Divorce: What Happens to Your Retirement Accounts?

Partner Gayle Rosenblum was invited as a guest on Heller Wealth Management's podcast, "The Retire Right Podcast." In this episode, Larry Heller and Gayle Rosenblum discuss the financial considerations that go along with divorcing later on in life and explore the special challenges that older adults face when they're going through a divorce. Gayle explains how retirement accounts and assets can be divvied up between spouses as well as how a divorce can impact Social Security benefits, health insurance, and life insurance. Tune in and gain some insight on the financial side of a golden-year divorce. Listen to the podcast: The Retire Right Podcast: Episode 21 – Divorce: What Happens to Your Retirement Accounts?  

By |2021-03-16T18:38:21-04:00June 13, 2018|Matrimonial Divorce Law|

The New (Divorce) Tax Law…and Race to the Finish Line

In December of last year, the president signed into effect a new tax law. Among other things, this law will affect the tax impact of the payments of spousal support (also called maintenance or alimony).  Effective January 2019, spousal support will no longer be deductible by the person paying it and will be taxable to the person receiving it.  The practical problem with that is, in the past, the deductibility of maintenance was used as a negotiating tool to which helped parties arrive at settlements for the payment of spousal support. The deductibility of maintenance was of value to the spouse that was paying, due to the fact that it would generally cost the payor [...]

By |2021-03-16T18:39:34-04:00March 29, 2018|Matrimonial Divorce Law|

Post-Divorce: The Power of the Paper Trail

Once the divorce papers are signed, it’s not over. If there is a financial obligation between two individuals, then there will remain an on-going relationship between them. Here are some tips to make those interactions as smooth as possible. Child Support If a parent is not paying child support as required, there are a few possible courses of action you can pursue. You could potentially have payments made through the child support collection unit, wage garnishment, and/or income execution. You could also seek a money judgment from the court. If, after exhausting these less drastic remedies, you are unsuccessful, then you could seek contempt from the court which could entail punishment by incarceration. Other Child-Related Expenses [...]

By |2021-03-16T18:39:34-04:00January 26, 2018|Matrimonial Divorce Law|

Five Tips to Help You Get Through Divorce

Going through a divorce can be stressful. Knowing what to expect can help you face the challenges you’ll encounter and increase your resilience. Here are five important facts about the divorce process that you should be prepared for, and tips to take into consideration. Divorces are emotional and difficult. Whether you’re the one who wants the divorce, or whether your spouse is the one who wants the divorce, it’s still going to be a big life change for you. It’s important to have a support system in place. While ultimately things are likely going to be better for you down the road, you’re still going to have to get through the process. It’s important to choose [...]

By |2021-03-16T18:39:34-04:00December 6, 2017|Matrimonial Divorce Law, Tips|

Help Your Lawyer Help You! 3 Tips to Keep in Mind

Many people going through a divorce or other family law related matter have limited experience working with a lawyer; some may have never before hired a lawyer. Others may have prior experience in matrimonial litigation or in other types of cases. The tips below will help anyone going through a divorce, regardless of how many times you’ve worked with a lawyer before your current case. Tip #1 It’s all right to ask questions. Write down any questions you have before meeting with an attorney. If you’re prepared in this way, you won’t forget to ask any questions you thought of before the meeting. Remember: there’s no such thing as a silly question. You should walk out [...]

By |2021-03-16T18:38:21-04:00November 16, 2017|Matrimonial Divorce Law, Tips|

3 Tips for Divorced Families to Survive the Holidays

Below are three tips for how to deal with issues concerning your children post-divorce during the holidays. Tip #1 Try to have whatever parenting time schedule you are going to follow worked out before the holidays. Do not wait until December 23rd to work out your holiday and vacation schedule. (And if you need assistance from your lawyers, do not wait until the last minute to contact them.) Tip #2 Keep in mind that this is a time of transition for your children. If it is their first holiday without both parents, it is going to be difficult for them. The best thing you can do is try to facilitate them having a happy time with both [...]

By |2021-03-16T18:39:34-04:00November 10, 2017|Matrimonial Divorce Law, Tips|

Paper, Paper, and More Paper That Should NOT be SHREDDED or Otherwise Disposed Of!

Burden of Proof for Retaining Separate Property Upon Divorce In a blog post earlier this year, we discussed the importance of maintaining a paper trail in post judgment matters, as it relates to the collection of various expenses. Similarly, documentation to support the burden of proof is a crucial issue for divorcing couples, who may just assume that—1. because they had an asset before they were married; 2. inherited an asset before or after they were married; and/or 3. received a monetary award in connection with a lawsuit—the asset/award is automatically theirs. However, it is not that simple! “Who has the burden of proof? Is the burden on me or you with regard to maintaining separate property?” The [...]

By |2021-03-16T18:38:21-04:00October 16, 2017|Matrimonial Divorce Law, Tips|

Why It May Be in Your Best Interest to Settle a Divorce Out of Court

A divorce trial is sometimes necessary, but it is almost always best to settle your matter as opposed to having a judge decide your fate. Ultimately, the things that you say in court that you think are going to help you might end up hurting you. Moreover, most good judges and lawyers will tell you that you are better off having input and fashioning your own agreement rather than allowing a stranger (the judge) to decide your future based upon what he or she may hear in testimony. In the context of a divorce, litigants are emotionally entrenched in their positions, and they may think: How could the judge possibly not see that what my [...]

By |2021-03-16T18:39:34-04:00September 26, 2017|Matrimonial Divorce Law, Mediation|

What If My Spouse Has Unreported Income?

It’s not uncommon to find that somebody who is living a $300,000-a-year lifestyle is reporting $40,000 on their income tax returns. It is a common scenario where one party in a divorce operates their own business in which certain expenses are run through the business, and/or fails to report all income on tax returns. Business owners will sometimes pay things like their car payments and cell phone bills through their business, but some people are even more brazen and charge any number of personal expenses directly through the auspices of the company they own. This can occur in any type of business or even a professional practice. In businesses where customers or clients commonly pay [...]

By |2021-03-16T18:39:34-04:00August 12, 2017|Family Court, Matrimonial Divorce Law|

Keeping Your Kids out of Your Divorce

Father comforts a sad child. Problems in the family While concerns regarding your children may be utmost on your mind, children suffer when they literally become the center of the divorce process. Having divorced parents does not mean a child is not entitled to have a positive relationship with both of them. No matter how angry or bitter the parents may feel toward each other, expressing that anger to their children will hurt them, as well. When clients ask me for an appropriate way to explain their divorce to their children, I tell them the first thing to consider is the age of the children. Generally, the younger the child, the less he/she [...]

By |2021-03-16T18:39:34-04:00June 6, 2017|Matrimonial Divorce Law|

Domestic Partnerships in New York

What is a Domestic Partnership? A domestic partnership under the laws of the State and City of New York is for couples that have a close and committed personal relationship. There is an application fee of $35 to become a domestic partnership. To revoke a domestic partnership, there is a separate flat fee of $27. What Rights are afforded to those in a Domestic Partnership? Bereavement leave from work (for city employees); Visitation in a city correctional facility; Visitation in Health and Hospitals Corporation (HHC) hospitals; Eligibility to qualify as a family member to be added to an existing tenancy as a permanent resident by the New York City Housing Authority; Eligibility to qualify as [...]

Judge Allows Service of Action for Divorce via Facebook

In a landmark ruling, a New York judge recently directed the service of a summons with notice for an action of divorce via Facebook. In the case of Baidoo v. Blood-Dzraku (2015 NY Slip Op 25096), Judge Matthew Cooper, after being provided with proof of other numerous attempts, afforded the Plaintiff the right to serve her husband with divorce papers by means of the social media program, Facebook. The parties had not lived together since 2009. The Plaintiff was also able to show that the couple’s only communications were through occasional phone calls and interactions on Facebook. As a condition of utilizing such an unconventional method of service, the Judge required the wife to demonstrate [...]

By |2021-03-16T18:38:22-04:00April 26, 2017|Matrimonial Divorce Law|

Social Media and Your Divorce

If you are going through a divorce, it is wise to be very particular about how and when you use social media. Depending on the platform you use, you may be inadvertently revealing information that could hurt your case in court. Here are some basic tips: Don’t post anything that is blatantly inappropriate or that can create an unwanted impression of your finances. Even if you mean it to be a joke, it can make you appear less fit as a parent if you are involved in a custody hearing. Also, if you are posting about your leisure activities, it can make you appear as if you have a substantial amount of extra money available [...]

By |2021-03-16T18:39:34-04:00January 26, 2017|Matrimonial Divorce Law|
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