New York Divorce Attorney
Gregory Salant is a well respected New York Divorce Attorney. Most divorces are finalized without going to court. Spouses can negotiate the process of divorce settlement informally or through out-of-court processes like mediation or collaborative law. However, the court still affirms the terms of the agreement. If the judge disagrees on some terms, the spouses will be required to continue negotiating those terms. The case could proceed to trial if a divorce settlement is not reached. Couples can minimize stress and contention during a divorce proceeding by being well prepared.
Factors considered in a divorce settlement include:
All assets obtained during the marriage are considered marital property. These assets are subject to division in a divorce settlement with the exception of a gifted property or an inheritance. Property obtained by an individual prior to the marriage remains personal property. Marital property includes anything bought after the marriage, such as a houses, cars, furniture or clothing. It also includes anything else that has value, such as bank accounts, cash, security deposits on apartments and pension plans. Material assets are inventoried and evaluated before they can be divided.
Marital debt is a joint responsibility, if both parties co-signed for it. This includes joint credit card debt and loans. The court indicates which party is responsible for paying certain bills, while dividing the money and marital property. For example, a spouse who is awarded more assets may also be assigned more debt.
Alimony is spousal support ruled upon by a judge. It can be awarded temporarily or permanently to either spouse if the divorce creates a financial disadvantage or deficiency in their lifestyle. Couples filing a divorce need to determine whether alimony will be paid and for how long after the divorce is finalized.
Child Custody and Support
The couple should determine child custody, child support payments, health insurance coverage, educational costs and financial issues as it relates to the child.
For more information please contact New York Divorce Attorney Gregory Salant at firstname.lastname@example.org or call 914-683-2500for a free consultation.