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divorce and family law Archives

Child support collection methods strengthened

More than $33 billion in child support payments are gathered annually in the United States. The vast majority of those payments are engineered through payroll deductions. New York parents dependent upon payroll deductions for their child support might be interested in knowing that the federal agency charged with overseeing the collection process is making changes to eliminate some procedures that result in missed payments.

Retirement funds require precision in divorce

Retirement accounts are often the single largest asset held by New York couples who decide to divorce, and this can mean that dividing them is a complex and emotionally tense issue. Divorce lawyers agree; 62 percent of those who replied to a 2016 survey said that retirement accounts were the most contentious issue their clients faced. As these funds are key to the financial security of both partners, dealing with them appropriately in divorce is critically important.

Planning for divorce is a form of insurance.

Most couples in the White Plains, New York area are not considering divorce while they are planning their wedding. But many financial advisors will tell those planning on a marriage together to plan for the possibility of divorce and look to protect their personal assets.

Tax code changes to alter spousal support splits

For people in New York and elsewhere around the country who are seeking a divorce, alimony and spousal support can be some of the more complex financial issues that are addressed in a settlement or court order. Property division and other financial aspects of the end of a marriage can also lead to lengthy, contentious negotiations and filings. These issues could become even more complex after the U.S. tax bill adopted in December 2017, which introduces changes to a long-standing tax rule related to spousal support, goes into effect.

Why a prenuptial agreement may be at risk

Legal challenges to a prenuptial agreements are not a new concept, but many people may think that such a move is ill-conceived. This is due to a long standing myth about prenuptial agreements: that they are somehow impervious to being overturned or deemed invalid. In fact, that is not the case at all. Prenuptial agreements can be overturned (in part or wholly) if they violate a number of potential legal issues.

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