Financial Planning

t is important to get your financial papers in order. Critical papers include tax returns, pay stubs, bank and credit card statements, pension plan documents, health & life insurance policies, and copies of mortgages and deeds. It may be helpful to keep track of major purchases and assets acquired during the marriage. It is often recommended you establish your own credit and open a separate bank account. It is important that you establish and maintain  financial independence.

If you have children, this time can be especially trying. It is important to give your children emotional support and maintain the continuity in their lives. If you want to have child custody, do not move out of your family residence without the children before asking your divorce attorney. Take care of your children by spending as much time as possible with them and be truthful and honest. Remember that the divorce is your problem, not the children's. 

Mental and Emotional Planning

Remember to focus on your life goals beyond divorce. Many people will postpone a divorce because of the fear of uncertainty. Emotional endurance and balance are important to lead you through this difficult time. It is helpful to get strong emotional support and encouragement from trusted friends, family, spiritual advisors or health care professionals. There are many books and materials written about divorce that can help with the emotional part of the process. However, each state has different laws, rules, regulations and procedures when it comes to the legal aspects of divorce. Therefore, it is best to leave the legal aspects to a qualified attorney.

Terminology

The terms Divorce, Separation, Legal Separation and Annulment are often used interchangeably but have very different legal implications.

• In a divorce, the New York State Supreme Court declares a marriage to be dissolved.


• In a separation agreement, two parties agree to specified terms on how they will no longer be actively involved in a marital relationship but are still legally married.


• A legal separation goes a step further and has the backing of a court judgment.


• An annulment declares a marriage contract null and void. In other words, it is as if the marriage had never taken place. Annulments are difficult to obtain and generally always require the assistance of an attorney. If you want to obtain an annulment for religious reasons, it is also important to consult your religious advisor.


• In New York, you can not simply disinherit your spouse to end the marriage.


• Divorce is never easy, but with the assistance of a knowledgeable attorney, it is likely that a resolution will occur quicker and with less hassle that if you were to proceed on your own. We are here to guide you every step of the way. If you are interested in finding out more about our services or ready to get started with the legal process, please call one of our matrimonial attorneys.

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