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New York City Divorce Law Blog

Hedge fund founder's ex-wife loses another court battle

When a couple with considerable wealth divorces, it's essential that both spouses provide a complete and truthful accounting of their assets. Sometimes, one or both will bring in forensic accountants if they believe that their spouse is hiding assets to minimize his or her payment to the other.

The ex-wife of Steven Cohen, the founder of SAC Capital Advisors, has been fighting a seven-year battle against her former husband, claiming that he hid millions of dollars from her in their 1990 divorce. After yet another ruling against her on May 19, Patricia Cohen may not be finished fighting, according to her attorney. He said, "If all the evidence were put before a jury we believe a jury would find for Mrs. Cohen."

Whether you get a prenup or not, talking about money is essential

There are a number of advantages to getting a prenuptial agreement before you get married, even if you're just starting out and haven't accumulated a lot of assets that you're concerned about protecting. One of these is that it forces couples to talk about money.

Divergent attitudes toward issues involving money have torn apart many marriages. That's why it's important to know that you and your partner have similar views about it.

How to be the best divorced dad you can be

With Father's Day coming up soon, many divorced fathers are dwelling on the areas where their parenting can stand some improvement. Others are trying to be the best possible dad despite not having primary custody of their children.

If you're going through a divorce, it's certainly preferable to seek joint custody of your children. Judges are generally in favor of this as long as there's not something in your life or your history that would cause concern.

Is your spouse hiding assets in preparation for divorce?

Getting divorced is rarely easy, and one of the challenges couples sometimes face is deciding how to divide up assets.

The courts consider what property is marital property, and what is separate property. They strive to make things equal, but it doesn't necessarily mean that the division is 50/50 from a strictly financial standpoint. It is based on what the court deems as fair, and how each person's separate life is likely to look after the divorce. 

Encourage your kids to enjoy Father's Day with their dad

One of the toughest holidays for many families of divorce has just passed and another one is upon us next month. We're talking, of course, about Mother's Day and Father's Day. Even if your ex ignored Mother's Day, Father's Day shouldn't be about payback. It should be an occasion for helping your kids appreciate their dad -- just as it probably was when you were together.

Following are some tips for divorced moms to help make Father's Day special for their kids:

What unmarried fathers need to know about paternity

People who are married with kids rarely have to give the subject of paternity much thought. But for men and women who are single when they have children, this legal designation isn't something to take lightly.

Whether you are a father seeking to establish paternity to create a meaningful relationship with your child or you are looking to prove that you are not the father to avoid financial obligations, you need to understand your rights and be sure to take the appropriate steps.

Why a prenuptial agreement is good for your marriage

Prenuptial agreements get a lot of press as something that people only do to protect themselves; some people may even be offended when a soon-to-be spouse wants to have one. The truth is that prenuptial agreements can protect you and your spouse if it's negotiated correctly.

There's no hard and fast rule that you have to sign the prenuptial agreement presented to you, and your attorney may be able to help you negotiate better terms. In the agreement, you can designate income to certain things, make requests for compensation when certain terms are met and make agreements on what happens to your assets if you decide to divorce.

How do you keep your divorce from impacting your work?

It's only natural that a life-changing event like a divorce will impact your work. In addition to the emotional component, it can be time consuming. Of course, the more contentious or complex the divorce, the more time you're likely spending in court, meetings, conference calls and depositions.

If you're running a business or have a crucial position in your company, you may have more leeway with your time than most people do. However, you also have a multitude of responsibilities that you must continue to fulfill.

How to talk to your future spouse about a prenuptial agreement

The marriage proposal was picture perfect, and you and your betrothed couldn't be more excited to spend the rest of your lives together. There's just one lingering issue you're afraid to bring up: the prenuptial agreement.

Prenups used to be the strict domain of the wealthy and previously married. And while those with a high income or children from a previous relationship should still strongly consider drafting a prenup, these agreements are also gaining popularity with younger people getting engaged for the first time. Yes, there are laws in every state that address how property should be divided in the event of divorce. But if you and your mate want to deviate at all from those laws, a prenup is well worth considering.

Take some time before buying a home post-divorce

Finding a new place to live is necessary for many newly-divorced people. Often, couples opt to sell the family home in the divorce because it's too much for one person to afford.

You may be anxious to get a new start by buying your own home. However, there are some good reasons why you're better off renting an apartment or home for a year or two.

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