The Law Office of Lauren S. Cohen, LLC
Nearly 35 Years Of Experience At Your Side
Phone: 607-821-0100
Toll Free: 866-539-2596
Menu Contact

Being aware of financial matters important in a divorce

There are many different financial issues and information that it can be important to look into when in a divorce.

One is the earning levels of you and your estranged spouse. Having accurate information regarding income can be a big help in coming to fair arrangements regarding things like child support and spousal support.

Another is martial assets. Obtaining accurate information regarding what property is in the marital estate and what such property's real-world value is can be very important for a divorcing individual. Such information can be of great service when in negotiations regarding property division. An important thing to note is that knowing what a piece of property's real-world value is includes not only knowing its book value, but also knowing things like what tax obligations it carries with it and what its liquidity (ease of selling) is.

Another financial issue to keep in mind is insurance. Things it can be important to look into in a divorce when it comes to insurance include: what sorts of changes need to be made to your policies in light of the divorce, is there any insurance coverage you had during the marriage that you will no longer have after the divorce and who will be responsible for providing insurance coverage for the kids. Surprise is the last thing you want to experience when it comes to insurance coverage, so making sure you are aware of what the insurance situation will be post-divorce can be vital.

Yet another financial issue to keep an eye on in a divorce is debt. Being aware of what debt a marital estate has incurred, reaching fair arrangements regarding how such debt will be divided and being knowledgeable of what responsibilities, obligations and potential liabilities you have regarding the debt can all be of extreme importance in a divorce.

Given the many financial matters divorce can involve and the fact that each of these matters can have major impacts, one can understand how a person could feel somewhat daunted regarding financial issues in a divorce. Thankfully, these sorts of divorce-related issues are not something that a person has to sort out alone. You can seek out help. Family law attorneys are one of the types of professionals that can provide individuals with assistance when it comes to the various important financial matters in a divorce.

Source: The Courier of Montgomery County, "Financial items to consider during a divorce," June 21, 2014

No Comments

Leave a comment
Comment Information
Email Us For A Response

Let's Work TogetherTo Resolve Your Legal Issues. Contact Me Today.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact Information

The Law Office of Lauren S. Cohen, LLC

Johnson City Office
520 Columbia Drive
Suite 102
Johnson City, NY 13790

Toll Free: 866-539-2596
Phone: 607-821-0100
Phone: 607-821-0100
Map & Directions

Binghamton Office
49 Court St
Binghamton, NY 13901

Phone: 607-821-0100
Map & Directions

Johnson City Office
Mailing Address
828 Oakdale Road
Johnson City, NY 13790

Phone: 607-821-0100
Map & Directions