The Tax Cuts and Jobs Act has many implications for your Long Island divorce, as it pertains to Spousal Support (aka Alimony) and the Child Tax Credit. The new tax rules may mean you want to speed up your divorce to have it settled before the end of the year (when the new rules take effect). (more…)
Why the Client Narrative is So Important
One of the key pieces of information your Long Island divorce attorney will need to best represent you in your divorce is known as a “Client Narrative”. Your help in providing a descriptive story of your family will prove to be invaluable to your case. Your attorney’s ability to effectively represent you depends on the information available to him or her. Therefore, in order to successfully handle the many important issues surrounding your divorce, it’s critical that you provide your attorney with a detailed history of your marriage. In doing so, you should provide the following information: (more…)
One of the most important documents your divorce attorney will request from you and your spouse in the preparation of your Long Island divorce is known as a Statement of Net Worth (SNW). While this is a detailed document that can seem intimidating at first, it is critical for both your attorney and the court to have an accurate picture of your financial situation to effectively represent you and protect your interests in your divorce. (more…)
Spousal Maintenance, otherwise or formerly known as Alimony, plays a significant part in a majority of Divorce Proceedings handled on Long Island. Spousal maintenance is a creature of statute, and, as such is typically determined by following a formula. However, in certain cases, the courts in Nassau and Suffolk counties can deviate from the statute in a few different ways.
After many years working with countless Long Island parents on the issue of Child Support, I’ve seen the same dilemma many times over. The parents are in the middle of their divorce, or, are contemplating beginning their divorce and the residential parent is not receiving Child Support from the non-residential parent. It’s been an extended length of time, and now resources are running low for the residential parent. He or she feels that there is no other option, but to file for child support. If the parties are in the middle of a divorce, they are already before a Supreme Court judge. However, when dealing with child support specifically, Family Court is usually the faster route. Notwithstanding, there are some risks associated with filing for child support in Family Court during the pendency of your Divorce on Long Island. (more…)
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…)