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]]>New York courts recognize that both parents must support their children until emancipation. Therefore, court-ordered financial maintenance or support is an obligation where the non-custodial parent provides the custodial parent with financial support. Child support is intended to cover more than just the expense of food, shelter, clothes, and medical care. It’s also designed to pay for activities that enrich the child’s life, contributing to their overall well-being.
When New York courts determine a fair annual child support obligation, they consider several factors. They will turn to the New York State Child Support Standards Act to calculate a base amount. This statutory formula calculates the combined income between you and your spouse. Then, they will proportionally distribute the support between you and your spouse. It’s crucial to understand that the percentages will vary depending on the number of children in your family. Essentially, the greater the number of children, the greater the percentage:
It’s important to note that the court assesses other significant factors to determine fair child support. This includes each parent’s income, education, earning capacity, debts and liabilities, tax implications, age and health, the academic and social life of the child, and any other relevant factors. The court will ensure the ruling is in the child’s best interests.
Moreover, if you have another child following your divorce, you can petition to modify your existing child support order to reflect your substantial change in circumstances. New York courts believe that all children are entitled to financial support from their parents. Therefore, the amount the non-custodial parent is obligated to pay may be reduced to account for the new child.
If you’re a parent considering divorce, please don’t hesitate to contact a proficient Nassau County child support lawyer from the Law Offices of Eyal Talassazan, P.C., who can help you through the complex legal process ahead.
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]]>The post How Can a Financial Windfall Influence Alimony Payments? appeared first on Talassazan.
]]>When an individual comes into a large, unexpected sum of money, it’s considered a financial windfall. Although no universally accepted threshold defines a windfall, they can range in size from hundreds to millions of dollars. For example, an unanticipated $300 could be a windfall for an individual with a low income. Financial windfalls can come from many sources. However, the most common situations include:
The characteristic that sets financial windfall apart is that it’s unplanned, as it’s not expected through regular income. While a windfall may seem like a positive turn of events for your finances, it can also present new challenges regarding money management.
In some divorces, the court may award alimony to provide a dependent spouse with financial support to maintain the lifestyle they were accustomed to during the marriage. Alimony is awarded to minimize the unfair financial discrepancy between divorcing parties. Alimony is a predetermined sum that is paid from one spouse to another. When the court orders alimony, it’s a flat amount, not based solely on any percentage of your current income.
It’s crucial to understand that alimony can be adjusted under certain circumstances. When there’s a significant change in either party’s circumstances, it may warrant a modification to an existing alimony order. If you’ve suddenly come into money, your alimony obligation will not automatically change. Your former spouse can petition the court to modify their payments to reflect a substantial change in financial circumstances. However, they cannot petition the court based on you receiving a windfall. They are burdened with proving that their circumstances have also changed, which warrants increased alimony payments. The court has discretion when determining whether to modify an existing alimony order. Therefore, they will evaluate the unique circumstances of your case.
If you’ve received an unexpected financial windfall, please don’t hesitate to contact a trusted lawyer from The Law Offices of Eyal Talassaszan, P.C., who can help protect your rights and interests.
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]]>The post Are Gifts Subject to Division in a New York Divorce? appeared first on Talassazan.
]]>New York is an equitable distribution state. Under this system, the court must divide a couple’s marital property as fairly as possible. This is because marriages are recognized not only as a social partnership but also as an economic one. Martial property is any assets obtained during the marriage, regardless of which spouse acquired it. Separate property, on the other hand, represents any assets that were accumulated before the marriage. It’s crucial to note that marital property will be divided during the divorce process by equitable distribution laws. Separate property is protected from division and wholly awarded to the spouse who owns it. Generally, the court will consider the following factors to determine an equitable split of a couple’s marital assets:
Assets received as gifts often count as separate property, regardless of when the assets were acquired. However, if these assets are mixed with marital assets or used for the benefit of the marriage, they are no longer considered separate as they fall under commingled assets. Nevertheless, if a gift is addressed to one spouse, it will not be considered marital property. For instance, if you receive a gift for your birthday, that would be regarded as separate property. If you receive a gift addressed to you and your former spouse, such as a new kitchen appliance, it would be considered marital property. It’s crucial to note that if a gift was given to you by your spouse or vice versa during the marriage, it is considered marital property and will be subject to equitable distribution. This doesn’t mean that you will have to return the gifts you’ve received from your former spouse, but it may mean that you need to determine the value of those gifts to be factored into the value of the overall marital property.
If your assets are at stake, please don’t hesitate to contact a determined lawyer from the Law Offices of Eyal Talassazan, P.C. Our legal team is prepared to help you protect your financial security.
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]]>The post How is a Mortgage Handled in a New York Divorce? appeared first on Talassazan.
]]>Understandably, in today’s society, it can be challenging to afford the full cost of a home out of pocket. As such, many potential homeowners decide to take out a mortgage. A mortgage is a type of loan that is used to purchase property. This agreement between you and a lender allows you to borrow money to buy or refinance a home. The lender then possesses the right to take your property if you fail to repay the borrowed money plus interest. Therefore, the property serves as collateral to secure the loan.
If you took out a mortgage to purchase your home, you must determine how this financial obligation will be split between you and your former spouse. In New York, assets and debts are divided according to equitable distribution laws. This means your shared marital property will be divided equitably, not necessarily in an even 50/50 split. That said, taking out a mortgage during the marriage will be considered a marital debt. As such, you may both remain responsible for paying off the debt. Nevertheless, if the mortgage was taken out before the marriage, but both spouse’s names are on the title, it will be deemed marital property and subject to equitable distribution.
A couple may consider a few options when deciding what will happen to their home and mortgage following their divorce. One of the most common options is to sell the house, use the proceeds to pay off their mortgage, and then split the remaining proceeds generated by the sale. If you’re not on good terms with your former spouse, this may be the best option to sever all ties.
Another option is refinancing the home to one spouse. One spouse may agree to sign away their interest in the house, and the other must then obtain a new mortgage in their name, based on their income and credit score. It’s crucial to note that you must update the house title to reflect one owner instead of two. It’s also possible to use alimony or spousal support as income to qualify to refinance their mortgage.
If you’re a homeowner going through a divorce and are concerned about your mortgage obligation, please don’t hesitate to contact a dedicated property distribution lawyer from the Law Offices of Eyal Talassazan, P.C. Our legal team is prepared to help you fight for the best outcome possible on your behalf.
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]]>The post Can You Establish Alimony in a Prenuptial Agreement? appeared first on Talassazan.
]]>A prenuptial agreement, colloquially known as a prenup, is a legal contract that a couple signs before they enter into a marriage. The agreement outlines how the couple’s assets will be divided in the event of a divorce. A prenup can mitigate the risks of disputes arising during future divorce proceedings.
Many people wrongly assume that prenups are only necessary for high-net-worth individuals. However, a prenup can benefit any couple, regardless of wealth. Although it may be challenging to think about while planning a wedding, prenups can provide comfort in knowing your hard-earned assets will be shielded in the event of a divorce. Therefore, before writing it off entirely due to the negative stigma surrounding such an agreement, you should consult an adept Nassau County prenutpial agreement lawyer.
As mentioned above, a prenup can outline a broad scope of issues. A common question when couples contemplate establishing a prenup is how to address alimony. Fortunately, there are several ways to address alimony in a prenup. However, the best way will depend on your particular situation.
It’s crucial to note that every state has a formula for determining how much alimony should be awarded and for how long. Nevertheless, this financial support minimizes the economic discrepancy between divorcing parties. One of the primary ways you can address alimony in a prenup is by waiving it altogether. This means neither party would retain the right to request it from the other during divorce proceedings.
Furthermore, some couples waive alimony in exchange for a more favorable division of marital assets. If you’re set on waiving alimony, you can include a clause for equalization payment as a lump sum equal to the loss of alimony. For instance, you could waive alimony in the prenup and receive one payment that provides financial support following a divorce. However, the higher-earning spouse can avoid a prolonged financial obligation involving making monthly installments.
As you can see, you can address alimony in different ways in a prenup. If you’re considering establishing a prenup before getting hitched, it’s in your best interest to enlist the help of a skilled lawyer from the Law Offices of Eyal Talassazan, P.C. Our legal team is prepared to help you determine if a prenup is right for you.
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]]>Generally speaking, when alimony is awarded, it’s paid out through monthly installments over a predetermined period. However, an alternative option to monthly alimony payments is lump sum alimony. With this, a lump sum payout is a one-time payment that is equivalent to what would otherwise be the future monthly payments. Essentially, lump sum alimony allows an individual to fulfill their entire alimony obligation with one single payment.
Whether lump sum or monthly alimony is right depends on several factors. There are various benefits to a lump sum alimony payout. The following include, but are not limited to, the advantages of receiving a one-time alimony payment:
As you can see, there are numerous advantages to lump sum alimony. If you need help deciding which alimony route best suits you, please don’t hesitate to contact a Nassau County alimony lawyer from The Law Offices of Eyal Talassazan, P.C.
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]]>When divorcing, it’s crucial to understand that alimony isn’t automatically awarded. If you and your ex-spouse are employed and have comparable incomes, the court will unlikely see the need for this type of financial support. Alimony, or spousal support or maintenance, is typically reserved for divorces where one spouse has a significantly higher income or earning potential. The court only awards alimony when there’s an unfair financial discrepancy between parties.
It’s crucial to understand that it must be paid once the court orders alimony. If an alimony obligation is not fulfilled, you have options. You can file a petition with the court to enforce the order. The court can take various measures to ensure you receive the financial support you’re entitled to. One of the most common ways courts enforce alimony orders is through wage garnishment. Essentially, the court will order your ex-spouse’s employer to deduct a portion of their paycheck to cover what they owe you in unpaid alimony. Alongside income withholding, the court can also issue a Writ of Execution. This order allows the property of your ex-spouse to be seized and sold. The proceeds are then used to pay the past-due alimony.
Furthermore, the court can hold your ex-spouse in contempt of court for failing to provide alimony. If the judge chooses this punishment for not paying alimony, your ex-spouse could face fines, pay your legal fees, face jail time, and face other sanctions. Sometimes, the court may even find it appropriate to intercept your ex-spouse’s federal and state tax refunds or suspend their driver’s license until they’ve fulfilled their alimony obligations.
As you can see, your ex-spouse can face several consequences for failing to pay alimony. If you find yourself in this situation, please don’t hesitate to contact an experienced Nassau County alimony lawyer from the Law Offices of Eyal Talassazan, P.C., who can help you safeguard your rights and interests.
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]]>The post What Are the Common Challenges Faced in Joint Custody Arrangements? appeared first on Talassazan.
]]>One of the biggest challenges of co-parenting in a joint custody arrangement is maintaining consistency between the two households. The overall parenting choices must align to provide the children with stability. Differing parenting styles can be confusing for children. Co-parents should do their best to agree on critical matters such as discipline and the rules that must be followed at each home. Another significant challenge co-parents face in joint custody arrangements: a lack of communication. It’s imperative to prioritize open communication as it helps with conflict resolution.
Overcoming the unique challenges of co-parenting will take some time, as you must learn to adapt to new challenges as they arise. However, you can combat these obstacles by staying consistent and using open communication. Unnecessary conflict should be avoided. This can be achieved by putting aside any lingering feelings of hurt. Emotions can cloud your judgment, so it’s essential to use a logical approach to minimize conflict when making joint decisions concerning the care of your children.
Moreover, an essential aspect of co-parenting that many neglects is practicing active listening. Active listening will facilitate communication as each party will better understand the other parent’s concerns. When parents don’t effectively communicate, disputes quickly arise because each party feels their opinions are being heard. Listen to your child’s other parent respectfully and avoid responding with criticism. Set the right tone when discussing parenting decisions and refrain from making statements or demands. Instead, phrasing things into questions or requests would be best.
For more information about joint custody, please don’t hesitate to contact a compassionate Nassau County child custody lawyer from The Law Offices of Eyal Talassazan, P.C., who can help you protect your family.
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]]>The post What Happens if a Parent Fails to Pay Child Support in New York? appeared first on Talassazan.
]]>Whether you have recently lost your job or suffered a health condition resulting in costly medical bills, these financial hardships can make it challenging to fulfill your child support obligation. However, even if you have valid reasons for not being able to make your child support payments, you’re still required by law to pay it to provide financial support to the custodial parent to cover your child’s necessities. Nevertheless, if you prove a substantial change in your circumstances, it may warrant modifying your existing support order.
To ensure the best interests of a child, the Child Support Enforcement Act of 1984 was enacted as a federal law, authorizing the court to collect arrearages and to impose penalties on the non-custodial parent for failing to uphold their support obligation. That said, if a non-custodial parent fails to pay child support in New York, you will face the following penalties:
It’s a common misconception that if you fail to pay child support, you will lose custody or visitation rights. However, that’s not the case. Custody and visitation rights are completely different from child support. Therefore, a custodial parent cannot withhold their child from spending time with the non-custodial parent on the grounds of failure to pay child support. Ultimately, child support does not influence custody.
If you can no longer afford to make your child support payments, please don’t hesitate to contact a trusted Nassau County child support lawyer from the Law Offices of Eyal Talassazan, P.C., who can help you understand your legal options. Allow our firm to represent your interests today to maximize your chances of achieving a favorable outcome.
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]]>Put simply, a custodial parent cannot deny visitation rights to the non-custodial parent without a court order or custody agreement. Even if the custodial parent believes they have valid reasoning for refusing visitation to the non-custodial parent, they must comply with the court order or agreement. Without a modification in the court-approved agreement, any denial of visitation by the custodial parent is illegal.
If a custodial parent believes a non-custodial parent should not have visitation rights, they must petition the court to request a modification to the existing custody arrangement. However, you must demonstrate that a substantial change in circumstances warrants a modification. If you suspect abuse or neglect, you can file an emergency petition to modify the custody arrangement to safeguard the physical, mental, and emotional well-being of your child. You must provide the court with solid evidence of the non-custodial parent’s wrongdoing.
As mentioned above, disobeying a court order is illegal. Withholding visitation from a non-custodial parent will result in significant consequences. If there’s no legitimate reason, meaning there’s no actual concern for the safety or health of the child, a parent should not deny timesharing. A custodial parent cannot refuse to follow the court-ordered schedule. That said, there are options if the custodial parent consistently violates an existing court order regarding a non-custodial parent’s visitation rights.
Visitation rights mean the non-custodial parent has a legal right to see their child. Therefore, it’s in your best interest to enlist the help of an experienced attorney who can help you file a petition with the court to enforce your visitation rights. The court will likely contact the custodial parent, urge them to comply with the visitation order, and schedule make-up visits. If the custodial parent fails to do so, they will face serious consequences:
As you can see, there are severe repercussions for failing to adhere to a visitation order. Although you may feel tempted to strike back at the custodial parent for preventing you from spending time with your child, you should never withhold child support. If you withhold child support, you will also be violating a court order and could be held in contempt of court.
For more information regarding visitation rights, please don’t hesitate to contact a trusted lawyer from the Law Offices of Eyal Talassazan, P.C. Our legal team is prepared to help you protect your parenting time.
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