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August 2011 Archives

Experts advise updating estate plans during divorce

Divorce settlements focus on spousal maintenance, child support and asset division, but many soon-to-be ex-spouses forget to change the beneficiaries' names on financial documents. Tax attorneys and estate planning experts say divorcing spouses, fraught with turbulent emotions, often neglect to update wills or other accounts that have a designated beneficiary.

New York divorce judge refuses to divide assets based on IQ

The former CEO of Cendant has tried to convince a New York court that his IQ should give him the financial edge in a divorce from his second wife. A New York judge, however, declared that "genius" is not reason enough to take more than his fair share of marital property.

Focusing on the financial aspects of divorce

Thinking clearly through a divorce process can be an endurance test for many New Yorkers. Divorcing spouses often allow the financial impact of a divorce settlement to become secondary to emotions at a time when practicality needs to be a priority. Property division, long-term financial plans, child support and spousal maintenance are issues that can easily overwhelm people who are facing the end of a marriage.

Military benefits for married troops don't include same-sex couples

The adoption of same-sex marriage laws in New York has continued the discussion about gay service members. The number of married gay members serving in the military is expected to rise, but the government doesn't offer the same spousal support for same-sex couples as it does for heterosexual service members.

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