How to Build Wealth After a Long Island Divorce

How to Build Wealth After a Long Island Divorce

How to Build Wealth After a Long Island Divorce

If you’re going through a divorce, you should know that it’s important to take care of your finances now so that you can start fresh and build wealth for your future. Below, we discuss some key financial considerations for those who are dissolving their marriages, like budgeting, investing, and insurance so that you can make the most of your money after a divorce.

By following these tips, you can set yourself up for a bright financial future despite an unfortunate turn in your personal life.

Divorce Attorney Consultation

The Importance of a Solid Financial Foundation When Getting a Divorce in NY

If you have little to no savings when getting a divorce, it’s important to start building a solid financial foundation as soon as possible. Take a good look at where your money is currently going to see where you may be able to cut back on expenses. If possible, you may have to try to increase your income by working overtime or getting a second job.

It’s also crucial to start building an emergency fund. This will help you cover unexpected expenses that come up during the divorce, like court fees or doctor’s appointments if you’re no longer on your spouse’s insurance. Start by saving as much as you can, even if it’s just a few dollars. Eventually, this figure will grow so long as you’re replacing what you take out for emergencies over time.

Determining Your Post-Divorce Budget

Take a close look at your budget. If you are used to living on a dual income, you probably need to find ways to cut expenses and increase your income. Start by making a list of all your expenses, like mortgage or rent, car payment, insurance, etc., and variable expenses like groceries, gas, and entertainment.

Then, look for ways to reduce your costs. Can you get a cheaper cell phone plan or cut back dining out? You can also try shopping around for better car insurance rates and use coupons on groceries. This can be difficult to sustain though, so you should also think about ways you can increase your income if possible.

Consider getting a higher-paying job or taking on a freelance opportunity or side hustle if you can, or negotiate a higher salary with your employer at work. Just be sure to account for the increased cost of child support or alimony if applicable.

Investing for Your Future After Divorce

Investing is one of the most important things you can do to build wealth after a divorce. While there are many different ways to invest, one of the best ways to ensure your long-term success is to diversify your portfolio.

Diversification simply means investing in a variety of different asset classes, such as stocks, bonds, and real estate. By dispersing your funds across multiple types of assets, you can reduce your risk of loss as opposed to investing everything into one kind of asset that may do poorly and leave you with little to nothing.

There are many different ways to build a diversified portfolio. One way to do this is by purchasing a relatively equal mix of stocks and bonds, or fewer bonds and more stocks if you want to take more risk or the reverse if you prefer to make safer investments.

This approach can offer you the potential for growth through stocks while providing some stability through bonds. Another way to diversify your portfolio is to invest in a variety of different types of stocks, such as large-cap, small-cap, and international stocks. This approach can help you to minimize your risk while still providing you with the opportunity to capture returns from different parts of the market.

No matter how you choose to diversify your portfolio, the key is to start investing early and often. And by investing regularly, you can take advantage of dollar-cost averaging, which helps smooth out market fluctuations over time.

How a Capable Long Island, NY Divorce Lawyer Can Help You

The divorce process can be a difficult and stressful time for everyone involved. One of the biggest concerns during and after a divorce is finances. With careful planning and execution, you can rebuild your financial foundation and create lasting wealth. You should also consider estate planning when considering your financial future.

At Hornberger Verbitsky, P.C., we have worked with countless clients who are going through a divorce and understand the financial challenges and stresses that come with this process. Our team of divorce lawyers will work with you to ensure that you get the best possible outcome for your divorce, both financially and emotionally. Call us today to schedule a consultation at 631-923-1910 or fill out the short form on this page.

GET YOUR FREE CONSULTATION TODAY
Call 631-923-1910 or fill in the form below

Get your complimentary consultation and case evaluation with our experienced attorneys today.

Your attorney will describe the many options available and determine together which is the right solution for you. By the end of this  conversation, we’ll all understand how we can best help you to move forward.

No Cost or Obligation

There is no cost or obligation for this initial consultation. It is simply an opportunity for us to get to know each other, answer your questions and learn if Hornberger Verbitsky, P.C. is right the right law firm for you. Give us a call at 631-923-1910 or fill in the short form below for your free consultation and case evaluation.

All Fields Are Required

Divorce Lawyer Long Island New York
Google Review of divorce longisland
LISA CAVALIERE
LISA CAVALIERE
19:57 28 Dec 22
Divorce is never easy, but Hornberger Verbitsky made the process as smooth as it gets. I used the firm for mediation. All emails were answered quickly, and the team was extremely knowledgeable. Patty in particular was wonderful to work with, and very patient with all of my questions. I would highly recommend Hornberger Verbitsky!
Janine Keleghan
Janine Keleghan
00:01 20 Nov 22
From the minute my now x-husband and I met with Robert, we both felt comfortable and confident that he and his firm were a great fit for our "gray divorce". Divorce is unsettling but the firm and the confidence, consideration and responsiveness made this very challenging time much easier to navigate. I am grateful for the whole team at Hornberger Verbitsky. Reasonable competent and fair to both my "x" and I. I would not hesitate to recommend them to anyone needing legal representation. Patty is also the "bomb" she was always kind and patient with me, which was a blessing during this very difficult life changing time.

Successful Divorce Strategies Free eBook
divorce questions answered
Child Support & Spousal Maintenance Tools
Spousal Maintenance Calculator
Child Support Calculator
Robert E. Hornberger, Esq., P.C. respects your right to privacy. We will never sell your information to any third party. Follow this link to read our full privacy policy.

How to Uncover Financial Fraud in a Long Island, NY Divorce

How to Uncover Financial Fraud in a Long Island, NY Divorce

How to Uncover Financial Fraud in a Long Island, NY Divorce

Financial fraud is a serious issue that often occurs during contentious divorces on Long Island, NY. While it may be difficult to identify, some telltale signs may indicate your spouse is financially fraudulent. If you suspect financial fraud, it’s important to take action to protect yourself and your assets.

Divorce Attorney Consultation

What Is Divorce Fraud  in NY?

Divorce fraud can take many different forms, but all of them involve one spouse hiding or lying about assets, usually to keep more of the marital property for themselves. Some common types of financial fraud in a divorce include:

Hiding Assets from Spouse

This can involve hiding money in a secret bank account, underreporting income on tax returns, or failing to disclose all sources of income.

Transferring Assets to Someone Elese

This can involve transferring ownership of property or investments into someone else’s name (such as a child’s), selling property for less than it’s worth, or giving away assets to family or friends.

Lying About Debts

This can involve incurring debts without the other spouse’s knowledge, hiding existing debts from the other spouse, or exaggerating debts to get a larger share of the marital property.

All of these forms of fraud can have serious consequences if the person is caught. If you suspect your spouse is financially fraudulent, you should speak to an experienced Long Island, NY divorce lawyer as soon as possible to determine what your next steps should be.

How to Identify Financial Fraud in a Long Island, NY Divorce

If your spouse is being amicable or isn’t exhibiting any abnormal behavior, it may be difficult to tell if they are hiding money or otherwise committing fraud. Here are a few indicators:

Controlling Behavior

If your spouse suddenly becomes very controlling around money and starts insisting on knowing every detail of your finances, it could be a sign that they are trying to hide something themselves. Especially if they were not previously interested in financial matters, this behavior change may be a red flag.

Secrecy Around Money

If your spouse starts being secretive about what they spend or make, this is another possible sign of fraud. They may start hiding bank statements or credit card bills, or they may refuse to share information about their income or assets.

Giving Assets or Money to Family or Friends

Another way to hide assets or large sums of money is to give them to family members or friends who will give them back after the divorce. If your spouse starts sending money or giving heirlooms or other assets away, this may be a sign that they are trying to keep these out of the divorce settlement.

Your Spouse Is Caught Cheating

If your spouse is caught cheating on you, this is a good indicator that they aren’t trustworthy and it can also be indicative of financial fraud. Cheating can often be a way of hiding assets and income, as well as a way of spending money without having to account for it to their partner. Consider the possibility that they may be funneling funds away if they readily admit to having an expensive affair.

Your Spouse’s Income Decreases Without Explanation

If your spouse’s income suddenly decreases for no good reason, it could indicate that they are hiding money instead of putting it in your joint bank account. This might happen if your spouse is hiding income through creative accounting methods or if they are simply not declaring all of their income on their tax return.

What to Do If You Suspect Your Spouse Is Being Financially Fraudulent

If you suspect your spouse of financial fraud, the first thing you should do is set up a separate bank account so you can keep track of your finances and ensure that your spouse cannot access your money without your knowledge. You should also keep all important financial documents, such as tax returns and bank statements, in a safe place where your spouse cannot get to them.

You should also keep an eye on your credit score. If you notice any sudden or unexplained changes in your credit score, it could be an indication that your spouse has been using your information to open new accounts or take out loans in your name. If you see any suspicious activity on your credit report, contact the credit bureau immediately to dispute the fraudulent charges.

Contact an Experienced Long Island, NY Divorce Lawyer

Don’t wait to contact a Long Island divorce lawyer as soon as possible if you think you may be a victim of divorce fraud. A qualified Long Island family lawyer can help you gather evidence to support your case and can also assist you through the divorce and property division process. Contact Hornberger Verbitsky, P.C. today for more information or to book a consultation by calling 631-923-1910 or fill out the short form on this page.

GET YOUR FREE CONSULTATION TODAY
Call 631-923-1910 or fill in the form below

Get your complimentary consultation and case evaluation with our experienced attorneys today.

Your attorney will describe the many options available and determine together which is the right solution for you. By the end of this  conversation, we’ll all understand how we can best help you to move forward.

No Cost or Obligation

There is no cost or obligation for this initial consultation. It is simply an opportunity for us to get to know each other, answer your questions and learn if Hornberger Verbitsky, P.C. is right the right law firm for you. Give us a call at 631-923-1910 or fill in the short form below for your free consultation and case evaluation.

All Fields Are Required

Divorce Lawyer Long Island New York
Google Review of divorce longisland
LISA CAVALIERE
LISA CAVALIERE
19:57 28 Dec 22
Divorce is never easy, but Hornberger Verbitsky made the process as smooth as it gets. I used the firm for mediation. All emails were answered quickly, and the team was extremely knowledgeable. Patty in particular was wonderful to work with, and very patient with all of my questions. I would highly recommend Hornberger Verbitsky!
Janine Keleghan
Janine Keleghan
00:01 20 Nov 22
From the minute my now x-husband and I met with Robert, we both felt comfortable and confident that he and his firm were a great fit for our "gray divorce". Divorce is unsettling but the firm and the confidence, consideration and responsiveness made this very challenging time much easier to navigate. I am grateful for the whole team at Hornberger Verbitsky. Reasonable competent and fair to both my "x" and I. I would not hesitate to recommend them to anyone needing legal representation. Patty is also the "bomb" she was always kind and patient with me, which was a blessing during this very difficult life changing time.

Successful Divorce Strategies Free eBook
divorce questions answered
Child Support & Spousal Maintenance Tools
Spousal Maintenance Calculator
Child Support Calculator
Robert E. Hornberger, Esq., P.C. respects your right to privacy. We will never sell your information to any third party. Follow this link to read our full privacy policy.

Can a Long Island, NY Divorce Court Force the Sale of My Home?

Can a Long Island, NY Divorce Court Force the Sale of My Home?

Can a Long Island, NY Divorce Court Force the Sale of My Home?

The family home is often the most valuable asset that a couple owns and is frequently a source of contention during a divorce. The question of whether a divorce court in Nassau County or Suffolk County can force the sale of a home is one that many people face during this difficult time. Below, we explore the answer to this question and look at the implications of a forced sale of a home in a divorce. We’ll also provide some options for what you can do if your home is ordered to be sold in divorce.

Divorce Attorney Consultation

Dividing Assets in a Long Island, NY Divorce

In a divorce, all of the couple’s marital assets are typically divided between them. This includes both financial assets such as savings and investments, as well as physical assets such as property and possessions. The division of assets is usually done through negotiation between the divorcing parties, normally with each party attempting to get the best possible outcome for themselves. If an agreement can’t be reached, then the court will decide how to divide the assets for the couple.

Dividing the Family Home

When it comes to dividing up the family home, there are a few different options that can be considered.

#1. One option is for one spouse to buy out the other’s interest in the property.

#2. Another option is for the property to be sold and the proceeds split between both spouses.

#3. Or, one spouse may keep ownership of the property and rent it out to the other spouse until they can afford to buy them out.

In many cases, the divorcing couple disagrees on what to do with the home. One spouse may want to keep the home while the other wants to sell it and split the proceeds. There is often an emotional attachment to the home, which can make the decision even more difficult. The final decision on what happens to the family home in a divorce rests with either agreement between both parties or with a judge making the decision if no agreement can be reached.

Can a Long Island, NY Divorce Court Force the Sale of My Home?

Under certain circumstances, a divorce court in Nassau County or Suffolk County may order the sale of a family home regardless of what either of the spouses want. This is most likely to happen if the home is the couple’s primary asset and the couple cannot agree on what to do with the property. The court may also order the sale of a home if one spouse plans to move out of state and wants to sell the property.

The Consequences of a Forced Sale in NY

A forced sale of a home can have major consequences for both spouses. If the couple has children, they will need to find new housing that meets their needs and budget. The proceeds from the sale of the home will need to be divided between the spouses, which can be complicated if there is still mortgage debt on the property. One spouse may end up having to buy out the other spouse’s interest in the property, or one spouse may be unable to afford to stay in the home after the divorce.

What Are My Legal Options?

If you have been ordered to sell your home in a divorce, there are a few options available to you for what you can do next.

#1. You Can Buy Your Spouse’s Interest in the Home

If you have the money or good enough credit, you may be able to buy out your spouse’s interest in your home. This can be done by refinancing the mortgage in your name only or by taking out a new loan. However, you will need to make sure that you can afford the mortgage payments on your own before taking this step, otherwise, you could end up in foreclosure and lose everything.

#2. You Can Move Out and Rent the Property

You may be able to negotiate to rent out the property and split the proceeds with your spouse instead of selling it. This can allow you to keep some equity in the property while reducing or eliminating monthly mortgage payments. That said, you will need to get permission from your lender and the court before renting out the property.

If a judgment has been made regarding your home in your divorce proceedings, this is almost always final. Most often, it’s in your best interests to negotiate what to do with your marital home before a judge can decide for you.

When to Contact a Long Island, NY Divorce Attorney

The family home is often one of the most contentious issues in a divorce. While it may be emotionally difficult to part with, there are circumstances under which a divorce court can force the sale of a home. If you find yourself in this situation, it’s important to understand your options and the implications of a forced sale. With careful planning, you can make the best of a difficult situation. Call Hornberger Verbitsky, P.C. today at 631-923-1910 or fill out the short form on this page to make an appointment to discuss your situation with an experienced Long Island, NY divorce attorney.

GET YOUR FREE CONSULTATION TODAY
Call 631-923-1910 or fill in the form below

Get your complimentary consultation and case evaluation with our experienced attorneys today.

Your attorney will describe the many options available and determine together which is the right solution for you. By the end of this  conversation, we’ll all understand how we can best help you to move forward.

No Cost or Obligation

There is no cost or obligation for this initial consultation. It is simply an opportunity for us to get to know each other, answer your questions and learn if Hornberger Verbitsky, P.C. is right the right law firm for you. Give us a call at 631-923-1910 or fill in the short form below for your free consultation and case evaluation.

All Fields Are Required

Divorce Lawyer Long Island New York
Google Review of divorce longisland
LISA CAVALIERE
LISA CAVALIERE
19:57 28 Dec 22
Divorce is never easy, but Hornberger Verbitsky made the process as smooth as it gets. I used the firm for mediation. All emails were answered quickly, and the team was extremely knowledgeable. Patty in particular was wonderful to work with, and very patient with all of my questions. I would highly recommend Hornberger Verbitsky!
Janine Keleghan
Janine Keleghan
00:01 20 Nov 22
From the minute my now x-husband and I met with Robert, we both felt comfortable and confident that he and his firm were a great fit for our "gray divorce". Divorce is unsettling but the firm and the confidence, consideration and responsiveness made this very challenging time much easier to navigate. I am grateful for the whole team at Hornberger Verbitsky. Reasonable competent and fair to both my "x" and I. I would not hesitate to recommend them to anyone needing legal representation. Patty is also the "bomb" she was always kind and patient with me, which was a blessing during this very difficult life changing time.

Successful Divorce Strategies Free eBook
divorce questions answered
Child Support & Spousal Maintenance Tools
Spousal Maintenance Calculator
Child Support Calculator
Robert E. Hornberger, Esq., P.C. respects your right to privacy. We will never sell your information to any third party. Follow this link to read our full privacy policy.

I’m Getting Divorced. Do I Need a Financial Advisor?

I’m Getting Divorced. Do I Need a Financial Advisor?

I’m Getting Divorced. Do I Need a Financial Advisor?

If you’re considering getting a divorce on Long Island, NY, you may be wondering if you need to hire a financial advisor. Below, we discuss the role of a financial advisor in a divorce, the cost of hiring one, and whether or not it’s worth it.

What a Financial Advisor Does for a Divorce

A financial advisor is a type of professional that can help you manage your current finances and plan for the future. They can help you with investments, retirement planning, and estate planning, as well as budgeting and cash flow management. In the context of divorce, a financial advisor can help you negotiate a fair settlement, manage your finances during the divorce process, and plan for your financial future after the separation is complete.

Divorce Attorney Consultation

What Are the Benefits of Having a Financial Advisor During a Divorce?

While there are many benefits to having a financial advisor during divorce proceedings on Long Island, NY, these are the top three most important:

#1. Negotiate a Fair Settlement

When divorcing in New York, you will need to divide your marital assets equitably between yourself and your spouse. A financial advisor can help you determine what constitutes fair and equitable and can work with your divorce attorney to negotiate a settlement that is in your best interests.

#2. Control Your Expenses During the Divorce Process

Divorce is an emotionally charged time, and it can be easy to make rash decisions about money. A financial advisor can help you stay on track financially, and make sure that you are making decisions that are in your best interests long-term.

#3. Plan for Your Financial Future

After your divorce is complete, you may need to start saving for retirement on your own or may need to adjust your budget to account for living on one income instead of two. A financial advisor can help you plan for these changes, and make sure that you are still on track to reach your long-term goals.

How Do I Find a Trustworthy Financial Advisor?

If you have already hired a divorce lawyer, they likely have the resources to get you connected with a financial advisor who can help you. Or, you can ask for recommendations from friends or family, or search for online customer reviews. When looking for a financial advisor, make sure they are licensed in your area and have experience working with people who are going through a divorce.

The Cost of a Financial Advisor

The average cost of a financial advisor for a divorce can range between $3,000 to $6,000, but this can vary depending on the services provided and the experience of the advisor.

This expense may be well worth it if you are going through a divorce and need help dividing assets and debts. A financial advisor can also help you create a budget and plan for your future finances. Whether you stand to gain a lot from your divorce and need guidance for managing the additional resources, or you have fewer resources that you need to find ways to stretch, a financial advisor may be beneficial for you.

Should I Hire a Financial Advisor for My Divorce?

There is no right or wrong answer when it comes to hiring a financial advisor for your Long Island, NY divorce. The key is to understand the role of a financial advisor, the benefits they can provide, and how much they typically cost, so you can decide if hiring an advisor is the best option for your specific needs and circumstances.

What If I Don’t Hire a Financial Advisor?

If you decide that you don’t need or can’t afford to hire a financial advisor for your Long Island divorce, there are still several things you can do to ensure that you make smart financial decisions throughout the divorce process.

First, educate yourself about the basics of personal finance and investing. This will give you a good foundation for understanding the financial ramifications of your divorce settlement. You can also consult with friends or family members who have been through a divorce and can offer advice from their own experience, or work with a divorce mediator or collaborative divorce lawyer to reach a mutually beneficial agreement with your spouse that is in both of your best interests.

Contact Hornberger Verbitsky, P.C. Today for More Information About Financial Advisors & Divorce on Long Island, NY

If you’re considering getting a divorce in New York, it’s important to have someone on your side who is only looking out for your best interests. Contact Hornberger Verbitsky, P.C. today for more information or to book a consultation to discuss your legal options by dialing 631-923-1910 or fill out the short form on this page. Our team of legal professionals is available now to provide you with comprehensive assistance. Serving Nassau and Suffolk counties and surrounding areas.

GET YOUR FREE CONSULTATION TODAY
Call 631-923-1910 or fill in the form below

Get your complimentary consultation and case evaluation with our experienced attorneys today.

Your attorney will describe the many options available and determine together which is the right solution for you. By the end of this  conversation, we’ll all understand how we can best help you to move forward.

No Cost or Obligation

There is no cost or obligation for this initial consultation. It is simply an opportunity for us to get to know each other, answer your questions and learn if Hornberger Verbitsky, P.C. is right the right law firm for you. Give us a call at 631-923-1910 or fill in the short form below for your free consultation and case evaluation.

All Fields Are Required

Divorce Lawyer Long Island New York
Google Review of divorce longisland
LISA CAVALIERE
LISA CAVALIERE
19:57 28 Dec 22
Divorce is never easy, but Hornberger Verbitsky made the process as smooth as it gets. I used the firm for mediation. All emails were answered quickly, and the team was extremely knowledgeable. Patty in particular was wonderful to work with, and very patient with all of my questions. I would highly recommend Hornberger Verbitsky!
Janine Keleghan
Janine Keleghan
00:01 20 Nov 22
From the minute my now x-husband and I met with Robert, we both felt comfortable and confident that he and his firm were a great fit for our "gray divorce". Divorce is unsettling but the firm and the confidence, consideration and responsiveness made this very challenging time much easier to navigate. I am grateful for the whole team at Hornberger Verbitsky. Reasonable competent and fair to both my "x" and I. I would not hesitate to recommend them to anyone needing legal representation. Patty is also the "bomb" she was always kind and patient with me, which was a blessing during this very difficult life changing time.

Successful Divorce Strategies Free eBook
divorce questions answered
Child Support & Spousal Maintenance Tools
Spousal Maintenance Calculator
Child Support Calculator
Robert E. Hornberger, Esq., P.C. respects your right to privacy. We will never sell your information to any third party. Follow this link to read our full privacy policy.

Tips for Managing Your Marital Home During a NY Divorce

Tips for Managing Your Marital Home During a NY Divorce

Tips for Managing Your Marital Home During a NY Divorce  

Tips for Managing Your Marital Home During a NY Divorce

Divorce is an emotional process, whether or not it’s something you believe is best for you and your family or even if it’s something you have decided you want. Often, couples let their feelings about their dissolving marriage get in the way of being able to mutually benefit from the management of their marital home. Your home is an investment of your time and money and if handled appropriately during your divorce, can help provide you with the resources needed to start over after splitting up.

Here are several tips for managing your marital home during a Long Island, NY divorce and how veteran New York family law attorneys Hornberger & Verbitsky, P.C. can help.

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Should I Buy My Spouse’s Share of Business Before Divorce?

Should I Buy My Spouse’s Share of Business Before Divorce?

Should I Buy Spouse’s Share of Business Before Divorce?  

Should I Buy My Spouse's Share of Business Before Divorce?

If going through a divorce wasn’t difficult enough for couples, business owners have much more to consider before and during the divorce process. Businesses owned by either one or both spouses are often considered joint property in New York divorces. As a result, it might be considered a shared asset and be subject to equitable distribution laws.

An experienced divorce attorney can assist you if you are a business owner going through the dissolution of your marriage and are concerned about the future of your company. Keep reading to find out if you should sell your share of the company to your spouse before you get divorced on Long Island.

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Is An Inheritance Marital Property?

Is An Inheritance Marital Property?

Is My Spouse Entitled to Half My Inheritance?

Is An Inheritance Marital Property?

If you receive an inheritance and are getting a divorce on Long Island, you may be wondering whether New York law will treat your inheritance as marital property or separate property. Here’s what you should know and how to get help from an experienced Long Island divorce lawyer.

(more…)

Can a Divorce Ruin My Credit?

Can a Divorce Ruin My Credit?

How to Keep Your Divorce From Ruining Your Credit Score

Can a Divorce Ruin My Credit?

Getting a divorce on Long Island, or anywhere else for that matter, doesn’t have a direct impact on your credit score by itself, however, your credit can be affected by common divorce issues like splitting up bank accounts or dividing debt. Here’s what to know about divorce and your credit score and how to get legal help from an experienced New York divorce attorney to minimize any impact your divorce will have on your credit.

(more…)

When Money Ruins a Marriage on Long Island

When Money Ruins a Marriage on Long Island

How Money Can Destroy a Marriage on Long Island

When Money Ruins a Marriage on Long Island

It’s no secret that one of the most common reasons couples get divorced in New York — and across the country – has to do with the couple’s finances. Fights about money are difficult to overcome, especially when spouses argue about money but make no changes in how money is handled in the home.

Here’s what you should know about navigating a Long Island divorce when it’s because of finances and how to get the help you need from an experienced divorce lawyer or family law attorney.

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Top 4 Ways a Spouse Can Hide Assets in a Divorce

Top 4 Ways a Spouse Can Hide Assets in a Divorce

Top 4 Ways a Spouse Can Hide Assets in a Divorce

In a Long Island divorce, both parties are required to provide full financial disclosure of assets and debts. If one spouse has more assets than the other, or one spouse does not work and are afraid they won’t receive spousal support, they may try to conceal assets from being discovered by a New York divorce court.

This is against the law and may result in legal penalties. Here are some common ways a spouse may attempt to hide assets, and how you can get reliable legal assistance during a divorce on Long Island.

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