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Broome County Family Law Blog

The perks of a shared custody order

Parents in New York and throughout the country could benefit in many ways by sharing custody of their kids. For instance, the other parent can help pay for school supplies, clothes and any other childcare expenses that come up. The other parent can also make it easier for a person to spend some time on their own, which could be helpful from a professional and social standpoint.

Those who are looking to date again can feel good knowing that they are able to meet other people without neglecting their children. It can also make it easier to stay late at work on certain days or spend more time getting a degree or completing a certification program. Getting an education could make it possible to earn more at work or progress farther in a career. In some cases, having alone time can help a parent recharge or simply engage in their own interests for a day or two.

Why a Facebook divorce is a really bad idea

If you are like most New Yorkers, you love social media. In fact, you may suspect that you spend too much time keeping up with your friends and family online. There is no question that Facebook, Twitter, LinkedIn, et al. are wildly popular and here to stay. During one period of your life, however, you should fight your social media obsession and stop posting: when you go through a divorce.

Many divorcing posters have discovered to their detriment that telling the world about their divorce on Facebook is unwise and possibly self-defeating. Why? Because even as far back as 2010, 67 percent of American divorce attorneys admitted that Facebook was their best source of negative information about their clients’ spouses.

Visitation agreements and custody modifications in New York

Child custody and court-ordered visitations are important because children typically have needs and rights to be able to maintain healthy relationships with both parents. In many cases, parents can discuss concerns one has with the other's parenting style or household rules, and the two might come to an agreement between themselves. If the relationship is not on decent terms, trying to communicate may not work.

It is possible that extenuating circumstances may surface after a court order has been issued. With good enough reason, modifications to existing child custody and visitation agreements might be initiated. If a parent has enough cause or a compelling enough reason to believe that their child is in danger, they can act to revoke or change custody and visitation plans.

Asset division and divorce among older adults

Divorce is on the rise for older couples, but in some cases, these divorces may be relatively amiable. Often, they occur because once the children are grown, couples realize they have grown apart and go their separate ways. Couples in this age group may have acquired a number of assets to split fairly, but there are several pitfalls they should be aware of.

For example, 401(k)s and pension plans need a document known as a qualified domestic relations order before they can be split. This document allows these types of accounts to be divided without incurring taxes and penalties. IRAs do not need a QDRO, but the amount a person receives does need to be rolled into another IRA to avoid penalties and taxes. There are other complications with different investments. Annuities all have different sets of rules for division. In some cases, because dividing assets is so complicated, couples instead opt for one person to take some assets and the other to take different assets of equal value.

Student loan burdens can lead to divorce

Student loan debt imposes a crushing burden on lots of New Yorkers, especially millennials. While many people are aware of the devastating impact educational debt can have on a borrower's financial well-being, fewer may recognize the role that it can play in undermining marriages. Financial disputes are among the most common reasons for marital problems, and the substantial burden of student loan debt is often no exception, according to one recent survey by Student Loan Hero.

Student loan borrowers in the United States have an average debt burden of $34,144, and that number is on the rise. For graduates of the class of 2017, the average student loan debt was $39,400. Many people with student loans may be troubled about how they can repay their debt. That stress and pressure can lead borrowers to delay important milestones like having children or purchasing a home, and the resulting disagreements can also lead to divorce.

Congress proposes new bankruptcy protection for student loan debt

Individuals in New York struggling with student loan debt may be interested in the new bankruptcy rules that are being proposed for students who have debt. Student loan debt in the United States is estimated to be around $1.4 trillion. Billions of dollars of student debt are at least 90 days delinquent according to the Federal Reserve Bank in New York. It is clear to see the burden that student loan debt is having on many people.

When a person files for bankruptcy and has their loans discharged, they are no longer required by law to repay the loan. In recent years, though, it has become very rare for a court to discharge student loans when a person files for bankruptcy.

3 reasons men might need spousal support

There is a cultural revolution underway, calling into question many of the assumptions that have defined gender roles for decades. This progress has benefitted women greatly, but men have also been freed from many of the outdated pressures of being breadwinners solely because of their gender. In turn, there has been an increase in the number of men seeking alimony support after a divorce.

According to Time, only 3 percent of alimony recipients are men. Needless to say, however, men might need spousal support just as much as any woman. The following are three potential reasons men going through a divorce should consider requesting alimony from their spouse.

Creating a workable parenting schedule after divorce

There are a number of ways that separated parents in New York can approach creating a parenting schedule that will work for everyone involved. Parents should start by thinking about how the situation looks for their children and what they stand to gain or lose.

The parenting schedule is not an opportunity for one parent to "win" while the other loses, nor should it be used as a weapon to get back at an ex. Parents should focus on the best interests of the children when creating the schedule. This could mean thinking about how to maintain some consistency, such as keeping the same babysitter the children are used to.

Filing quickly can help alleviate bankruptcy pain

Filing for bankruptcy can offer the potential for a new financial future for people in New York struggling with the weight of insurmountable debt. Despite the potential benefits of bankruptcy, however, many individuals hesitate before filing. In some cases, people regard bankruptcy filings as a type of failure on a personal and financial level and thus may be hesitant to take that step. However, the consequences of waiting can cause someone to be in a far deeper financial hole from which to emerge.

According to one 2018 study, those who wait the longest to file for bankruptcy often struggle the most during the process. It can be more difficult for people who wait longer to file to recover from their financial situations, especially given the additional deterioration that can occur when a filing is postponed for years.

Preparing for post-divorce financial planning

When people in New York decide to divorce, the financial repercussions can be significant. While every divorce is unique and carries its own characteristics, there are a few universal principles that can help future exes avoid costly oversights or errors during the process. The post-divorce period can also bring a number of changes in lifestyle.

For example, the marital home can often be a key financial issue in a divorce. In many cases, one or both of the partners may wish to keep the house for their post-divorce life. In many cases, however, this is unrealistic for either partner. Running two households on the same incomes that previously ran one household is more expensive, and the marital home may not be a financially viable choice for either partner post-divorce. Instead, selling the home may be a more responsible way to handle the housing question.

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