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New York residents may be concerned with alimony, asset division

Celebrity divorce cases can become complicated, but they may also provide information for New York residents to consider in the event of their own divorces. It was recently reported that singer and actress Katherine McPhee finalized her divorce from her now ex-husband Nick Cokas. The couple had been married for six years, and it was reported that alimony and asset division have now been determined.

The 31-year-old actress will apparently be required to pay spousal support to her 51-year-old ex-husband. Reportedly, she will owe up to $400,000 a year, and she was expected to pay more than $100,000 within a few days of the report. Details on McPhee's annual income and how the alimony amount was settled were unclear in the report.

For their property division, reports stated that the couple would share McPhee's earnings from a previous television show, along with income from songs she recorded during their marriage. It was also noted that McPhee will keep a 2012 SUV, while Cokas will maintain ownership of a 2013 SUV. Additional information on other property was not available.

Divorce proceedings can take time, and coming to terms on alimony and asset division could cause some conflict. If New York residents are concerned about the terms of their divorce agreements, they may wish to find out which options they may have for working toward the outcomes they desire. Information on divorce proceedings could allow them to better understand how their specific circumstances could affect their cases, and assessing their situations with experienced lawyers may prove beneficial.

Source: Us Weekly, "Katharine McPhee Finalizes Divorce, Ex-Husband Getting More Money Than You Might Think", Joyce Chen, Feb. 10, 2016

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