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The Grey Area: How Retirement Funds are Split in Divorce Cases

pension and divorce long island

A Pension is probably the biggest amount you and your partner will need to divide when you decide to divorce. According to the American Academy of Matrimonial Lawyers' survey in 2016, retirement plans are one of the top three most contested items in a divorce, second to alimony. What's surprising is that your pension can be divided even while you're still paying for it. Keeping this in mind, the state of New York has put special rules in place to keep the split fair. Learn how divorce can affect your retirement funds. A Pension is Marital Property Subject to Equitable Distribution The Office of...

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Breaking Up is Hard to Do: 3 Tax Strategies that Make Divorce Settlements Easier

divorce and tax long island

When you strip away the emotions that often surround it, many divorce proceedings come down to numbers. It may sound harsh, especially if you have children to think about, but it's true that the numbers matter: from the amount of alimony, to the amount of child support and dividing up assets. This is why divorce settlements are never easy. As any divorce lawyer in Suffolk County can tell you, the overhaul of tax rules has changed the computations for divorce settlements. Apart from determining who gets what, there are numerous tax implications that come with divorce, especially with the new modifications to the...

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A Better Understanding of Maintenance or Alimony

divorce maintenance alimony long island

Divorce is not an easy process and it can pose many challenges during the case. However, if you think ending your marriage would be best for you and your spouse, there are ways to make the process a little less stressful. Attorneys may advise both parties to cooperate and follow legal processes to expedite the finalization of the divorce and take a more along the successful. They may also suggest some ways to make the process more beneficial for partners. Maintenance is among the many topics discussed during a divorce. Also called 'alimony' or spousal support, maintenance is the money given...

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Dissipation of Assets or Reasonable Spending: What is Marital Waste?

dissipation of assets long island divorce

Property division during divorce is a contentious issue that couples must resolve before they part ways. The state’s statutes heavily influence the court’s decision regarding property division (be it equitable distribution or community property). Some divorcees, however, feel entitled to a larger portion of the marital funds, claiming that their soon-to-be-ex spouse’s financial mismanagement or irresponsible spending habits “wasted” their funds. Understanding the Concept of Marital Waste Marital waste refers to the intentional dissipation of assets by one spouse for their personal benefit. This occurs when one party squanders shared finances or other marital assets for designer clothing, extravagant vacations, and other lavish ventures. In...

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Moving Out & Moving On: Relocation Rights to Consider

Divorce Relocation Long Island

After a divorce, it is not surprising that either you or your ex-spouse will want to completely move out of your home and move on somewhere else right away. However, before you can start looking for a new place to live, consider that divorced parents cannot simply pack up and leave the state. If you have children, the children's best interests and the non-custodial parent's visitation rights cannot be compromised. In such cases, it is best to have a family law attorney in Long Island help you receive the court's permission to relocate outside of New York. While some instances can be resolved quickly...

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Parental Alienation: Bad-Mouthing Your Ex to Your Kids Can Have Serious Consequences

parental alienation long island

When a marriage dissolves, it is only the relationship between the ex-spouses that ends, not the relationship between children and their parents. Unfortunately, some divorced parents hold grudges and take pains to make their ex-spouse look bad to their children. This type of behavior is called parental alienation. It often happens to couples coming off an unpleasant divorce. They are more likely to denigrate or disparage an ex-spouse with the intent of damaging the latter's relationship with the children. They might even prevent the children from seeing or communicating with their ex. Courts do not take parental alienation lightly. In fact, it...

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Irretrievable Breakdown as Grounds for Divorce: A Peaceful Way to Separate

divorce lawyer long island

For decades, New York maintained conservative grounds for divorce. Up until 2010, divorcing couples had to prove in court that one party had committed adultery—the only cause the state recognized as reason enough to end a marriage outside of abuse, imprisonment, and abandonment. New York's strict divorce laws were meant to discourage non-residents from flocking to the state to take advantage of lax divorce laws (as is the case in Nevada). Unfortunately, it also resulted in New York couples colluding to commit fraud. Reports say that desperate couples would agree to fabricate stories of cheating so they could get divorced. The state's decision...

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Traditional Custody Isn’t The Only Arrangement Available to The Modern Family

Child Custody Lawyer Long Island

Earlier divorce cases saw a trend in parenting arrangements: the children would live with their mother and only saw their father during the weekends. Back then, barring any complications, mothers served as the primary caretakers while fathers were the occasionally present breadwinners. Times have changed, however. The "traditional" family set-up is no longer applicable to everyone as more mothers serve as the family's breadwinner (40 percent of American households have working mothers, says the Pew Research Center). Both parents are now also more actively involved in raising their children. In most cases, neither parent identifies as the children's primary caretaker. Modern parenting...

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Should You and Your Spouse Opt for Divorce Mediation?

Divorce Mediation Lawyer Long Island

Divorce proceedings are taxing to all parties involved: you, your spouse, and even your children if you have any. However, many couples are not aware of an alternative form of divorce settlement called divorce mediation, which does not require divorce proceedings in court. And if you choose to proceed with divorce mediation, why not acquire the services of the Law Offices of Ian S. Mednick, P.C.? We provide experienced divorce mediation services in Long Island and are committed to helping spouses find a mutually beneficial agreement without stepping foot in court. Settle Amicably Unlike lawyers and divorces that use litigation, a divorce mediator is an objective third...

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How Getting a Divorce is Better than Staying in a Toxic Marriage

divorce in long island ny

Marriage is not easy; it takes time, constant communication, and effort. But when the inevitable happens, you have to make the difficult choice of filing for divorce. The stigma of ending something you think you can save might be heartbreaking, but ending a marriage does not have to mean the end of you. If you are stuck in a difficult marriage, The Law Offices of Ian S. Mednick P.C. might be your lifesaver. Debunking Divorce Myths While the misconception that almost half of the marriages end in divorce is not true, there is no denying the fact that divorce rates in the U.S. have steadied. According...

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