Calculating Divorce Maintenance
In New York, determining maintenance (spousal support or alimony) can be a burdensome task. This task can become more complicated in situations where one spouse is receiving disability or a long term/permanent personal injury settlement in the form of a tax free annuity. Although the line between separate property and marital property with regard to such payments is often blurred, the fact of the matter is that these payments can have an effect on child support and even maintenance. Disability or annuity income can be factored in for the purposes of calculating how much maintenance a spouse should be paying to the injured party.
More importantly, the disability or annuity income should be used by the disabled spouse for the purpose of taking care of the children. This money should not be discounted when determining who pays carrying costs. It absolutely should be used to contribute to the support of the children.
Divorce Attorneys
If you are contemplating a divorce in which one of the spouses is receiving some type of disability or personal injury settlement payment, call (516) 858-2620 to speak to a divorce attorney today!
Separate Property in Divorce
Not ALL Property is Divided between Spouses in a Divorce: Separate Property Remains with the Spouse.
When a couple divorces, the couple’s marital property is subject to equitable distribution. This means the property is divided between spouses according to certain legal principles. But not all of a spouse’s property is considered “marital property.” Some assets may be considered “separate property.” Separate property is not subject to equitable distribution, and therefore may remain with one spouse after a divorce.
The terms “marital property” and “separate property” are defined by New York’s Domestic Relations Law:
The term “marital property” shall mean all property acquired by either or both spouses during the marriage and before the execution of a separation agreement or the commencement of a matrimonial action, regardless of the form in which title is held, except as otherwise provided in agreement pursuant to subdivision three of this part. Marital property shall not include separate property as hereinafter defined.
The term separate property shall mean:
(1) property acquired before marriage or property acquired by bequest, devise, or descent, or gift from a party other than the spouse;
(2) compensation for personal injuries;
(3) property acquired in exchange for or the increase in value of separate property, except to the extent that such appreciation is due in part to the contributions or efforts of the other spouse;
(4) property described as separate property by written agreement of the parties pursuant to subdivision three of this part.
As a general rule, it appears that property obtained prior to a marriage, or through non-marital sources, remains separate, whereas property that is acquired during the marriage is marital property, subject to equitable distribution. But as with most areas of the law, there are exceptions. If a spouse “co-mingles” property that would otherwise be considered “separate” with “marital property,” it may be deemed marital property subject to equitable distribution. On the other hand, property that is acquired in exchange for “separate property” may be deemed “separate,” even if acquired during the marriage. Property acquired after a separation agreement or divorce proceeding is generally considered separate. Finally, prenuptial or separation agreements in which spouses agree to treat separate property as marital property are generally enforceable.
If you have questions about this or other legal matters, the Law Firm of Vaughn, Weber & Prakope, PLLC would like to assist you. Please call (516) 858-2620 to set up a free consultation with an experienced matrimonial attorney.
Amidst all of the emotions that a divorce case brings to the forefront, there are certain details that need to be respected. One of these details is often met with hesitation. That would be compulsory financial disclosure required by New York Domestic Relations Law. Clients seem to be very curious as to how far they can push this requirement without complying. It need only be said that failure to comply with required financial disclosure can result in penalties under CPLR §3126. Such penalties can result in having equitable distribution issues resolved in favor of the other party; the Court prohibiting you from being allowed to introduce certain relevant financial evidence necessary to support your case; or even dismissal. Although it can be tedious to complete the disclosure paperwork, it is still better than losing your share of the marital assets for failing to comply. If you have any questions regarding this matter or need assistance with a divorce in general, please call 516-858-2620 to speak to a Divorce Attorney today!
Uncontested Divorce
In the past few months we have received a lot of phone calls from people who either attempted to file their own uncontested divorce or hired the cheapest attorney they could find to file their uncontested divorce for them. Unfortunately, these folks have found out the hard way, that mistakes in the paperwork or the filings of these uncontested types of divorce can lead to serious delays and stress. Although an uncontested divorce is not as technically challenging as a contested divorce may be, it should still be taken seriously. An uncontested divorce controls the manner in which a marriage is dissolved. Issues of child custody, child support, maintenance, and property distribution are all at stake when these divorce papers are prepared and filed. It is very important that you find a competent professional to prepare and file your divorce. Saving several months time and a lot of money that it takes to fix mistakes in the divorce process is well worth the slightly higher cost that you may pay. As always, if you have any questions or concerns, feel free to contact the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620!
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