Broome County Family Law Blog
Is it possible to avoid the financial risks of divorce?
Divorce often brings financial setbacks, but you may lessen the risk with careful advance planning. If you believe your marriage is over, begin preparing a post-divorce budget. It may serve as a realistic guide for negotiating spousal support, maintenance or property...
Do you have a plan for child custody over the holidays yet?
If you have recently separated or have started the process of planning to divorce, you may need to embrace the reality that the upcoming holiday season is probably going to be difficult for everyone in the family. The sooner you address the holidays and the stresses...
Is it time to file for bankruptcy?
Let’s face it: No matter how much money the average person has coming in, it always seems like there’s too little. If you experience a sudden decline in your income due to a job loss, layoff or reduction in hours, the financial situation in your household can get very...
Bankruptcy with kids can be scary, but there is support
Your children are young, and you’ve always wanted to provide everything they wanted. Unfortunately, over time, that desire has meant that you’ve added hundreds of dollars onto credit cards. You’ve had amazing vacations and spent thousands on gifts and toys, but in the...
How are assets divided in a divorce?
Whether you and your spouse have significant wealth, considerable debt or only a few assets, you need to know what happens to property when you divorce. After all, you and your soon-to-be ex-spouse likely have a keen interest in receiving as much of the marital estate...
Divorce has more financial risks when you’re close to retirement
Older adults have been considering divorce at higher rates than in decades past. Couples who have been together for decades may now find that, with their children and retirement looming, they are not happy in their existing relationship. Gray divorces, or divorces...
In debt after divorce? Bankruptcy could help.
When your spouse decided to get a divorce, you were shocked. You’re both in your 60’s, and you have significant debt to your name. You never expected to be dealing with such a large share of debt this late in life, especially since you’d both planned on how to pay it...
How often can you declare bankruptcy?
Let’s say you use Chapter 7 bankruptcy when your debt becomes overwhelming. You need that fresh start. The debt wasn’t your fault -- your company went under and you lost your job -- but you still had to do something about it. You used bankruptcy to eliminate it. ...
How is maintenance determined in New York?
Divorce is one of the most challenging events you can endure, both emotionally and financially. Not only will you and your spouse divide your assets upon splitting up, you will no longer have the security of their earnings. This may not be a big deal if you lived in a...
The gray divorce mindset
Have you heard that divorce among those who are 50 years old and older has been rising? It’s true, and this is a phenomenon that is often referred to as “gray divorce.“ What is the mindset that has led to this rise? One thing that researchers point out is the changing...