It is Possible to Save Money in New York Divorce Court
January 13, 2009
(Great Neck, N.Y.) New York State may be the most expensive place on the planet to get divorced. This can be attributed to New York being the only remaining state still requiring grounds for divorce, or the fact that New York’s custody laws seem to encourage litigation, or the fact that licenses and degrees are classified as marital assets, which promotes even more litigation.
Jacqueline Harounian explains that “It is possible, however for many couples to have an affordable, reasonable, even amicable divorce settlement, which we call the ‘Smart Divorce’.”
The Smart Divorce should be the goal for every couple facing the end of their marriage in today’s economic climate. In every net worth category and income level, families today are faced with declining home equity, shrinking 401k investments and depleting college savings. They are faced with job losses, loss of overtime income, and looming credit card debts. Just about everyone should be concerned about saving money and assets during a divorce.
There are some conditions necessary in order to have a successful “Smart Divorce”:
The most important one is a commitment by both parties to give their full efforts to negotiate out of court settlement with the assistance of their attorneys. Litigation should never be an initial strategy, but a last resort. Grounds for divorce should be agreed to from the outset.
Secondly, parties should devote their efforts to reaching a custody and visitation agreement which provides the least disruption to the children. Joint custody and joint parenting should be explored. With most households having two working parents, shared parenting is often in the best interests of the children, and attorneys can help their clients create a customized schedule to meet the needs of the whole family.
As to financial issues, it is extremely important for parties to be realistic about their expectations, and to follow the advice of their attorneys. This includes being up front about assets and income, and producing necessary documentation in a timely manner. With fewer resources at their disposal and a gloomy economic forecast, lifestyle expenses such as vacations, private schools, tutors and camps must be looked at carefully and with a view to compromise. It is important to realize that many issues related to the children, including support and visitation are not written in stone, but may in fact be modifiable in Court after the divorce is settled, based upon a change of circumstances. An experienced attorney can guide you on issues which concern you.
Regrettably, in some cases, an amicably settled divorce is simply not possible and litigation cannot be avoided. These include cases where there is abuse, domestic violence, mental illness, drug and alcohol issues, hidden assets or income, paternity issues, a family business, or separate property issues. It is also a challenge to settle a case when one party has completely unrealistic demands, anger, or a vindictive streak that gets in the way of negotiations.
We offer a free consultation in our office and we analyze whether a “Smart Divorce” is an appropriate plan of action based on the specific circumstances.
Jacqueline Harounian joined The Law Firm of Jerome Wisselman in 1993. Having made significant contributions to the firm and her clients, and with an excellent reputation among her peers, Ms. Harounian was named Partner in July, 2006. She handles complex family and matrimonial matters, appearing on custody, divorce and support matters in the Family and Supreme Courts in Long Island and New York City. She also handles guardianship and contested Surrogate’s Court matters, residential and commercial real estate, business law and civil litigation.
The law firm of Wisselman, Harounian and Associates was established in 1976 and is dedicated to serving Long Island, Queens and Metro New York clients and the community on legal matters that arise during the course of raising a family and growing a business. It is the firm’s purpose to help protect clients’ legal interests throughout the many phases of their family lives. This can include handling matrimonial or family law concerns, buying or selling a home, running a business, and estate planning.
For more information visit: www.lawjaw.com
###
Posted by News LI Editor · Filed Under Business
Have a press release or local story you would like us to review? Let us know about it!
| You can Bookmark & Share this page by clicking here: |
|
More Long Island News
-
Long Island Exchange is the leading resource on Long Island New York for news and business. Find Long Island news, check local weather, real estate, classifieds, and auto dealer listings for Long Island.
News Comments for this Article
Got something to say? Be sure you've read and understand our (Terms of Service)
You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. More...
