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Brooklyn Family Law Blog

Is it possible to share a business after a divorce?

Many people are familiar with the challenges of co-parenting after a divorce, but what about running a business together? For many New York exes, shared commercial ventures are among the most contentious things they face when untying the knot. Many may wonder about their options when it comes to a shared business, and whether continuing to run a lucrative business together despite the divorce is a good idea.

One of the major issues that can arise for exes who choose to continue with a shared business venture is that new partners may have difficulties with the arrangement. This can be particularly problematic for new partners if running the business requires close contact between both parties. Establishing boundaries is important in these cases, and partners should do what they can to support these boundaries and clarify their comfort level early on. 

Critical aspects of a valid New York prenuptial agreement

As the true benefits of prenuptial agreements become widespread knowledge, more couples are considering them. Before choosing to create a prenup, it is important to understand all that it entails.

A poorly constructed prenuptial agreement may not hold in court. Therefore, it is imperative that the parties work with skilled attorneys to ensure that their agreement meets specific necessary requirements in New York.

Not knowing about finances can cause stress in gray divorce

Since the 1990s, the divorce rate among those 50 years of age and older has doubled. The trend, known as gray divorce, can have several positive and negative effects on those left in its wake. New York women who may have spent decades in the dark about their finances may be in for some difficult realities during financial disclosure and divorce negotiations.

Data shows that 56 percent of married women in the United States continue to turn to their husbands to make major investing and financial planning decisions. For some, this is a decision they come to regret. The same study found that 59 percent of widows and divorces regret not being more active in long-term financial decisions during their marriage.

Therapists and attorneys can help achieve an amicable divorce

When a marriage comes to an end, it is difficult to not have hard feelings toward the other spouse, depending on each couple's circumstances. Despite the emotional turmoil that a divorce can foster, many couples are able to achieve an amicable divorce. New York couples who have decided to divorce may be interested to learn that many therapists in conjunction with their family law attorney may be able to assist a couple in parting ways as peacefully as possible.

Recently, a few therapists and marriage counselors were interviewed in order to understand how counselors approach couples who have little hope to repair a marriage. According to some therapists, many couples arrive at therapy with no hope of repair. On average, most couples have had marital strife for as many as six years before seeking help. The longer problems have existed, the harder it is for a couple to reconcile differences.

Child custody order favors father in bitter dispute

The same passion that can draw a couple together in a relationship can also cause fierce battles in the aftermath of a relationship's demise. Some couples have the added complication of dividing property and making decisions regarding the care and well-being of their children. New York parents may be interested in the outcome of one recent child custody case between a mother and father in another state.

The mother and father of a now 4-year-old girl have been in a child custody dispute for approximately three years.  According to the father, just after his daughter's first birthday, the mother began trying to influence the daughter against her father. Over the last three years, the mother filed five different complaints against the father, accusing him of sexual abuse.

How to value art in divorce

When it comes to negotiating assets in divorce, many couples find themselves in need of artful tactics to secure their interests. Indeed, disagreements in marriage and divorce are as old as art itself. In recent years, art collections have grown as the value of many pieces continues to appreciate. But, as the value of art increases, so does the conflict among art-collecting couples seeking divorce.

What does the value of art mean to couples in divorce and how is it affecting asset division?

Practical tips for a name change after a divorce

For many New York spouses, changing their name after the end of a marriage is a deeply rewarding experience. For some, the name change signifies the beginning of a new phase of life. Others look forward to eliminating such a daily reminder of a link to a family that is no longer theirs. Regardless of the motivation behind a post-divorce name change, the process involved in completing that task has numerous steps. 

The first place to begin is with government-issued identification. While few people look forward to a trip to the DMV, that is probably the best place to begin. Be sure to check the DMV website to make sure that the proper documentation is in hand, and consider visiting during non-peak hours. The Social Security office should also be one of the first stops. 

If there was never a marriage, there won't be a divorce

For New York couples preparing the end their union, it may be helpful to take a close look at their wedding photos. Not to take a punishing stroll down memory road, but to remind the parties of who officiated the marriage. Depending on the laws of the state where the couple married, and those of where they will divorce, the credentials of the individual who conducted the ceremony may be very important. 

In most states, members of the clergy are authorized to perform marriage ceremonies. Judges and magistrates are also commonly tasked with joining partners in marriage. However, some states have specifically excluded "online ministers" from that role. For couples who allowed a friend or family member to officiate their wedding, that could prove to be a problem. 

Retirment account division in divorce can be complicated

When considering ending a marriage, there are multiple items and assets New York couples must consider when negotiating property division. According to data, the division of retirement accounts and pensions are some of married couple's most contested topics of division when negotiating the terms of a divorce. Division of retirement accounts is often complicated and requires some expertise to navigate through the process.

Because a couple's retirement account or accounts may contain the majority of their wealth, it is understandable that it would be a contested part of a divorce. Splitting a retirement account or pension is not as easy as other assets in a marriage. Most couples may have retirement accounts in 401(k)s, pensions and/or IRAs. The type of the account determines the rules that must be followed for a successful division.

Asset division: Couple argues over antique shaving mug collection

Every person values different things in their lives for different reasons. Some items are also considered to be valuable by others, while others may just hold sentimental value to the owner. When a divorce occurs, asset division can be a contentious battle between the couple if both value the same shared property. New York couples with valued collections may be interested in an elderly couple's battle over antique shaving mugs.

Over their 70 year marriage, the 90-year-old husband acquired over 1,500 antique shaving mugs. The mugs were apparently common to use when men visited barber shops on a daily basis, but are now considered antiques with their limited use in the last century. The former husband claims that the set is valued at $1,000,000, but if the set is split as the former wife requests, it will diminish the value of the collection.

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