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property division Archives

Property division info may affect outcomes in New York divorces

Knowing what to expect when it comes to divorce proceedings is not always easy. Many people may have misconceptions about certain aspects of the process or simply lack the correct information altogether. When it comes to property division, a lack of knowledge could result in New York residents ending up with unwelcome outcomes.

Business valuation may play role in New York property division

Business owners often want to put their best efforts forward when it comes to protecting their companies. However, some events may seem relatively unexpected, and parties could find themselves doing damage control in hopes of having their company face minimal impacts. For some New York residents, divorce and property division could be one of those life events that leave businesspeople looking for the best strategies.

New York residents may wish to protect against property division

Planning for divorce as individuals get ready to marry may seem like the wrong approach. However, this type of planning may actually prove practical as New York residents can protect themselves from potential pitfalls that could come along with property division and other proceedings if a divorce takes place down the line. This preparation does not mean that individuals expect their marriages to end, but some would rather be safe than sorry.

Post-nups could provide property division security in New York

A variety of reasons could act as catalysts for individuals considering asset protection. Some parties may realize that they do not want to risk losing their businesses or portions of their businesses in the event they get divorced. Other parties may simply feel that having a safeguard in place could prove useful should property division proceedings ever become necessary. However, some New York residents may feel as if they missed an opportunity by not creating a prenuptial agreement.

Planning, strategy may help with New York property division

New York residents may be interested in a complicated divorce case underway in another state. Reports indicated that over $10 million is up for negotiation as part of the couple's property division proceedings. Apparently, $20 million was awarded to the man due to being wrongfully incarcerated for 20 years. He had been accused of rape and murder, but DNA evidence recently exonerated him. After taxes and fees, he is set to receive $11.4 million.

Prenups settle property division and debt issues before divorce

Before their wedding day, New York couples might want to consider executing a prenuptial agreement. These agreements are not just for the rich and famous; in  fact, anyone getting married could benefit from one. If the marriage subsequently ends, issues such as debt and property division would be decided ahead of time, which could greatly reduce the potential for contention and courtroom battles.

Recognizing signs that your spouse may be hiding marital assets

Financial problems may often lead to discord in a marriage. Nearly one-third of married Americans who share finances with their spouses admit that they have been deceptive about assets and debts at some point during their marriages, according to the National Endowment for Financial Education.

Consider your retirement and your divorce

Marriage can be hard work. For many couples, by the time they approach their "golden years," they may have had enough. Their partner may have become inattentive, mean, unfaithful, or they may have simply aged out of their marriage. Thirty years can be a long time and who you are at 55 or 65 may be a long way from where you were at 25 or 35.

We can help. email or call (631) 615-1724 to schedule a free consultation today.

Phillip J. Jusino & Associates, P.c.

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Divorce: a Practical Guide

Divorce: A Practical Guide

Attorney Jusino’s new book on divorce is an easy read and full of valuable information. Learn More