Determining Maintenance in New York

Maintenance, formerly called alimony, is financial support one spouse provides for the other during and/or after divorce proceedings. Maintenance is used to allow the supported spouse to maintain the lifestyle to which he or she is accustomed and to provide him/her with an opportunity to ‘rehabilitate’ and develop the skills or undergo the training necessary to be financially self-sufficient. Continue reading “Determining Maintenance in New York”

Tax Filing Considerations for Divorced Couples

As April 15 quickly approaches, more people are seeking to file their taxes each day. However, for couples who have recently divorced, filing taxes may present unique challenges. Many find themselves asking similar questions regarding how each individual will file their taxes during and after divorce proceedings, which spouse can claim the child or children as dependents, and whether or not alimony and child support are tax-deductible. Continue reading “Tax Filing Considerations for Divorced Couples”

When to Challenge a Prenup

A prenuptial (or premarital) agreement is a legally binding contract that a couple will establish prior to marrying and comes into effect once they tie the knot. Prenuptial agreements can specify how present and future financial assets, investments, property and money will be divided, should the pair divorce. Under certain circumstances, the specifications of the prenuptial agreement may be adjusted and, in some instances, the entire prenuptial agreement can be deemed invalid. Continue reading “When to Challenge a Prenup”

Divorce Rate Doubles Among Older Couples

According to a 2013 study published by Bowling Green State University, the divorce rate among middle-aged and older adults has doubled between 1990 and 2010. “Gray divorce,” a divorce that occurs among people age 50 years or older, accounts for 1 in 4 divorces in the United States, and nearly 1 in 10 divorcées are age 65 years or older. Continue reading “Divorce Rate Doubles Among Older Couples”

For Better or For Worse: Divorce and Social Media

Social media networks and digital communication have altered 21st-century relationships. Designed as a means of bringing people together, more couples today are contributing to their breakups or divorces by posting nasty comments about each other on social media. Many couples are unaware of the consequences these posts have on divorce settlement negotiations as well. Continue reading “For Better or For Worse: Divorce and Social Media”