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

Posts tagged "divorce"

Small business owners face challenges during a divorce

When New York couples decide to divorce, the financial consequences can be significant for anyone. However, when business owners with closely held companies are involved, the changes can be even more consequential, not only for each spouse's personal finances but for the future of the business. A divorce can have an impact on the company as a whole and could even lead to its sale or closure as a result of hard decisions during property division. In many cases, investors are requiring startups to show that all partners have prenuptial or post-nuptial agreements covering property division in case of a divorce.

Three factors that indicate a marriage is headed for divorce

Counseling has helped some New York couples save their marriage. Other couples decide that divorce is their best option. Most who have decided to go the route of divorce will say that it was not an easy decision, especially since there is usually not one single factor that caused the marriage to fail. There are usually red flags that show a marriage is heading toward its end.

The many reasons younger couples are opting for prenups

In the past, prenups were usually associated with very wealthy or famous people. The word itself seemed to be a taboo, but millennial couples seem to be changing that, causing a significant increase in the number of prenups requested. For many New York couples, a prenup might be an option to consider as they plan their wedding and married life.

Gray divorce rates on the rise as seniors live longer

In New York and across the country, life expectancy has reached new heights, but for married couples, this also means a longer life together. For some older couples, this extra time together means experiencing new things and growing closer, but for others, it means growing apart. As a result, so-called 'gray divorces" have become more common among seniors, and the challenges these types of separations pose to high-asset couples can be unique.

How retirement is affected by divorce

According to statistics gathered by the Pew Research Center, the rate of divorce for people age 50 and over has doubled since 1990. While divorce at any age can be very difficult, couples who separate after turning 50 face a more immediate challenge regarding their retirement. For some people in New York, there is little risk, but others may face a more difficult path ahead if they don't meet certain criteria.

Key financial documents to use in a divorce

During the divorce process, an individual will want to have access to as much information as possible. A person could use a New York state tax return to gather data about his or her household's net worth. A federal tax return may also yield clues about how much a household is worth and whether a spouse may be hiding or obscuring assets. In most cases, returns from the past three years will be most relevant in a divorce proceeding.

How divorce can negatively affect credit scores

Divorce can be hard on credit scores for some people living in New York. It is the things that happen as a result of a divorce and not the divorce itself that causes a decrease in credit score. Debts may be split as part of a divorce decree, but if a person's name remains on the debt, this is whom creditors will pursue regardless of what the couple agreed on.

Bezos marriage ends amicably even when dividing large assets

New York residents interested in business and entertainment news may have heard about the divorce of Amazon power couple Jeff and Mackenzie Bezos. The couple reached a settlement agreement that has the potential to be the biggest the world has ever seen.

Grey Divorce is a Growing Trend in America

In New York, a trend called "grey divorce" has been steadily growing. A grey divorce refers to an older couple who files for divorce after many years of marriage. Statistics show that more couples in their 50s are getting divorced. Synonyms for the term "grey divorcees" include "silver splitters" and "diamond splitters." The terms refer to older couples with grey or white hair.

Email Us For A Response

Let's Work Together To 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

Endicott Office
2301 Country Club Road
Endicott, NY 13760

Toll Free: 866-539-2596
Phone: 607-821-0100
Johnson City Law Office Map

Binghamton Office
49 Court St
Binghamton, NY 13901

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

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

Map & Directions