If, in the event of a divorce, there is a settlement agreement drafted and signed by both parties, it stipulates and sets forth how the parties will operate post-divorce. This includes assigning custody of the child or children, child support,…
If, in the event of a divorce, there is a settlement agreement drafted and signed by both parties, it stipulates and sets forth how the parties will operate post-divorce. This includes assigning custody of the child or children, child support,…
If the spouse who has been ordered to pay child support experiences a significant reduction in their income, like through a demotion or a loss of work, it is not always enough to reduce child support. This type of circumstance,…
While infidelity, or adultery, as grounds for divorce in New York, it actually has little to no impact on a financial settlement handed down by the court. Of course, you can still file for alimony and be awarded what you…
Many spouses who find themselves paying spousal support want to know the tax implications that are applied. In short, spousal support must be reported as taxable income by the recipient, and can be deducted by the paying spouse. Do not…
It would seem logical that if during the marriage, a spouse was the victim of domestic violence, then during the divorce trial, and more specifically, when hashing out support payments, that would be a mitigating factor. And to some extent,…
When you retire, there is the possibility that your financial circumstances will change. In some cases, social security starts coming in – replacing your current method of income. You would need to adjust your lifestyle. Many still pay for spousal…
When a married couple decided to get divorced, the judge will consider, and most often award spousal support otherwise known as “alimony,” to one of them. This will be decided either before the trial, where the two parties can make…
The purpose of alimony or spousal support is to limit the economic effects of a divorce proceeding. It is granted to the unemployed or lower-wage-earning spouse as a source of continuing income. The court is aware that there are countless,…