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News about Divorce Law in New York State
Divorce Survival Kit —
Financial Planning and Tax Considerations
ContentsStrategically your next move is extremely important in all aspects of life, but never more important than in your divorce proceeding. At the first sign of trouble in your marriage, you may begin to feel helpless. You might not know what to do first. This article is designed to provide you with certain planning techniques and tools which should empower you to get a better handle on what to expect from your divorce. Further, we will discuss herein what you should be doing to assist your lawyer in getting a good result in your case.
Warning: The information contained herein is not intended to substitute for legal advice from your own retained lawyer in new york state. This article is merely informational in nature, and is based upon one attorney’s knowledge of the practice of family law, matrimonial law, domestic violence, child custody, child support and orders of protection.
Be sure to Xerox any items you can get a hold of legally, such as tax returns, bills lying around the house, deeds, mortgages, and bank statements or brokerage accounts. Make copies of all bank statements and cancelled checks and bring all of these materials with you to your divorce lawyer.
If you have not done any planning beforehand, your spouse will have the upper hand. If you have not been the bookkeeper or "bill manager" of your marriage, then become one. Make a point of familiarizing yourself with the location of the financial records of your marriage, and the contents of the files. If your spouse is employed by a corporation or large firm, be knowledgeable about his or her employee benefit package.
What am I entitled to in a NY divorce?
Believe it or not, you may have a vested interest in pension and other benefits which have been earned during the marriage. If the records are not kept in the home, make a point of discovering the accountant in charge of your family's finances. If at all possible, get a copy of all pertinent financial documents.
Some of the documents you will want to have in your possession are the IRS returns, your spouses' pay stub, the mortgage and deed to any real property, such as the marital residence, copies of stocks, bonds and IRAS, and all bank records and cancelled checks.