There is a chance you have heard of “no-fault” divorce, especially if you have been considering getting a divorce yourself. For many people, it can seem like an odd term, especially when many no-fault divorces still wind up being incredibly contentious. But what is it that makes no-fault divorce special, and what is the alternative? Continue reading “What Makes a Divorce “No-Fault?””
In New York State, a judge will determine the equitable distribution of assets if there is no prior written agreement between the parties. Equitable distribution refers to the separation of assets and financial responsibilities of the parties. In order to properly complete this process, a judge must know all of the marital assets and debts, including student loans.
This is where matters relating to family law and child custody decisions are decided.
Generally, in a divorce, there are communal assets and separate assets. In New York State, all assets acquired during the course of a marriage are considered communal property. This is commonly known as shared property or marital property. Separate assets refer to property that is independently owned by one spouse. Today, distinguishing between separate property and the communal property has become more complex, due to more individuals having a significant number and range of assets.
In New York State, the law provides for an “equitable distribution” of assets and liabilities that were accumulated throughout the duration of a marriage. The majority of the accumulated assets obtained during the marriage are considered to be marital with a few exceptions. The first step in determining equitable distribution is to evaluate the total assets and liabilities. If an individual is considering filing for divorce, it is important that he or she determines what constitutes marital and separate property as early as possible.
When individuals are in the middle of their divorce proceedings, filing taxes may be the last thing on their minds. However, many who are in the midst of a legal divorce may have similar concerns when it comes to how they file their taxes. Do I file jointly or separately from my spouse? If we file jointly, how should the refund be paid to each party?
Sometimes an individual seeking a divorce has trouble serving their spouse with divorce papers. A Manhattan Supreme Court has ruled that Facebook may be used to serve a spouse via private message.