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Brooklyn Family Law Blog

New York residents' homes may be important part of asset division

A person's home typically acts as a place of security and comfort. Because many memories are often made in the family house, a strong attachment can commonly form to this piece of property. However, when a couple decides to divorce, the home could become a point of contention when it comes to asset division. 

Typically, either of two options works best depending on the specific circumstances for New York residents. When dividing property, some individuals may choose to simply sell the home and deal with the resulting proceeds or losses. Proceeds could come with certain tax implications; therefore, individuals may wish to consider how taxes could affect them financially and with other aspects of their property division. If the selling of the home resulted in losses and remaining mortgage balances, individuals would also need to determine their best options for handling the remaining payments. 

Formal custody arrangement may help New York parents avoid scares

Children are often the most important people in their parents' lives. However, if those parents are not married, custody issues could put a strain on everyone involved. If the parents do not have a formal custody agreement, the likelihood of complications may be high, and in some instances, the situations could escalate to a point where the authorities become involved.

New York residents may be interested in such a case that recently took place in another state. Reports indicated that a 17-month-old boy was kidnapped by his uncle during a custody dispute between the boy's parents. The parents do not live together and apparently do not have a legal custody arrangement in place. It was unclear what exactly motivated the uncle to take such action.

Complex divorce in the city? It doesn't have to be disastrous

Divorce is rarely simple, and for couples with significant assets who live in a world-class city like New York, the process can seem like a disaster waiting to happen. This does not have to be the case, but without proper guidance, it very well could be.

Living in a large city is innately more expensive and complicated, making it more difficult to determine how to fairly divide your marital assets and where each of you will land after finalizing the divorce.

Gaining advocates during divorce may help New York residents

Many New York residents likely do not want to think about their finances in a stressful capacity. However, going through divorce takes a considerable toll on a person's financial affairs, and therefore, close examination of those affairs often proves necessary. Not only will individuals likely want to protect their assets as much as possible, but attempting to determine how certain decisions will impact their futures is a prudent step.

When it comes to asset protection, there are various courses of action individuals could utilize. First, because many personal accounts provide for online access, changing passwords may be wise. This action could help keep any potential malicious tactics at bay should a soon-to-be ex attempt to sabotage personal accounts or hide assets.

Divorce: Prenups may be in New York residents' best interests

The idea of getting a prenuptial agreement may cross the minds of many New York residents who are considering marriage. However, numerous people forgo creating such an agreement due to fear that their soon-to-be spouse may be offended by the idea. Though it may be a sensitive topic to approach, individuals may wish to seriously consider such an agreement in order to prepare for the possibility of divorce.

When it comes to creating a prenuptial agreement, many areas of life could be covered. Most often, individuals want to come to terms regarding how property will be divided should they decide to end their marriage. Premarital property, gifts and other assets could be addressed, and individuals could determine which party may maintain ownership of what property.

Back child support lands former NFL player Meachem in jail

It is not altogether unusual for individuals to struggle with their divorce settlements. However, if parties do not make their alimony and/or child support payments as required, serious issues could come about for everyone involved. New York residents may be interested in one case that recently resulted in a former professional football player going to jail. 

Reports stated that Robert Meachem and his ex-wife have two children, and they share custody of the kids. However, Meachem was ordered to pay child support and alimony to his ex-wife. The amount for both forms of support reportedly totaled $20,000 a month. However, the former footballer has fallen behind on those payments, and he owes approximately $400,000 in back support. 

Child custody complications may impact New York families

It is not uncommon for individuals to relinquish their parental rights or to have those rights taken away by the court due to legal issues. However, if those rights are unjustly taken away, a New York parent could face a difficult child custody battle in hopes of getting his or her child back. If another family has already adopted the child, the situation may prove even more tense.

Such a case is currently taking place in another state. Reports indicated that the custody of a 3-year-old girl was at the forefront of the matter as her biological father wanted to have the child in his life. However, while the man had been in jail, the girl had been adopted by a family who had been fostering her since she was only weeks old. 

Protecting assets is an important aspect of New York divorce

Having the right information can help New York residents work toward the outcomes they desire in a variety of situations. Divorce is once situation in which knowledge can be a valuable tool, especially when it comes to determining how such a process may affect a person financially. Therefore, individuals may wish to take necessary steps to prepare for their proceedings.

Property division can have considerable financial impacts. One step that individuals may wish to utilize is identifying which assets will be addressed during the divorce process and to whom the assets belong. Once individuals understand what may be their separate property, they can organize and work toward addressing those assets and other property that could potentially be divided.

Family home may be important aspect of asset division in New York

Many individuals often become attached to their homes because of the memories made in them. However, when a couple goes through divorce, they may have a hard time deciding what to do with that home. When it comes to addressing the house during asset division, New York residents have a few options. 

If neither individual wants to keep the home, selling the property outright and splitting the proceeds may be the most common and sensible option. Of course, the split may not necessarily be even as the terms of the divorce settlement and other property division decisions could come into play. Therefore, individuals may wish to plan ahead as much as possible in order to determine how their finances could be impacted after the house is sold. 

Might your child's other parent be abusive? Act now.

As a parent, it is always difficult to accept an unfavorable custody settlement, but that does not mean you should make concessions when it comes to your child's safety and well-being. There are a number of legitimate grounds on which to pursue a modification to your custody agreement, and chief among them is concern for your child's safety.

When a court determines a custody arrangement, it does so by examining the information at its disposal to decide which parent is able to provide the best life for the child. Often, however, this can occur on unfairly impersonal terms.

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