In New York, if, during the marriage, one spouse earns a degree or obtains a professional license, the enhanced earning capacity is a marital asset which may be distributed as part of the divorce. So, how much is a professional degree worth in terms of equitable distribution? If you are not the person who earned...
“Be careful what you wish for, you may get it.” This adage is particularly true when one spouse seeks the marital home during a divorce. While the marital home may be the single most valuable asset of the marriage, it is also associated with debt, maintenance and other carrying costs; without sufficient income, the costs...
For those whose marriage is in trouble or who are about to begin a divorce, a few strategies can help preserve a business. Once the divorce proceedings start, entrepreneurs won’t likely be able to implement some other legal maneuvers that, if accomplished in happier times, could keep their business from landing in a soon-to-be ex’s...
Essential to every contested divorce is assembling the right team of experts to assist the attorney formulate the theory of the case. This is particularly so when there is a business, a professional practice, a license or an educational degree that requires valuation. Mark Gotttlieb in his blog Forensic Perspectives offers four examples of how...
The sale of a home is always a tension inducing experience. If the transaction is incident to a divorce, the tension increases exponentially. Disagreements can arise over a multitude of issues, including the selection of a broker, setting and negotiating the sale price, apportioning responsibility and the costs of preparing the property for sale and,...
In a front page article, Binyamin Appelbaum in the New York Times explored the newest trend in divorce-third parties are investing in and funding divorces. A funding company “invests” in a divorce and advances the litigant money to pay the costs of the divorce. The litigant repays the loan at the conclusion of the case-...
This is an historic week in divorce law in New York. The recently enacted no fault divorce law becomes effective October 12, 2010. In addition to no fault divorce, three other divorce laws become effective this week including: 1. a new procedures for setting awards of temporary maintenance while a divorce is pending; 2. a procedure...
More couples are entering into pre-nuptial agreements reports Reuters. It is not just the rich and famous looking to protect their assets, more and more middle class couples are entering into pre-nuptial agreements. As reported by the American Academy of Matrimonial Lawyers, increasing numbers of women are asking for pre-nuptial agreements. More women are working...
The promises of an executive to support his girlfriend if they ever broke up are unenforceable. The girlfriend is not entitled to “equitable distribution” of the assets acquired during the relationship. Justice Ellen Gesmer ruled that such statements as “I will always take care of you” and “everything that we put in, we will enjoy...
In the present political climate, health care and medical insurance coverage are hot button topics. But, for those going through divorce, medical coverage has long been a fertile topic for consideration. It was for this very reason that a law was enacted two years ago (and discussed here) requiring parties to a divorce to acknowledge...
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