Whether or not you own a lot of property after getting a divorce on Long Island , you should take the time to go over your estate plan, last will and testament, and most importantly, if property isn’t an issue, your powers of attorney or advance directives. Here are some tips for creating or amending your estate plan after getting a divorce and how Hornberger Verbitsky, P.C. can help you navigate your divorce in New York.
What Affect Does & Divorce Have on Probate & Intestate Succession?
Getting a divorce is complex and involves managing multiple aspects of your current life and future at the same time. One of those things is what will happen to your property and assets in the event of your death now that you are going to be divorced. If this happens, two things may occur — either probate or both intestate succession and probate. Here’s what to know about intestate succession and how to get assistance with estate planning after divorce and navigating the many difficult facets of dissolving your marriage.
Why You Need Estate Planning Help When Getting Divorced
If you are a middle-aged or older adult, chances are you have carefully planned for your future. If you are married, this generally involves planning for your spouse as well. You have likely created a will and established a trust to protect your assets and property after the death of you and your spouse. You may have even made decisions about who will care for your children if you have them, should something happen to both you and your spouse before your children reach the age of 18. Together, you and your spouse have likely purchased insurance policies that protect your family in the event of your disability or death. However, you might not have planned for divorce.
Getting a divorce means you will probably need to make several changes to your estate plan, especially if you have or will have another spouse. Should this be done with the help of a dedicated estate planning lawyer? Here’s what you need to know.
When you get married in New York, assets that you or your spouse obtain afterward the date of the marriage are considered marital property and are subject to equitable distribution laws. This includes retirement benefits. If your spouse contributed to a retirement plan during the course of your marriage, you may be eligible to receive a portion of those benefits under equitable distribution. To do this, you will need a Domestic Relations Order, a DRO or a Qualified Domestic Relations Order, or QRDO. Here’s what to know about DROs and how an experienced Long Island divorce attorney can help you obtain a fair divorce settlement.
What Happens If My Spouse Dies Before Divorce is Final?
The last thing you expect when filing for a Long Island divorce is that your spouse will pass away during the proceedings. However, this very nightmare is a reality for many New York residents. Although this is a difficult subject to discuss, it’s important that you understand now what can happen if your spouse dies during your divorce process. Here’s what you should know and how to get the legal help you need during such a challenging time.
Long Island Divorce & Retirement Accounts — Who Gets Paid?
Divorce can impact you financially, including your retirement accounts. For most people on Long Island, planning for retirement is largely guesswork. Although you’re putting part of your income in savings accounts and investments to provide for your future expenses when you no longer can or want to work, there are a lot of things that are up in the air. For example, you don’t know how inflation will affect the value of your retirement funds and how much cost of living will increase on Long Island. Even so, you save because it’s important to try to plan ahead as much as you can. (more…)
How Your Long Island Divorce Can Affect Your Social Security
For many Long Islanders, retirement benefits weigh heavily on their mind when going through a divorce. Long Island is an expensive place to live when you are in a two-income household, and the thought of attempting to afford it on your own after retirement can be daunting. In order to prepare yourself for post-divorce life, it’s important to understand the impact your Long Island Divorce will have on certain retirement benefits. (more…)
Divorce Effects on Retirement Plans on Long Island
Many Long Island residents find that their divorce has impacted their retirement plans. Many learn the hard way that the division of their assets in their divorce is forcing them to wait years longer than they expected to retire, if they are able to retire at all. This is surely a concern for many, and a good reason to start thinking about protecting your own interests and planning for your own retirement — whether or not you are or will be divorced. (more…)
Long Island Divorce Lawyer Answers Questions About Pensions
As a Divorce Lawyer on Long Island, I see that for many married couples facing divorce, a major concern is how pensions earned over the course of the marriage will be divided. Particularly when a pension has been earned by just one spouse, divorcing couples are concerned about whether the nonearning spouse can share in it. (more…)
Mr. Hornberger was so helpful to me in a recent consultation. He gave me his time generously, listened patiently, offered clear counsel, and said I didn't actually need further legal services in a particular matter, which I really appreciated.
Mr. Hornberger was so helpful to me in a recent consultation. He gave me his time generously, listened patiently,... offered clear counsel, and said I didn't actually need further legal services in a particular matter, which I really appreciated.read more
The team at Hornberger Verbitsky made me feel at ease after I retained them after a 3 year contested divorce process. I... like their approach with how they educate you on ways to get the best outcome in your divorce. Mr. Hornberger made me feel heard and was compassionate to my case while also being aggressive in the courtroom to help me get the most positive outcome. He prevented my case from having to go to trial and he closed the deal in my long drawn out emotional divorce. I was happy that I retained him and would recommend him to anyone that is going through a high conflict divorce.read more
Christine is truly the best there is. She is beyond professional, personable, genuine, extremely trusting, and has made... such a stressful and emotional time for my family and I easier to get through. Thank you so much from the bottom of my heart for your guidance, your support, and being there every step of the way. I would highly recommend Hornberger Verbitsky, P.C. to anyone that is in need for legal advice - you will be in the best hands.read more
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I called to make an appointment for a consultation to discuss a mediated divorce, the office was fantastic with getting... me a prompt appointment. When going in all my questions were asked and I left feeling comfortable in my decision to move forward in using the Hornberger/Verbitsky office. Despite a pandemic going on the office still worked diligently to get my papers filed and my divorce complete in a timely manner. Highly recommend!read more
Hornberger Verbitsky, P.C were phenomenal in every way. Robert was very genuine, patient and professional. Walking in,... I had no idea what to expect but he went above and beyond to explain the entire process thoroughly. He guided and informed me of my rights. Patty was amazing, she answered every question I had no matter how many times I called, she was very understanding. I highly recommend Hornberger Verbitsky, P.C. Even if its just for questions on how to navigate this process.read more
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15:42 16 Sep 20
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