Frequently Asked Questions About Divorce And Property Division
Based in Staten Island, Kurt T. Richards, P.C., is available to give you the answers you need. I will be straightforward when it comes to giving you a clear sense of what to expect in a divorce.
Q: How should I begin the divorce process?
A: Divorce is a longer process than most people may realize; it starts long before you go to court or negotiations. You will need time to position yourself for success. In addition to finding the right lawyer for your case, you can use this time to prepare and be strategic about your finances. When you are ready, your divorce attorney can help you with the next steps.
Q: How can business owners protect their company from their spouse?
A: Often, a divorcing business owner will be concerned that their former spouse can either stake a claim to a significant portion of the business or sabotage it. There are several different methods to prevent these problems.
To protect the value of your company, you can negotiate a settlement that allows you to keep all business interests in exchange for a smaller portion of personal assets. If you and your spouse co-own a business together, you have a few options to sell or divide it. However, you should carefully consider the choices with your attorney.
Ideally, business owners and self-employed entrepreneurs should plan early to get the highest chances of keeping their professional assets safe. For example, you can create a prenuptial or postnuptial agreement that prevents a spouse from claiming any ownership of your company.
Q: Will my spouse’s infidelity help me get a better divorce outcome?
A: Cheating is an emotionally painful problem in marriage. In many cases, a spouse who discovered that their partner had an affair might feel that a higher divorce award is only fair after the suffering they have endured.
In New York, courts divide marital property and award spousal support according to income, need and other financial matters. Infidelity is generally not a deciding factor. If your spouse drained marital funds to support an affair, however, the court may consider your financial losses.
Before a marital conflict arises, you can include divorce penalties for infidelity in a prenuptial agreement. If you did not make an agreement, your lawyer can still highlight any financial harm related to the affair.
Q: I am a stay-at-home parent. Can I afford a divorce?
A: Although stay-at-home parents might not earn a traditional income, there are ways to make divorce more affordable. First, you can minimize the costs by choosing a collaborative divorce process. Your lawyer can also help you apply for temporary spousal support to maintain a steady income until you finalize the divorce, including any permanent support orders.