but the outcome depends on the facts and the terms of the divorce agreement. A shared home does not automatically settle the issue. Understanding the applicable rules and reviewing the agreement carefully can help people make informed decisions about their financial obligations and rights.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[Years after divorce and no QDRO? Steps to take now]]> https://www.attorneymichaelputter.com/?p=254158 2026-09-17T19:59:39Z 2026-09-17T19:59:39Z The basics of the retirement split A QDRO is a court order that instructs a retirement plan administrator to pay part of an account to a former spouse (called an alternate payee). Even if your divorce judgment says you are entitled to portion of the account, many plans will not pay benefits to a former spouse without a QDRO or other plan-approved domestic relations order. A properly drafted QDRO can also prevent tax surprises. If money is paid out under a QDRO and the receiving ex-spouse doesn’t roll it into another retirement account, that payment is usually taxed to the receiving ex-spouse, not treated as taxable income to the employee who earned the benefit.

Why waiting puts your future at risk

If you did not put a QDRO in place when you divorced, it is often still possible to file. However, the clock is ticking. Waiting too long to secure one can complicate matters if your former spouse retires, passes away or remarries. Without this valuable court order:
  • The account holder might deplete the funds through loans or large withdrawals
  • The plan could be terminated or the company might go out of business
  • The beneficiary designations might change, leading to a fight with a new spouse
These issues can turn a straightforward split into a complex legal battle.

Secure your share today

To fix this, you generally need to go back to the court that handled your divorce. You will usually draft the QDRO, submit it to the plan for review, then ask the court to sign it and send the signed order to the plan for acceptance. Even if your former spouse is uncooperative, New York courts often provide paths to enforce the original terms of your settlement. Taking action now prevents small mistakes from becoming permanent losses. While paperwork may be the last thing you want to do after a divorce, finishing this final step ensures your financial future remains intact.]]> by Michael G. Putter, Attorney at Law <![CDATA[When can you seek emergency custody changes in New York?]]> https://www.attorneymichaelputter.com/?p=254156 2026-09-03T18:06:21Z 2026-09-03T18:06:21Z What qualifies as an emergency situation? Courts generally grant emergency custody changes only when a child faces immediate harm. Physical abuse typically meets this urgent threshold. Severe neglect or exposure to domestic violence also qualifies. Substance abuse that directly endangers the child may justify quick action. Credible threats of parental abduction can also warrant emergency help. The legal standard requires more than general concerns about parenting quality. The parent filing must show specific facts. These facts must prove that waiting for a regular hearing would expose the child to serious risk right away.

How to file for emergency relief

Filing an emergency custody petition requires submitting an order to show cause to the family court. This document explains the urgent circumstances and requests a temporary hearing. The petition must provide specific facts about the threat rather than assumptions. The court typically schedules a hearing within days rather than weeks. A judge reviews the petition to determine whether the situation warrants quick action. Legal representation helps ensure the filing meets custody standards for emergency help.

What the court considers during review?

Judges evaluate several factors when reviewing emergency custody petitions:
  • The credibility and specificity of the facts presented in the petition
  • Supporting evidence, such as police reports, medical records and witness statements
  • The need to protect the child while respecting the other parent's right to be heard
  • The urgency of the risk and whether it justifies temporary relief before a full hearing
Emergency orders stay temporary until a full custody hearing occurs. These arrangements protect children on a short-term basis and allow both parents to present complete arguments later. Understanding these proceedings helps parties prepare for both the emergency phase and later hearings.

Protecting a child's safety

New York courts can act quickly when a petition provides clear and credible evidence of an immediate risk. Keeping detailed records can help support the case. Important details may include dates, times and witness information. A qualified attorney can also explain whether the situation meets the legal standard and help with the filing process.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[4 pension details to check in a collaborative divorce]]> https://www.attorneymichaelputter.com/?p=254155 2026-08-27T06:54:53Z 2026-08-27T06:54:53Z Define the valuation date and calculation formula You might agree to share your pension money, but the math formula sets your actual monthly check. During your collaborative meetings, you must review several key financial details:
  • The exact date used to set the marital portion
  • The target retirement age chosen for monthly payment estimates
  • The addition of cost-of-living payment increases after divorce
Setting these basic numbers during settlement talks lets the pension plan manager process your file without sending it back.

Address survivor benefit options and post-retirement protection

A standard property agreement can stop if the pension owner dies. You can protect your long-term share by adding clear survivor choices to your final terms:
  • Early survivor coverage if the working spouse dies before retirement age
  • Monthly income options chosen when retirement begins
  • Beneficiary choices on secondary account features
Spelling out these choices gives you peace of mind that your income stays safe no matter what happens later.

Confirm plan specific rules for private vs. public pensions

In New York, public retirement systems like NYSLRS need a state order called a Domestic Relations Order (DRO). Private tax-qualified plans like 401(k) accounts need a federal Qualified Domestic Relations Order (QDRO), while executive plans use contract terms. Your legal paperwork depends on your account type:
  • State pension systems need specific wording for state approval.
  • Private corporate 401(k) accounts follow federal retirement laws.
  • Executive deferred pay plans rely on separation agreement terms.
Checking your plan handbook during negotiations ensures your lawyer prepares the right court order for your account.

Identify who drafts and pays for the pension division order

Your divorce decree grants your rights, but a separate court order actually delivers your money. Your written agreement should clearly designate operational terms:
  • The spouse responsible for hiring a pension division attorney
  • The split of legal fees and administrative review costs
  • The exact deadline to file final paperwork with the plan administrator
Setting these terms early prevents your order from sitting unfiled for years after your divorce ends.

Protect your retirement rights with knowledgeable legal counsel

Collaborative negotiation gives you control over your property division without stepping inside a courtroom. Speaking with an attorney who understands pension orders helps secure your financial independence.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[5 ways to keep your retirement money safe]]> https://www.attorneymichaelputter.com/?p=254154 2026-08-17T16:47:52Z 2026-08-17T16:47:52Z Don't miss plan deadlines Some retirement plans have strict windows for submitting a QDRO after a divorce is finalized. If a former spouse retires or passes away before the paperwork is finished, you might lose your right to some or all the money. Submitting a draft for pre-approval and filing the final order with the court as soon as the judge signs the divorce can prevent these delays.

Valuation date matters

The value of a 401(k) or IRA changes every day based on the stock market. If your QDRO uses an old date or fails to mention market gains, you could miss out on thousands of dollars in growth. One option is to specify an exact date, such as the date the divorce started. Another option is to include language regarding investment gains and losses.

Handle hidden account loans

If your spouse took a loan against their retirement account, the total balance shown on a statement might be misleading. Without specific instructions, your share might be calculated after that debt is subtracted, leaving you with less. You must decide if the split should be based on the balance before or after loans are paid.

Account for the rising cost of living

A pension payment that covers your bills today may not be enough to live on in twenty years. Many pensions offer cost-of-living adjustments that must be mentioned in the QDRO for you to receive them. If this language is missing, your monthly payment remains flat while prices for goods and services rise.

Secure your rights as a survivor

If the plan participant dies, pension benefits can stop unless the divorce paperwork and QDRO give you survivor-benefit rights. This is a common pitfall in New York divorces involving long-term pensions. Adding these survivor protections ensures you are covered even if your former spouse passes away.
A lawyer can help you manage these technical requirements to protect your retirement assets.
]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[How is a family business valued in a New York divorce?]]> https://www.attorneymichaelputter.com/?p=254152 2026-07-30T17:08:36Z 2026-07-30T17:07:08Z When you have spent years building a business, learning that a divorce could divide it feels stressful and unfair. In New York, a company you started or grew during the marriage often becomes marital property, so you may share its value. First, though, someone must put a fair dollar figure on it. Knowing how appraisers reach that number can help you feel prepared and protect what you built.

Determining which part of the business is marital property

New York is an equitable distribution state, so a court divides marital property fairly, though not always equally. The growth in your business's value during the marriage is generally marital property, even if only your name is on it. A share you owned before the wedding may stay separate, unless marital funds or your spouse's work helped it grow. Because only the marital portion gets divided under New York's equitable distribution law, this line matters.

Comparing the income, market and asset valuation methods

Appraisers generally use three approaches to value a closely held business:
  • Income approach: projects future earnings into today's value
  • Market approach: compares your company to similar businesses that recently sold
  • Asset approach: subtracts debts from what the business owns
An appraiser weighs all three and favors whichever fits your company best. This number often sits at the center of a New York divorce.

Reviewing financial records to identify the company's true earnings

Business books do not always show what a company truly earns. An owner might run personal expenses through the company or pay themselves above or below market rate. To find real earnings, an appraiser normalizes the books by adding back one-time costs and adjusting owner pay. Both spouses must reveal their finances in a sworn financial disclosure, giving everyone the same starting numbers. Accurate records help prevent a lowball or inflated figure.

Accounting for goodwill and value tied to the business owner

Goodwill is the value a business carries beyond its physical assets, like a loyal customer base or reputation. Courts often separate enterprise goodwill, which stays with the company, from personal goodwill, which ties to your own skills and relationships. In many New York cases, enterprise goodwill counts as marital property, while personal goodwill may receive different treatment. This difference can shift the final number, so understand it early.

Using the valuation to shape a workable property division

Once you know the business's worth, you and your spouse can decide how to split that value. You might buy out your spouse's share, offset it with another asset like the marital home or keep co-owning the business in rare cases. A collaborative approach can help you protect the business while reaching a settlement you both accept. Understanding the numbers early gives you stronger footing to choose what fits your future.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[What records can help clarify income for spousal maintenance?]]> https://www.attorneymichaelputter.com/?p=254151 2026-07-10T15:05:10Z 2026-07-10T15:05:10Z Documents that show earnings over time In a New York divorce involving financial issues, each spouse generally must complete a sworn Statement of Net Worth covering income, expenses, assets and debts. You may also need supporting documents, including:
  • Federal and state tax returns from the past three years
  • Current pay stubs and W-2 or 1099 forms
  • Business tax returns and Schedule K-1 forms showing profits or investment distributions
  • Checking, savings and investment account statements
  • Records of bonuses, commissions or retirement income
Reviewing records from several years can show whether bonuses, commissions, seasonal work or payments from a business cause income to rise and fall. A court may average earnings from several years or review other evidence to estimate what the person typically earns.

Documents that may explain changing earnings

If you or your spouse owns a company, receives cash payments or has changing income, additional documents could clarify available resources. Detailed business records, invoices, credit card statements and loan applications may reveal payments or expenses that do not appear clearly on a tax return. These records require context. A bank deposit may represent earnings, but it could also come from a loan, transfer or asset sale. Spending alone does not prove that someone earns more than reported. If a spouse does not provide relevant financial information, an attorney may use discovery, the formal process for obtaining evidence. This may include requesting documents from the spouse or using a subpoena to obtain records from a bank, employer or other source.

Put the financial information in context

Collecting documents is only the first step. Business expenses, one-time payments and transfers between accounts can create a misleading financial picture when viewed alone. Understanding the source and purpose of each amount can help you avoid relying on inaccurate figures during maintenance discussions.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[Documents to gather before meeting with a QDRO attorney]]> https://www.attorneymichaelputter.com/?p=254149 2026-07-07T16:05:58Z 2026-07-07T16:05:58Z Divorce judgment or settlement agreement Your divorce judgment or settlement agreement is one of the first things an attorney will review because it explains how the court divided your retirement benefits. Even if your divorce was finalized years ago, this paperwork provides the foundation for preparing a QDRO. If later court orders changed the original terms, bring those as well so the attorney can work from the most current version of your case.

Retirement plan statements

Recent statements help identify each retirement plan and confirm important account details. If you have more than one account, gather the most recent statement for each one so you do not overlook a plan that may require a QDRO.

Plan information and prior correspondence

Anything you have received from the retirement plan can help answer plan-specific questions. Helpful items may include: These can clarify the plan's requirements and reveal any issues the plan administrator has already identified.

Walk into your meeting prepared

Taking time to organize your paperwork before your appointment can make the conversation more productive and help your attorney determine the next steps quicker. If you cannot find every record, bring what you have anyway. Even if some information is missing, your first meeting can give you a clearer understanding of how to move the QDRO process forward.]]> On Behalf of Michael G. Putter, Attorney at Law <![CDATA[How to protect your financial future in a high-asset divorce?]]> https://www.attorneymichaelputter.com/?p=254147 2026-07-03T17:28:30Z 2026-07-03T17:28:30Z Start with a complete financial picture A strong strategy begins with a full review of assets, debts, income and expenses. It also requires accurate property valuation. You cannot protect wealth that has not been identified or properly analyzed. Clear documentation can reduce disputes, strengthen your negotiating position and support a more informed settlement.

Focus on the asset quality, not just quantity

Not all assets have the same long-term value. Some are easy to access. Others come with tax costs, market risks or limits. When planning for life after divorce, think about the quality of your property, not just the amount. This includes:
  • Business ownership and control: Address business valuation, ownership interests and operational oversight, then decide who keeps proprietary control.
  • Real estate holdings: Plan for the family home, vacation homes and rental properties.
  • Retirement and deferred compensation: Review pensions, retirement accounts and future pay rights.
  • Tax implications: Understand the tax costs of splitting, moving or selling assets. Privacy and reputation: Keep financial details private and limit public exposure.
Setting priorities early can create more room for strategic settlement decisions.

Avoid mistakes that can affect the future

Too often, you may focus solely on current asset value rather than tax liabilities, liquidity or future growth potential. Rushing into a settlement can lead to avoidable losses. Careful planning can help you stay focused on outcomes that support your life after divorce. A high-asset divorce often calls for experienced legal guidance. Legal counsel may work with forensic accountants and tax professionals to analyze asset valuation, trace funds, assess tax consequences and structure settlement options. During the divorce process, informed planning can help protect your financial future.]]>