New York residents who are seeking a divorce but rely on retirement benefits may be interested in how the end of the marriage affects Social Security. Depending on several factors, including remarriage, the effect can be quite large.
Couples in New York and across the U.S. who are separating often worry about the high cost associated with divorce, but there may be ways to keep the expenses under control. It is important for individuals to bear in mind that they have more control over the situation than they may think, and how much a divorce will ultimately cost is directly impacted by how well a couple can communicate and if they can treat each other in a reasonable, fair and honest manner.
New York law requires that a person petitioning for divorce provide a reason for the action. There are seven legally-acceptable grounds for divorce set forth in section 170 of the state's Domestic Relations Law. The first six of the grounds require specific activity on the part of one of the spouses. They are abandonment, adultery, imprisonment, cruel and inhuman treatment, living separately by the terms of a decree or judgment of separation and living separately by the terms of a separation agreement.
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.
New Yorkers who are familiar with hedge funds may know of Citadel and its founder, Kenneth Griffin. The wealthy founder of the multibillion-dollar Chicago hedge-fund management firm, the net worth of which the Bloomberg Billionaire's Index lists at $5.6 billion, has cited irreconcilable differences in filing for divorce from his wife of 11 years, Anne Dias Griffin.
Some people feel relief after the end of an unhappy marriage. Most spouses see divorce as stressful but endurable. Can a breakup be pleasant? Civil is probably the most New York spouses can expect. Civility allows former partners to problem-solve and raise children together, but separately, without dragging out issues in court.
When no-fault divorce became state law in 2010, spouses no longer needed to blame a marital partner for wrongdoing to end a marriage. Divorces still may be obtained on grounds like cruel treatment, adultery or abandonment, but some New York divorce attorneys say grounds divorces rapidly are becoming passe.
Navigating money matters, even in an uncontested divorce, can be daunting. For women who try to make a financial break from an abusive spouse, the end of a marriage can be tricky and sometimes dangerous.