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Posts tagged "Divorce"

Health savings accounts must be addressed during divorce

Health savings accounts may seem as though they have been around forever. The reality is that they have been in existence in the United States for only 13 years. As a result, those who are going through divorce in New York may understandably not know how to deal with them during the process of property division.

Divorce aspects may impact financial lives of New York residents

Dealing with money problems under any circumstances can prove stressful. When New York residents go through divorce, they may find that their finances have taken much harder hits than they were expecting. As a result, they may begin looking for ways to get their financial affairs back on track while continuing to provide for themselves and their families.

Prenuptial agreements may be of use to New York business owners

Some New York residents may wait until they have reached a successful career point before getting married. However, after obtaining a certain amount of wealth or seeing their businesses reach a milestone, individuals may feel concerned that they could potentially lose some of their hard-earned wealth in the event of divorce. Luckily, prenuptial agreements could help protect those assets. 

Financial strategies during separtion to consider before divorce

For many couples in Long Island who are considering ending their marriages, the first step may be a trial separation. Regardless of whether it ends in divorce or not, a physical separation often gives each spouse the time to consider what a divorce would mean and whether it is the right decision. While a separation tends to be an emotional time, it still allows an individual an important opportunity to take the steps necessary for ensuring that his or her personal financial situation is well-handled.

Asset and property division considerations in New York divorces

Statistically, the month of March brings with it a peak in the number of divorces that occur annually. Researchers theorize this is at least partially due to the holiday season and its accompanying stresses, ultimately culminating in formal divorce proceedings several months later. Regardless of the cause, these statistics mostly mean that this is a time many residents of New York will be facing the emotional stresses and financial issues that accompany divorce, from determining property division to understanding how the end of their marriage may affect retirement savings.

Ending long-term marriages may bring unique divorce legal issues

At a time when splitting up has grown less common among younger generations, the opposite is proving true for the age group commonly referred to as baby boomers. In fact, among individuals over the age of 50, the rate of divorce has essentially doubled since the 90s. For New York couples considering ending their marriage later in life, this trend may bring with it its own unique set of divorce legal issues.

Legal advice can help safeguard against common divorce mistakes

In New York and across the nation, one thing tends to hold true:  people love to give advice. When it comes to divorce, though, the problem is that while each well-meaning individual has facts to swear by, many of these turn out to be false. Even worse, quite a few of the most common mistaken divorce beliefs are not only incorrect, but potentially dangerous, at least in a financial sense.

Some financial tips when considering a divorce in New York

Whether it is due to extra stress around the holidays or simply wanting to start the new year off with a clean slate, more individuals file for divorce in January than at any other time during the year. However, while divorce can mean a new start, it is not something to rush through, as there are a lot of financial aspects to consider. When a resident of New York decides that he or she is ready to legally separate from a spouse, there are a few financial issues it can be beneficial to remember.

Why New York couples considering divorce might not want to wait

Common practice holds that most couples wait until after the holidays to seek to end their marriages. In fact, this occurs so frequently that the Monday after the holidays has earned the nickname "Divorce Day" in legal circles. This makes a certain amount of sense, as many people don't want to do something they fear might ruin the holidays for their families. However, there are a few reasons why someone in New York considering legal separation might want to go ahead and take the first step now.

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