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property division Archives

Addressing assets now may help with property division later

Though the idea of going through divorce may not be what many soon-to-marry or recently-married couples want to think about, it may be useful to do so. There can be many points of contention that come about during divorce, with property division being a major one. By planning ahead, New York residents could better protect themselves from such potential conflict, even if they never divorce.

Divorce, property division could negatively affect businesses

New York business owners know that even a seemingly small issue could cause considerable problems within a company. Even personal issues among co-owners or business partners could negatively impact the business. In particular, when a person goes through divorce and property division proceedings, business assets and interests could be at risk.

Retirement accounts need extra attention during property division

The time has come to inventory assets and work toward finding the best possible outcomes for dividing those assets in divorce. Many New York residents have likely dreaded this part of the legal process, but property division is usually necessary when marital relationships end. Over the years, numerous items and accounts were likely accumulated, and knowing how to divvy up those assets may not always be easy.

The family home may be main issue during property division

Now that the divorce papers have been filed, many New York residents may find themselves considering multiple aspects of the marriage dissolution process. One area that is often of particular interest involves property division. Because this distribution can have considerable impacts, many people often want to fight for their desired outcomes. One asset that typically garners a lot of attention is the family home.

Prenups may help with property division, asset protection

Getting married can be a joyous time in a person's life. However, this event could also lead many New York residents to consider how such a change could impact finances and other areas. Additionally, they may have even greater concerns about how divorce and property division proceedings could potentially effect their lives. Because of these concerns, creating a prenuptial agreement could be worth consideration.

Property division: Dividing marital debt can be challenging

When a New York couple considers a divorce, there are multiple issues to address. Along with child-related matters, the most challenging negotiations may be related to property division. Not all divorcing spouses realize that debt gets divided just like assets when a marriage ends. A couple can negotiate how to divide debt or leave it for the court to decide. However, it must be noted that creditors have little interest in divorce agreements or court orders and will typically continue to hold those who originally signed for the debt fully responsible.

Prenups may prove handy when it comes to property division

Though getting married can be a wonderful step in a person's life, letting the idea of a happily-ever-after cloud someone's judgment could prove detrimental. Rather than quickly saying "I do" and moving on, individuals may first want to consider how the marriage will affect their lives and, maybe more importantly, what impacts divorce could have. Because property division and other proceedings can cause considerable upset, New York residents may wish to consider prenuptial agreements. 

New York property division: Who's responsible for the mortgage?

Though at the beginning of the marriage, the marital home may have been a haven, it could seem more like a prison if the relationship sours. When it comes time to go through property division proceedings, one party may feel no qualms in allowing the other individual to keep the home. However, the relinquishing party may wish to remain aware of potential mortgage implications.

Pratt, Faris separation may lead to property division concerns

Celebrity divorce cases often draw a considerable amount of attention due to the public nature of the parties involved. Though the specific details of why a relationship ended may not always come forth, information regarding property division, child support and other aspects do tend to make headlines. New York residents may be interested in such information regarding the recent separation of actors Chris Pratt and Anna Faris. 

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.

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

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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