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October 2012 Archives

Baby boomer parents may rely heavily on children in divorce

As the vanguard of the baby boomer generation reaches retirement age, many issues that were not significant concerns at earlier ages may now increase in importance. For example, boomers in New York will want to look at the increasing costs of medical care, which can impair their retirement savings and assets if they experience a serious illness or injury. This discussion gains further importance in the context of divorce, which can drastically affect how boomers will be able to cover medical costs.

No-fault divorce law's anniversary sees rise in divorce cases

New York's no-fault divorce law allows couples to split without a need to prove blame on either side for the dissolution of the marriage. Since its introduction two years ago, the law has allowed speedier divorces. During this period, however, the divorce rate has risen, leading some to believe that the no-fault divorce law may provide an incentive for couples to separate.

Divorcing couples can void prenuptial agreements, but rarely

Not too long ago it was considered taboo to ask a potential spouse to sign a prenuptial agreement. The stigma attached to prenups has diminished, and more New York couples today may consider them than couples in the past. No matter how willing people are to sign these agreements at the start of their marriages, however, when the relationships end some may wonder if it is possible to break these pre-marital agreements.

Former New York governor and wife to end 19-year marriage

Divorcing a spouse after many years of marriage can raise complex property division issues. The divorcing couple may have real estate, business interests and high-value assets to split between themselves. A formal separation can be the first step on the road to filing an official divorce petition in New York State, as the situation between former Gov. David Paterson and his estranged wife demonstrates.

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