Making the guest list, choosing the flower arrangements and planning for a separation? Most people in New York do not associate prenuptial agreements with the process of wedding planning, but experts agree that this is ideally one of the best times to prepare for a possible divorce. Still, not everyone is convinced of their usefulness.
Divorcing late in life can come with a number of additional concerns that younger couples do not necessarily have to confront. Although ending a marriage closer to retirement usually means that parents do not have to worry about child custody or support, separating marital assets can be somewhat more difficult. Among these concerns, older New York residents often want to know their options for collecting Social Security benefits on the work record of their former spouse after divorce.
By the time someone in New York files to end his or her marriage, he or she is usually mentally ready to do so. However, being mentally prepared for a divorce is much different than being financially prepared. While divorce can be an incredibly emotional process for many couples, it is also a process that can have unintended consequences on future finances.
Social media is evolving into something much more than a fun way to share pictures and updates about life. Increasingly, social media is being cited in one form or another during divorce proceedings. From revealing information about a new job in an email to Facebook pictures that show a certain level of financial prosperity, this relatively new way of sharing information is affecting everything from property division to child custody agreements.
Known for his success in New York real estate, Harry Macklowe recently made headlines again, but for a very different reason. The billionaire filed for what most believe to be a billion-dollar divorce from Linda Macklowe, his wife. The couple never signed a prenuptial agreement, and some fairly significant assets will soon have to be dealt with during property division.