When valuing a business in a New York divorce, the value of the business is determined with an appraisal, by a business appraiser, using the accepted valuation methodologies. In a court divorce, both parties will often hire their own appraisal experts, with each side presenting their expert’s opinion for a judge to evaluate. In a negotiated divorce or separation, we'll often have one neutral … [Read more...]
Dividing a Pension Division during a Rochester, New York Divorce
A classic pension is most often seen with public employees like teachers, law enforcement officers, court employees, mail carriers or military personnel. It provides for a monthly payment upon retirement based upon a number of factors, including length of service and the salary at the time of retirement.In New York, the marital portion of the pension is divided upon divorce or separation, … [Read more...]
Dividing Retirement Accounts in Rochester, New York Divorce Cases
There are two types of retirement assets, a classic pension and the more common retirement savings account like a 401(k), 403(b), IRA and the like. In a New York divorce or separation, the marital portion of a retirement account is identified, then that portion is divided equitably.If a retirement account was started during the marriage, then the account is entirely marital and all of it would … [Read more...]
Dividing Marital Assets in a New York Divorce
In a New York divorce or separation, the marital estate is divided equitably. This has two parts: identification of what is in the marital estate and dividing the marital estate equitably, or fairly.One way to think about a marriage is that it is an economic union, so that everything that is accrued, assets or debts, from the date of the marriage until the start of a divorce action or signing … [Read more...]
How are businesses divided in divorce in Rochester, New York?
In a New York divorce, martial assets are divided equitably, or fairly. For most assets acquired during the marriage, a fair distribution means an equal distribution. This is not always the case when dividing businesses.When dividing a business in a separation or divorce, the first step is to determine how much of the business is marital, or was acquired during the marriage. Was it started … [Read more...]
How Do I Modify Child Support in Rochester, NY?
Child support can be modified by agreement or by a court in Rochester, New York. A party may resist negotiating to change child support unless there is a basis for a court to change child support. So, whether you are trying to negotiate a change in child support, it is helpful to have an understanding of the law for modifying child support orders.A court will not consider modifying child … [Read more...]
How Does a Court Divide Marital Property?
In New York, marital property is divided pursuant to equitable distribution. The first step is to identify and value the marital estate. For example, when was the marital home purchased? What is it worth? Is there a mortgage or home equity line of credit? Did either party contribute premarital funds or gifts from third parties to the acquisition of the residence?Once the assets are identified … [Read more...]
Does It Make Any Difference If I File for Divorce First?
The party filing first is the plaintiff and the responding spouse is the defendant. To a judge, it essentially makes no difference who was the first to file; plaintiffs and defendants are interchangeable when it comes to the decisions to be made by the judge.There are some procedural differences, however. The first to file is subject to the Notice of Automatic Orders upon filing, and that … [Read more...]
Do I Have to Go to Court for My Rochester Divorce? If I Do Go to Court, What Happens?
If your case has been resolved through negotiation, either in the collaborative process, outside of court with attorneys, in mediation, you do not need to appear in court. In fact, many of my clients do not even set foot in the courthouse. On the other hand, if the parties are unable to reach an agreement on all the issues, and the assistance of a judge is required, then you will need to go to … [Read more...]
Divorce in the Time of Coronavirus
Efforts to contain the spread of the coronavirus have significantly affected our lives. We are required to adapt and change in unexpected ways. As more restrictions arise, what worked before might not be possible. At this point, absent domestic violence or other emergency situations, courts are closed and unavailable. No new divorce actions may be commenced. Despite the shutdowns and complete … [Read more...]
