Your divorce has been tough, and you may already be looking to date someone new. However, dating too early can have consequences.
It’s smart to wait until after your divorce is final, especially if you have kids with your spouse.
Dating during the divorce process: should you do it?
Questions to ask yourself when facing debt in a divorce
The issue of money is among the most important issues that couples face when divorcing. The outcome decided by the court will determine greatly the reality of a financial hardships or not. Part of the money equation is determining what to do about any shared debts.
Debt between married couples need to be addressed. The types of debts matter and may influence what you are left with at the end of the final divorce decree. Every divorcing couple should ask themselves the following debt-related questions:
How a mediator helps divorcing couples compromise
Mediation is a popular method divorcing couples can use to sort through the terms of property division and child custody outside of court. By using a third party as a mediator, couples can make up their own agreements peacefully, instead of asking the courts to make decisions for them.
But how does a mediator keep couples who are divorcing from endless arguing? Here are just a few ways these sessions get divorcing people to agree.
Bieber and Baldwin opt for post-nup instead of pre-nup
News of pop sensation, singer-songwriter, Justin Bieber's engagement to model, Hailey Baldwin, came as a shock this summer just two months after the young couple began speaking again.
Rumors of marriage sparked in mid-September after the duo was seen at the New York marriage bureau. The marriage was soon confirmed. However, reporters also learned that the couple did not establish a prenuptial agreement and will reportedly opt for a postnuptial agreement instead.
How is “Best Interest of the Child” determined in New York?
If you’re in the process of a divorce or split, you’ve likely heard the phrase “best interest of the child”, but what does that mean exactly and how does it relate to your custody case? A child custody decision can be one of the most contentious aspects of a divorce. If a court is called upon to make a decision regarding custody or visitation rights for one or both parents, there are factors a court will look at to ensure the right decision is made.
There is no “one” definition to determine what the best interest may be, as each case has its own set of factors and circumstances. One parent isn’t always favored over another, but instead, a court will look at how the decision will benefit the child or children the most.
Divorce after 50 presents unique financial challenges
For some couples, retirement is when they feel they finally get a chance to spend time together after decades of working hard to build their lives. For others, it leads to a realization that they're living with someone they don't love anymore.
Starting over after a long marriage is scary, but it's becoming more and more common. In fact, according to the Pew Research Center, the divorce rate for people age 50 or older has doubled since the 1990s. This trend, known as "gray divorce," presents new challenges and opportunities for couples deciding to call it quits - often after many years together.
How will student loan debt be divided during a divorce?
Student loan debt is a significant financial burden for many Americans. After graduation, the average U.S. student owes $37,172 in student loans, and roughly one in four adult have student loans.
One of the most stressful things about a divorce can be managing finances. Perhaps you have a large student debt or your soon-to-be ex does. Either way, you may wonder how student loan debt is divided during a divorce.
Courts may award different forms of alimony
Many alimony awards take on the common form of one person paying to their former spouse monthly payments of money. These payments can go on indefinitely or they may end after a certain amount of time or the achievement of self-sufficiency for the recipient party. However, in some cases, New York couples may resolve their spousal support matters with a different form of alimony payment. Rather than paying support over time, they may agree to a lump sum award.
A lump sum alimony award is effectively what it sounds like: a single payment that encompasses the entirety of the support relationship between two divorcing parties. When a lump sum payment is made, the alimony relationship is over and the spouse who pays is not required to provide their ex with more financial help.
Does child support have to cover a child's college expenses?
The laws of New York require that parents subject to child support agreements and orders financially provide for their kids until they reach the age of 21. While marriage, enlistment in the military and other actions may emancipate children from the financial support of their parents, in many cases, children reach the age of 21 with the help of child support payments from their divorced parents. As most kids are out of high school when they reach this age, some may wonder if and how their parents will provide for them as they enter into college.
It is important that individuals understand that they can agree with their former partner to support their kids through their higher education pursuits. Two individuals who were once married with children but who choose to divorce can decide that they will work together to pay for the expenses their kids take on as they enter college. Terms regarding college costs can be worked into child support agreements with the help of family law attorneys.
The role a prenuptial agreement may play in a New York divorce
Not every couple that chooses to get married will elect to draft and execute a prenuptial agreement before formalizing the relationship between the partners in marriage. Those that do, though, create contracts that can dictate how certain financial and property-based decisions will be handled in the event that the marriages end in divorce. Because of this, individuals who entered into prenuptial agreements with their spouses may not be able to change the decisions that they made in the past regarding certain divorce-related topics.
Prenuptial agreements cannot provide couples with complete agreements on how all marital matters will be settled if divorce happens. For example, prenuptial agreements cannot establish how the custody of children will be managed as all such matters must take into account the needs and best interests of the children. Prenuptial agreements are made before marriages happen and therefore a child may not even be born when decisions about their hypothetical custody are considered in the creation of a prenuptial agreement.
