The emotional and financial challenges of high-asset divorce
The Wallack Firm, P.C. Blog
by gturnercontentcustoms
4M ago
Divorce is a complex and emotionally charged process, even more so when wealth is involved. Suppose you’re going through a high-asset divorce; it’s crucial to understand the psychology of a wealthy divorce so that you can make informed decisions. Exploring the emotional and financial challenges individuals often face during a high-asset divorce process can provide insights and strategies you may need to navigate these tumultuous waters. What are the challenges you’re likely to face? Wealthy individuals undergoing divorce can experience a rollercoaster of emotions. The dissolution of a marriage ..read more
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When joint custody isn’t the best option
The Wallack Firm, P.C. Blog
by jerricraventextbroker
4M ago
New York law prefers that both parents share physical custody whenever possible. However, there are scenarios in which it is not in the child’s best interest for this to happen, which means that other arrangements must be made. One parent lives far away Joint physical custody generally isn’t practical when one parent stays in the family home and the other moves to another state. This is because the parent who moved won’t be able to host overnight events or pick up the child from school with any type of consistency. Instead of creating a massive hardship for the parent and child, it may be best ..read more
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Advantages to hiring a private judge
The Wallack Firm, P.C. Blog
by jerricraventextbroker
5M ago
Many people are unfamiliar with the concept of a private judge, but New York allows certain cases to be tried by a privately hired judge. Private judges generally try civil cases like divorces, and there are pros and cons to using one. If you’re involved in a high asset divorce, it’s worth considering going with a private judge rather than the public option. Depending on your circumstances, the private judge option may be more advantageous. Details of the private judge arrangement Many states, including New York, allow for civil cases to be tried by a private judge, as it reduces public caselo ..read more
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Understanding the rise in divorce among empty nesters
The Wallack Firm, P.C. Blog
by jerricraventextbroker
5M ago
According to research, there is a rise in divorce among empty nesters in New York and around the country. To understand this increase, it is important to investigate the reasons why this happens. The children held the marriage together Many couples revolve their lives around their children; hence they keep the marriage together for them. Studies show that children benefit from having both their parents under the same roof, provided there is no abuse occurring in the home. Once the children leave the nest, however, these parents see no point in remaining together. Thus, they go their separate w ..read more
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Mistakes doctors should avoid during divorce negotiations
The Wallack Firm, P.C. Blog
by jerricraventextbroker
5M ago
If you are a physician considering divorce in New York, you probably have more things to consider than most other divorcees. One of the most critical considerations for doctors is their medical practice. With the swirl of emotions involved in the split, many make unwise decisions regarding their practice. Here is what to watch out for and how to avoid typical mistakes. Issues that can affect your children and practice Divorce affects children in different ways, but after spending odd and long hours in the medical profession, you may have a more significant adjustment in dealing with your kids ..read more
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A prenup can help guide you through marriage
The Wallack Firm, P.C. Blog
by jerricraventextbroker
6M ago
Most people know that a prenup can help you through a divorce by clarifying the financial aspects of your life even before you begin your marriage. However, many might be surprised that a prenup can also guide you through marriage so that both spouses are financially honest and open throughout. If you are a New York resident about to get married, you might consider drafting a prenup. A prenup requires financial honesty When some couples marry, they do so without knowing the full truth about their spouse’s financial situation. Over time, this can result in conflicts between the spouses and it o ..read more
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How you can co-parent a special needs child post-divorce
The Wallack Firm, P.C. Blog
by jerricraventextbroker
6M ago
If you and your spouse have a special needs child and are going through a divorce in New York, you are probably concerned about how you will continue co-parenting your child and meeting all their needs when you are no longer living in the same house. Co-parenting a special needs child requires dedication, preparation and commitment, but you and your spouse can make it work for your child. Start with a plan As with any complex child custody situation, you and your spouse should create a detailed parenting plan. Beyond the schedule of when the child will be with each parent, you should include o ..read more
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Ways to protect your finances during a divorce
The Wallack Firm, P.C. Blog
by jerricraventextbroker
7M ago
Married couples take their vows seriously, but that doesn’t always mean they’ll last happily ever after. Sadly, many New York marriages end up in divorce for a variety of reasons. If you are going through a divorce, you’ll want to take certain steps to protect your finances. Go through your documents During a divorce involving complex asset division, it’s wise to go through all your financial documents and accounts to determine what you have and what you owe. Go through your credit card statements, bank accounts, debts and anything else that’s relevant. Determine what’s yours alone and what yo ..read more
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Helping teens through their parents’ divorce
The Wallack Firm, P.C. Blog
by jerricraventextbroker
8M ago
Divorce is challenging for all members of a family, including children. Unfortunately, some New York parents use their children as go-betweens or even weapons against each other. This can be especially problematic for children and interfere with their ability to healthfully cope with the changes in their lives. While some parents recognize this potential issue with younger children, they might forget that divorce is hard on teenagers, too. Effects of divorce on teens Divorcing parents sometimes forget their teens are still children. Since they are more independent, some parents wrongfully lean ..read more
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How divorce could affect your medical practice
The Wallack Firm, P.C. Blog
by jerricraventextbroker
8M ago
If you are a doctor in New York about to get divorced, evaluating your medical practice is one of the most crucial steps in preparing for this life-changing move. These days, most doctors have a partnership or are involved in a group practice, so accurately assessing your financial percentage is essential to your proceedings. Questions you should expect Expect some hard questions from various individuals who will help you through your divorce. These queries are necessary to determine valuation. Essential questions include the following: The type of practice When it was established How it was f ..read more
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