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September 2014 Archives

Jenner divorce appears amicable

New York residents may have heard that Kris and Bruce Jenner are pursuing a divorce. According to a recent report, the former couple is in the final stages of the proceedings, and the division of their joint marital property will only include approximately $60 million in assets. It has also been suggested that the end of the former couple's 23-year marriage are relatively amicable, and the divorce filing apparently cites "irreconcilable differences" as the reason for the dissolution.

What are the benefits of establishing paternity?

Because a child born to parents who are not married does not have a legal father, New York residents involved in such a situation may need to legally establish paternity. Some may wonder whether this is really necessary, and it is helpful to note that this effort assures a child of the same rights and benefits that a child born to married parents receives. These benefits may include having access to medical and life insurance benefits from either parent when available. Additionally, this provides a child with access to important family information related to medical issues.

Factors that affect spousal support decisions

Very little about divorce is simple, but the complexity of marital property distribution and spousal support can be overwhelming. In New York, if the parties involved in a divorce cannot agree on these issues, the state Supreme Court will order support from one spouse to another based on the circumstances of the case.

Uncontested divorces in New York

In New York, couples who are seeking a divorce can go through the process of a contested or an uncontested divorce. If the couple cannot agree on the terms of their legal split, they must involve the court in a contested divorce. If they can agree, however, they may be able to file for an uncontested divorce.

How forensic accountants aid divorcing spouses

Spouses preparing for divorce in New York might benefit from getting third-party help, but one person some may not consider is a forensic accountant. A divorce may feel like an emotional issue, but at its core, at least legally speaking, divorce is about dividing assets and liabilities. Each spouse may have assets in a marriage which could be considered separate property during a divorce. Dividing jointly owned property is where a forensic accountant can be helpful.

Are inheritances subject to divorce property division?

New York residents may be interested in learning about the treatment of inherited assets in marital property division. Property belonging to married spouses is considered to be either marital property or separate property. Separate property is defined by a few general rules. Property inherited or gifted by a third party to either partner, lawsuit settlements and property owned before the marriage or received after the date of separation is usually considered separate property. Property specifically reserved by a prenuptial agreement is also protected from becoming marital property.

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