While not always the case in New York, high-asset divorces often coincide with very public separations. Wealthy couples often play key roles as community leaders from a commercial, political or entertainment standpoint. Because there is so much at stake, these divorces are arguably far more likely to be messy.
Social media is supposed to bring people together. While this is true in some case, many married couples experience a great deal of stress over social media. Unfortunately, it gives cheating spouses an easy and convenient way to carry out affairs, which can quickly lead to divorce. Very Well Mind explains some of the more common indications that a spouse is having an online affair.
Couples divorcing this year in New York may be surprised to learn that the new tax laws affect divorce and spousal support. According to CNBC, the changes reverse tax laws put in place almost 80 years ago that made it easier for ex-spouses to make and receive alimony payments. In the past, the spouse receiving alimony paid taxes on the amount received, while the paying spouse took a tax cut. The new laws allow the receiving party to exclude it from their taxable income, while the payer must now pay taxes.
When New York’s court system has to make decisions regarding child custody or visitation, the people tasked with doing so will typically consider the child’s best interests before making any determinations. There are many different aspects that the courts will consider when determining a child’s best interests, and, as you might imagine, these factors vary to some degree based on a child’s age.