What happens to your IRAs, 401Ks and other Retirement Plans in a divorce? In New York, if a spouse has an IRA, 401K or other retirement plan then any contributions to those plans during the marriage are considered marital property and the other spouse is entitled to their marital share. If the IRA, 401K or other retirement plan existed prior to the marriage, then any contributions and earnings from those contributions before the marriage date are considered separate property. However, in order to exclude the separate property portion of the IRA, 401K etc. from the marital property portion, you ..read more

Many years ago, I worked in New York City and my office was at the start of the New York City St. Patrick Day Parade (5th Avenue at 45th Street). I always enjoyed watching the parade. For those parents who are divorced or about to get divorced, it is very rare to have a special carve out for St. Patrick Day (or for other “minor holidays”). So, what if it is not your turn to have the children, but you would like to take them to the Parade? Here are some tips on what to do. Talk to Your Ex (or soon to be ex): Sometimes the easiest thing to do is just to talk to your ex or soon to be ex. The wor ..read more

How does having a criminal record effect child custody? What if you are facing a criminal charge and trying to get child custody? In addition to the criminal consequences that a parent may be facing, a criminal record or criminal charge can significantly impact your custody case. Typically, the general rule that the courts will follow is that the more time that has passed since the crime occurred, the less effect it will have on getting custody. For example, having a conviction of theft that took place 10 years ago, this one incident would most likely have minimal impact on a custody case. In ..read more

Going through a divorce is a difficult process. When you have children, it makes going through a divorce even that much harder. In the last ten to twenty years, many people who are getting divorced are the children of parents who were divorced. They have a first-hand experience of what a child goes through when parents get divorced. Many experts recommend the following strategies for protecting and helping your children cope through a divorce: The Child Must Be Able to Continue to Love Each Parent: This is the number one rule. Prior to any marital difficulties, most children are taught to lov ..read more

If you ask divorce attorneys what are the signs or behaviors that might signify that a marriage is failing, you probably will get the following answers: Financial Issues – Especially “hiding” finances: Typically, the two most common reasons people get divorced are: (i) financial issues and (ii) adultery.  If one spouse is not sharing the financial information with the other spouse, that is a signal that there is a lack of trust. If a couple starts to have trouble paying their bills or if one spouse gets fired or becomes unemployed, then this often leads to a married couple having argumen ..read more

In New York, if you or your spouse own a business (either in whole or in part), then that business is subject to distribution during the divorce process. For purposes of this blog, a “business” can be a corporation, partnership, a sole proprietorship or any entity that is operated and earns income. In analyzing the impact of divorce on a business, there are several issues to consider: Is it a “Separate Property” or “Marital Property”: As with all assets, the Court will first want to know if the business is one of the spouse’s separate property or is the married couple’s marital property. If th ..read more

In a divorce, all marital assets can be considered when distributing them between the parties. In a case that arose in upstate New York, where livestock can be worth thousands and thousands of dollars, the parties owned a herd of cows. As with any personal property, the divorcing couple had to decide which person got which set of cows. Since, not each cow was not necessarily worth the same, there was a lot of negotiation and discussion on which person would get which cow. If the couple could not come to a decision on the cows, then the Court could order the same thing that it does for any pers ..read more

As you probably know, a prenuptial agreement is a contract that will generally protect each party’s pre-marital assets and potentially any assets purchased during the marriage. If you have already made the decision to enter into a prenuptial agreement, then it is important that the prenuptial agreement is: (1) enforceable (valid) and (2) comprehensive. A prenuptial agreement that is invalid obviously does you no good.  When a prenuptial agreement is challenged, the Court will consider these factors in determining if the agreement is valid: Execution (Signature) Date: It is good practice ..read more

For some married couples, Valentine’s Day is a day of celebrating their love for each other.  However, for many other couples, Valentine’s Day can be an indication that your marriage is facing difficulties and that you or your spouse may be divorcing. Here are some signs that may indicate that your marriage is failing: If […] The post Valentine’s Day: Is it a Sign that Your Marriage is Over? appeared first on Badanes Law Office ..read more

How does having a criminal record effect child custody? What if you are facing a criminal charge and trying to get child custody? In addition to the criminal consequences that a parent may be facing, a criminal record or criminal charge can significantly impact your custody case. Typically, the general rule that the courts will […] The post How Does a Criminal Charge or Record Effect Child Custody? appeared first on Badanes Law Office ..read more