When getting a divorce, whether in New York or elsewhere, there are some assets that can be easily distributed without any penalties. However, asset division of certain accounts, like a 401(k) for example, can come with a pretty hefty price tag. In order to split retirements accounts a qualified domestic relations order (QDRO) is needed, but the processing fee can be significant.
In New York, it is possible to file either for an at-fault or no\-fault divorce. Both serve the same purpose -- ending the marriage -- but each has different requirements. This column will address what grounds are acceptable for an at-fault divorce filing.
Divorce is very difficult for adults to handle, but even more so for children. Now that you and your husband have agreed that divorce is your best option, it is time to decide how you will continue to successfully parent your children.
Deciding what you want to get out of your divorce proceedings can be difficult. Going in, you may have an idea of what property you want to keep or you may not care as long as you get your fair share. Asset division is one of the hardest parts of the divorce process for couples in New York. Not only is it challenging to decide who gets to keep what, but how things are divided can impact other areas of the final settlement.
For many couples in New York and elsewhere, the dissolution of marriage is, understandably, an emotionally challenging process. It can be difficult to get through a divorce without one's emotions running at an all time high. However, by taking emotion out of, if at all possible, and treating the process like a business transaction, achieving a fair and balanced settlement may come a little easier.