New York uniquely classifies a spouse’s enhanced earning capacity (a professional degree or license) or professional practice or business as an asset for equitable distribution purposes. In order for enhanced earning capacity or interest in a business or professional practice to be considered during equitable distribution, it must be “marital property.” For example, a license or degree is marital property …
Overview of Equitable Distribution in New York
New York courts in a matrimonial action uses the term “equitable distribution” to describe how the assets will be divided between the two spouses. The term “equitable distribution” refers the equitable (not necessarily equal) distribution of marital assets upon a divorce. (When I tell my clients that the court divides things “equitably” not not necessarily “equally” I get a …
Overview of the “No Fault” Divorce Ground in New York
As a matrimonial attorney, I receive a lot of questions about “no fault” divorce law. No fault law in New York did not remove the need for a “ground” in order to be divorced. In other words, New York has been and still is a “grounds” divorce state. Until October 12, 2010, there were only six grounds for divorce in …
Already Married? What You Need To Know About Post-Nuptial Agreements
In some states, such a New York, couples are allowed to enter into an agreement after a marriage or civil union called a post-nuptial agreement discussing things such as, but not restricted to, the division of property (real property, personal property such as livestock, cash assets), child support, spousal maintenance, and a restriction on relocation (e.g., spouse cannot relocate out …
Additional Topics To Be Discused At NY Family/Matrimonial Law Seminar for Mental Health Professionals
I hope that my readers had a wonderful Fourth of July. It’s one of my favorite holidays. As I noted in this previous post, I am completing a family/matrimonial law seminar series with Deborah Kaminetzky, Esq. The next seminar will be held on July 12, 2011 from 9:30-11am at the Marriott Hotel in Farmingdale, New York. It costs $25 to attend and …
NY Family/Matrimonial Law Webinar for Mental Health Professionals
As I noted in this previous post, I am planning a Family/Matrimonial Law seminar series for mental health professionals in New York City and Long Island. I have been contacted by a few therapists in Manhattan that cannot make the seminar next Tuesday. There will be a webinar next fall for those of you who could not make the seminar …
Approaching Wedding Season: Is a Prenuptial Agreement Prudent for Your Agriculture Business?
For those of you who missed it, in this previous post last fall I discussed why I thought prenuptial (“prenups”) agreements were “romantic.” Last night, I came across this Fact Sheet by Chris Zoller and David Marrison from The Ohio State University Extension Office discussing prenuptial agreements for farms. The Fact Sheet properly states that “[f]arm and agriculture businesses often …
The New “No Fault” Divorce Law in New York
I want to preface this blog by saying that I’m a huge fan of marriage, family, Prince Charming, and (most) romantic gushy stuff (and if you want to send me flowers I prefer daisies or violet roses!). I believe that love is sometimes a choice and couples should do everything they possibly can to stay together- in the good times …
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