Category Archives: Property Division

How To Complete the Net Worth Statement in Your Divorce

If there is a single most important document in connection with your divorce, it would be the statement of net worth. So what is it, and how do you fill it out? A net worth statement is a document prepared at the beginning of a case and, as its name suggests, sets forth your net…
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Do You Need a Pre-Nuptial Agreement

Pre-Nups are not just for the rich and famous.   Virtually any couple getting married can benefit from having one. As I detail in this video (click on the above photo), the pre-nuptial agreement can: focus a couple about how they will handle finances  and their assets during the marriage; assist with estate planning;  and address…
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Statement of Net Worth In New York Divorces: Mandatory Financial Disclosure

Twice in the last month, the tabloids made much ado about well-known divorcing couples demanding financial disclosure early on in their divorces.     In both the Rudy Giuliani and Donald Trump, Jr. divorces,  both husbands demanded that their soon to be ex-wives produce a Statement of Net Worth causing the press to sound the alarm that…
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Long Separation, No Divorce? No Equitable Distribution!

What happens when a couple separates, but for some reason, despite the passage of time, don’t divorce?   Suppose still further that during the long separation when the parties have been married but living separately, one of the parties acquires some wealth? Are the assets acquired during the long separation marital and subject to equitable distribution?…
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Who Gets the Dog in a New York Divorce: New York Pet Custody

  Pet custody continues to be one of the hottest topics in divorce law.   Divorcing couples will go to war to fight for custody of their beloved dog or cat. Until recently there was no clear standard for pet custody cases; it was not clear whether New York divorce courts would treat dogs and cats…
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Can I Keep the House after My New York Divorce? Should I?

When a couple is divorcing, disposition of the marital home can be one of the biggest issues of contention. The house is often the parties' most valuable asset, but the home mortgage may be the couple’s largest liability. Issues arise when one of the parties wants to keep the house. In the best case scenario…
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How Marital Property is Valued in a NY Divorce

People contemplating divorce are often worried about how their property will be divided. This concern may be heightened in certain circumstances, such as when children are involved or when one of the parties does not work outside the home. In New York, property is first identified, then classified as either marital or separate property. Then,…
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More Money, More Problems: 3 Big High Net Worth Divorce Mistakes

The stakes are high in any divorce. During a divorce, decisions are made that will affect the course of the rest of your life emotionally, practically, and financially. The stakes are even greater – and more complicated – in a high net worth divorce.  Complicated ownership “schemes” of significant and diverse assets can make it…
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