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July 2017 Archives

Unanticipated costs may catch spouses off guard during divorce

If two spouses are having a hard time getting along, then getting divorced may not be a bad idea. This is true despite how heartbreaking, taxing and stressful divorce can be. Being prepared for often unexpected costs can make the divorce process a bit easier to manage in New York.

Deception on part of spouse can be costly during divorce

During a marital breakup in New York, spouses sometimes find out that the other party has been hiding property or reporting less income than was actually learned. In every divorce proceeding, each spouse is legally obligated to disclose any and all expenses, debt, assets and income. Unfortunately, some divorcing parties try to steal, lie or cheat in an effort to keep more assets for themselves.

Knowing finances an important part of divorce

The process of dissolving a marriage in New York is not just an emotionally challenging experience -- it can be a financially difficult one too. A U. S. Government Accountability Office report from 2012 indicated that divorce can lead to more than a 40 percent decrease in income for females. Meanwhile, this drop is more than 20 percent for men.

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