Postnuptial agreements may help provide some stability in a marriage—happy or otherwise. It helps to establish what should happen to various assets in the event of a divorce by defining separate property between you and your spouse. It may also help manage wealth,...
High Net-Worth Divorce
How to prepare for a high asset divorce
If you divorce late in life, you probably have a lot of assets you want to protect. New York follows equitable distribution law, so you cannot predict how the courts divide your property. However, there are ways to take some control of your finances and improve your...
Can my spouse take back a gift during our divorce?
Over the course of your marriage, you and your spouse likely gifted each other many different items for birthdays, holidays and special occasions. When it is time to divide your assets during a divorce, you may want to keep a gift from your former partner,...
Extra expenses to consider during a divorce
One challenge of dealing with a divorce involves figuring out a number of expenses associated with the process. These typically include court costs and fees and the amount the parties pay an attorney that vary due to many factors. As part of the entire process,...
3 High-asset divorce mistakes people often make
When couples with considerable assets face divorce, the stakes are usually high for each individual and could result in serious financial strife in the future. CNBC notes that in the past year, the rate of divorce-related loan applications spiked to more than 50% as...
How can you prepare your finances for divorce?
Before the divorce, emotions are still fresh and fear of the future may be overwhelming. One of the significant uncertainties revolves around a couple's finances. Do not wait until you find yourself amid divorce proceedings to prepare your finances for the split....
Assets in a high net-worth divorce
Divorce involving high net-worth individuals can be a complicated matter in New York. There are a lot of income sources and assets to consider, and it is easy to make mistakes that lead to big tax bills or missed opportunities. This is especially true with executives...
Combating a spouse who resorts to the dissipation of assets
The bitterness rose to the top. Then came time for payback in the eyes of your estranged spouse. He did not want you to get your fair share of marital assets, so he set out to hide, spend and destroy them. He would do so through the “dissipation of assets,”...
How can you tell whether you need a postnuptial agreement?
Married couples in New York share assets. As a result, if a couple ends up choosing to get a divorce, they would have to divide their assets and property in an equitable manner. While many couples don’t go into their marriage thinking about possibly splitting up in...
How do stock options from your employer get divided in a divorce?
Going through a divorce is often difficult for couples in New York and elsewhere. If you have stock options from your employer that are doing very well, it can be even more stressful as you have to split these assets with your spouse. It's important to know how the...