Divorce

Evaluating Assets During a High Net Worth Divorce in Manhattan NY

High Net Worth Divorce in Manhattan NY

 

Any item that has a monetary value whether it is tangible or intangible is considered an asset. A couple who is divorcing has the option to cash in their assets by selling them. They can also withdraw funds from an account or cash out insurance.

 

Some Examples of Assets and a High Net Worth Divorce Include:

 

Real Estate: real estate can include properties such as a home, land, or even a commercial investment property.

 

Savings and Checking Accounts: cash that is stored in bank accounts and safe deposit boxes.

 

401K and Retirement Plans: Annuities, stocks, bonds, and life insurance are also examples of assets.

 

Personal Property: personal property refers to everything that is owned by the couple that is not real estate. This may include family heirlooms, furniture, artwork, appliances, jewelry, cars, trucks, boats, and recreational vehicles, and pets too.

 

What is the Valuation and Division of Assets?

 

Divorcing couples should make sure that they have a clear understanding of what belongs to them personally and what is considered community property. Divorcing couples are required to make a list of all their assets and when it is a high net worth divorce, the assets can actually be quite complex. Therefore, it is imperative to be very detailed and not forget to list any of the assets.

 

There may be multiple retirement accounts, real estate properties, savings accounts, and assets that are held in not-so-common places. Which may include NFTs, expensive art, high-fashion collections, yachts, investments, and jewelry.

 

Get Your Assets Documentation in Order and Consult an Expert Who Can Assist with Valuation

 

Gathering all this documentation and information may not be a quick and easy task. Not everyone has all these assets in order; if that's the case it's going to take a little bit of commitment to gather all these documents and put them into an orderly fashion. If you have to go to court the court will require them, and even your divorce mediator will need this information to help you with your divorce case.

 

Every single asset needs to be accurately valued and therefore you may need to hire an expert who can help with the valuation of the assets. A lot of things must be taken into consideration, such as consequences of liquidation, transfer and division of those assets, and also transferring or paying out those assets to the spouse when they do get awarded.

 

Need Assistance with Separating Assets for Your High Net Worth Divorce in Manhattan, NY?

 

Contact Sabra Law Group today for a confidential consultation at (646) 472-7971.  Sabra Law Group is experienced in handling high net worth divorce cases in New York City.

 

 

 

 

 

 

 

 

 

 

 

5 Reasons Couples Get Divorced in Manhattan

5 Reasons Couples Get Divorced in Manhattan

 

There can be many different reasons for married couples getting divorced in Manhattan, however, some reasons are more prevalent than others.

 

5 Reasons Couples File for Divorce in Manhattan, New York

Infidelity

One of the most common factors that breaks up a marriage is infidelity. Extramarital affairs are common when couples are not happy in their marriage. They are looking outside for what they are lacking in their marriage.  For others, there may not be a specific reason for cheating, and it may just be something they are compelled to do.  For many spouses, an affair is a deal breaker and causes major conflict in a marriage; that ultimately leads to divorce.

Growing Apart

Another factor that causes Manhattan couples to file for divorce is growing apart. This can happen if one spouse might be a workaholic and works a lot and is traveling all the time. This can also happen because as people grow older their interests change. When the other spouse does not show interest in what their spouse is interested in, it can cause them to grow apart. Another scenario is if one spouse has worked on improving themselves and the other spouse has stayed stagnant.

Money Problems

Financial problems can be a major cause of divorce because it causes so much strain on a marriage. Furthermore, if one partner is not pulling in their weight financially, it puts extra burden on the spouse who is bringing in the income. Another scenario is if one spouse spends money like crazy and the other one is more frugal. All these factors can lead to financial incompatibility.

Lack of Communication

When married couples are not able to communicate with each other effectively and frequently it can cause strain on a marriage. If a couple is consistently fighting but they're not able to get past their fight and apologize to each other; it leaves a lot of unresolved issues.  The lack of communication can cause resentment for both parties. If married couples cannot learn from the experience and grow together as a couple, it can cause them to drift in separate directions.

Abusive Spouse and/or Domestic Abuse

Domestic abuse is one of the primary reasons couples get divorced across the nation. The abuse can be mental or physical but when it continues to happen on an ongoing basis it can cause the abused spouse to leave the marriage. No one wants to live in a miserable marriage and on top of it be abused by their mate. Some people they stay in a marriage way longer than they should for the sake of the kids. But ultimately, it's essential to put your mental and physical health above all. An abusive spouse can leave an emotional toll that can take years of therapy to get over.  The sooner an abused spouse can get away from their abusive spouse, the less damage there will be in the long run.

Are You Contemplating Divorce in Manhattan, New York?

Contact an experienced divorce mediator and divorce lawyer today to schedule a confidential consultation at (646) 472-7971. 

 

 

 

 

 

 

 

What You Need to Know About Marital Debt and Divorce in New York

In a divorce, just as marital assets are split up so is marital debt.  While both spouses may be awarded a division of the marital assets and be burdened with a division of the marital debt, it is also important to be aware of whose name is on the contract for the debt. What this means to you is that if your name is on a car loan or on the mortgage of a property that you own, you will continue to be held legally responsible for those payments regardless of which spouse was ordered to pay that debt.

 

You Are Not Released from Your Debt Obligations for the Loan

 

It is important to realize even if the court says that your ex must pay for the car loan or for the mortgage; it does not release you from your obligation for that loan. The only thing that creditors care about is making you abide by the agreement that you originally signed with them.

 

Divorcing couples should try to pay off as much debt as possible before filing for a divorce. It is imperative to realize that if your ex was ordered to pay certain debts by the court but fails to do so; the creditor will not come after them if their name is not on the loan, and instead the creditor will come after you if you're the only one who signed the original agreement.

 

How Can You Protect Yourself If Your Ex Decides to Not Pay Their Share of the Debt?

 

So how do you protect yourself if your ex decides not to pay their share of the debts? Even if your ex decides not to pay their share you still have an obligation to pay the debt because you signed for it.  Also, you will have to protect your credit rating because once the credit is ruined it can take some time to build it back up.

 

Consider Adding an Indemnity Clause to Your Divorce Settlement Agreement

 

One way to protect yourself is to have an indemnity clause added to your divorce settlement agreement during the negotiation phase. It is advisable to consult a divorce attorney in New York to determine how the indemnity clause should be phrased.  The wording should be chosen carefully to convey that you can take your ex back to court for any money that you had to pay because of the loan going into default.

 

Add Refinancing Language in Your Final Divorce Decree

 

Another way to protect yourself is to be sure to include language in your final decree of divorce about refinancing the debt so that your name can be removed from the debt obligation. In addition, language in the divorce decree can also address what consequences your ex will face if they do not follow through with refinancing the property. There can also be a time frame specified in the decree that outlines by when refinancing must occur.

 

 

It is also important to be aware that although the judge may sign a final decree of divorce granting all of the agreed-upon terms, it does not guarantee that your ex will abide by it. It is smart to think about how you can protect yourself in these types of situations. One of the ways you can do this is to make sure that you are aware of all and any debt in your ex’s name, your name, or both of your names.

 

Things To Discuss With Your New York Divorce Attorney

 

Discuss the advantages of paying off as much debt as you can before filing for divorce. Talk to your divorce attorney about including an indemnity clause and refinance provisions to your divorce settlement agreement and determine what specific language will be necessary to achieve your ultimate goals.

 

Contact Sabra Law Group today to speak to an experienced divorce lawyer at (646) 472-7971.

 

 

 

 

 

 

 

 

How to Protect Your Children from Parental Conflict During Divorce

 

Divorcing couples may not agree on much but one thing that they can probably agree on is that they both want what is best for their children. Divorce is a very difficult and stressful time and children will feel the toll of divorce as well. The good news is there are some ways that you can protect your children from parental conflict during divorce.

 

If your children are old enough to understand what divorce really means, make sure that you are not getting into details with them about your frustrations with your ex. Even if you have teenage children and they ask you why you are angry with your ex; it is best not to vent to your children.

 

Just as you would not want your spouse to badmouth you to your children; it is best to have the same respect for your spouse as well.  Children are very sensitive to their environment, and it is best to create a safe and healthy environment for them. 

 

It is Best to Avoid Parental Alienation

 

Parental alienation happens when one parent influences a child into disengaging with the other parent, usually by speaking negatively about the other parent. The parent who is speaking negatively about the other parent may also refuse to coordinate time sharing and be uncooperative in the co-parenting process.

 

That is going to be extremely difficult on children because children want to be loved by both parents, they want to be accepted by both parents and they want to be loyal to both parents.

 

Parental alienation can also result in serious psychological and emotional issues that may impact your child custody case.

 

If you're struggling with divorce and need someone to talk to, reach out to a trusted friend or consider seeking the help of a qualified therapist or counselor.

 

Do Not Deny Parenting Time to Your Ex

 

No matter how old your children are children need both of their parents to be involved in their lives.  It would not be fair to keep your children from the other parent.  If you are trying to punish your ex by keeping them from their children, it also punishes your children.  Children do not deserve to be placed in the middle of a parental battle. 

 

Learn How to Effectively Communicate with Your Ex

 

Part of the co-parenting process is to be flexible. The more flexible you are, the easier it will be to get along with your ex and ensure that your children are not impacted negatively by the divorce process. The are parenting courses available online where you can learn ways to effectively co-parent and there are co-parenting apps that both you and your ex can use to communicate about the children and share documents, events, and calendar all in one place.  So look for resources and ways in which co-parenting can be made easier for you.

 

Speak to a Manhattan Divorce Mediator to Help with Parental Conflict

 

You do not have to figure it all out alone.  Reach out to Sabra Law Group today to schedule a confidential consultation at (646) 472-7971. 

 

 

 

 

 

 

 

 

How Divorce Mediation Can Assist You with Expediting Your Divorce in New York City

How long does it take to get divorced? Everyone has heard horror stories from friends and family who spent months, if not years, battling their ex-partners in court.

In fact, such stories are so common that no one could be blamed for thinking that dissolving a marriage must require an extended period of time.

The good news is that this is not the case. Many of the choices that you make can either extend or minimize the time required to divorce. There are many reasons to streamline a divorce. These may include:

-Saving money
-Reducing stress
-Restoring health and hope to the family; and
-Minimizing acrimony.

If you are interested in expediting your divorce, then it is wise to learn more about mediation. This collaborative process is a more efficient alternative to litigation.

Expediting Your Divorce

When couples decide to litigate a divorce, they are at the mercy of the court system. This system is bogged down and overloaded. Accordingly, it is possible that your case will not come before a judge for months.

Consider also that if you and your ex-spouse have not agreed on terms, you may be required to make more than one court appearance. This means that you're not just waiting for one court date, but several. That can add significantly to the amount of time that you spend working toward a resolution.

Lengthy Divorces Are Tough on Everyone

Protracted court proceedings take their toll on everyone involved. This includes not only you and your ex-partner but also any children you may have.

This is especially true when parents go to trial over child custody. Mediation is an alternative that facilitates the creation of a shared parenting plan that can spell out clear terms for custody, visitation, support, education costs and more.

One of the best reasons to get serious about expediting your divorce is to spare your children the stress and heartache of extended court proceedings or even an expensive protracted trial.

Better Communication through Mediation

People frequently cite a lack of communication or miscommunication among their primary reasons for divorce. Mediation facilitates positive, healthy communication that makes it quicker and easier to come to a divorce agreement. Additionally, improved communication serves the family moving forward, especially if the adults will continue to co-parent.

A Common-Sense Approach to Divorce

Contact the Sabra Law Group today at (646) 472-7971 to learn more about expediting your divorce in New York with mediation.

 

 

 

 

 

 

Documentation Your Manhattan Divorce Attorney Will Need for Your Meeting

 

documentation your attorney will need

If you are in the process of filing for divorce it is important to start preparing ahead of time. One of the best ways to prepare to meet with your Manhattan divorce attorney is to make sure that you have all the documentation they will need. The more prepared you are for your meeting with your divorce attorney the smoother things will go and the faster the process will be.

 

Gather These Documents Prior to Your Meeting with Your New York Divorce Lawyer

 

Income Statements and Documents: income statements are essential to determining the financial situation and employment status that will take into consideration child support, alimony, and division of assets. Income documents can include tax returns, paycheck stubs, and additional related documents. Some things to gather include paycheck information over a 12-month period, bank statements, receipts, financial statements, and business income documents. Furthermore, any other documentation that can help establish one's net worth would be useful to gather.

 

Automobile Documents:  automobile documents include any titles or registration for all vehicles that are owned by either you, your spouse, or owned jointly. They can also include boats, ATV's, and farming vehicles and business equipment vehicles. Also show documentation that displays the current outstanding debt that would be needed to acquire these vehicles.

 

Life Insurance Documents: it is also useful to gather any life insurance policy information. This is because the court may view the policy's cash value that could be divided by the court in case of a divorce.

 

Marital Debts: all debt should also be documented. The court will need to determine what the marital debts are and how to divide them as part of the divorce settlement.

 

Real Estate Documents: real estate is going to be one of the major assets that will be taken into consideration. If the property was purchased during the marriage, it is considered marital property will need to be divided during the divorce.  Furthermore, real estate that may have been owned prior to the marriage can also come into the situation if the marital funds were used to pay for repairs and any mortgage payments. Gather all documentation of ownership as well as current mortgage income. Also compile all real estate purchase documents. Also, if your property was refinanced that information will also be pertinent.

 

Take the First Step and Schedule a Consultation with a Manhattan Divorce Attorney

 

If you are getting divorced, the first step is to meet with an experienced New York divorce attorney who can help you with your case.  Whether you decide to mediate your divorce or go to court, Sabra Law Group can assist you.  Call Sabra Law Group at (646) 472-7971. 

 

Once you have secured an appointment start gathering all the documents so that you have them ready for your meeting.   You can also ask us how to best be prepared and we will provide you with a list of items that will be helpful. 

 

 

 

 

 

 

 

How to Deal with Anger and Emotions During Divorce in New York

 

Getting divorced is one of the most stressful life events.  It can trigger deep emotions and bring anger out.  The anger can arise from painful experiences with your soon-to-be-ex or even feeling threatened by your spouse.  Some couples opt for staying in an unhealthy relationship longer than they should.  This is because they would rather be in a bad relationship than no relationship.  As a result, it can delay the process of taking the steps to separate and divorce.  However, there comes a time when one or both spouses have had enough; but by that time, anger is at an all-time high. It is essential to know how to deal with anger and emotions during divorce in New York. 

 

How to Cope with Your Anger and Emotions During Divorce

 

Get it Out of Your System

 

It is important not to keep anger bottled up.  You must find a way to release your anger in a healthy and constructive way.  One way to do this is to work through your anger by journaling or writing a letter that you don’t send or mail.  Writing your feelings down on paper will allow you to release them and feel less weighed down. 

 

Another useful method to get it out of your system is to develop a support system that can help.  Having people in your life whom you can talk it out with will help you feel better; because again you are releasing your emotions instead of keeping them bottled up.

 

Seek Professional Help

 

Sometimes your friends and family may not be able to support you in the way that you need it.  In that situation, it is helpful to seek professional help such as a therapist who helps people with anger management.

 

Take Accountability for Your Part in the Breakup

 

If you also played a part (whether it was minor or major) in the breaking of your marriage, it is important to take accountability for your part.  This will help you to not place the entire blame on your spouse and it may help you to manage your emotions. 

 

Forgiveness is Hard Sometimes But Essential to Moving On

 

Part of the divorce process is to heal after divorce and determine if you are ready to move on and start a new relationship.  If you truly want to move on, it is critical to forgive, otherwise you may stay in the same angry space.

 

Staying Calm is Key

 

When things get heated, it can be difficult to stay calm, but staying calm will help you de-escalate the anger.  Try to take a walk, do some deep breathing, or try yoga or meditation. 

 

Need Assistance with Divorce in New York?

 

Call Sabra Law Group today at (646) 472-7971 and determine if divorce mediation can help you get divorced sooner than dishing it out in court, so you can move on to starting fresh. 

 

 

 

 

 

 

How to Get Full Custody of Your Children in New York

One of the most contentious matters in divorce cases is child custody. The parents want what's best for their children, and that's also the goal of the courts. In fact, judges are guided by the principle of the "best interests of the children”.

In general, it's considered desirable for the children to maintain relationships with both parents. Nonetheless, there may be situations in which it's wise for one parent to be awarded full custody.

If you believe that having full custody of your children in New York is in your family's best interest, then there are things you can do to strengthen your case.

Collect Documentation

Do you believe that your spouse is abusive? If so, then it's sensible to gather as much evidence as possible. This may include medical records, affidavits from healthcare professionals, photographs, and your written observations.

Even if abuse isn't occurring, it's smart to keep a journal of everything that happens with regard to your kids. Record events like pick-ups and drop-offs, phone calls, whether or not child support payments are being received, and your child's routine activities. Courts love to have everything documented, so the more notes you take, the better.

Keep Yourself Clean

Any questionable behavior on your part can make it harder for you to obtain full custody of children in New York. Keep your driving record spotless. A DWI or reckless driving citation will come out in court. If any court orders are in place, make certain that you follow them to the letter, even if you don't agree with them. Make sure that you aren't indulging in recreational drug use or drinking to excess. If you're on social media, suspend your participation, but keep an eye on what your spouse is posting.

Spend Time with and Know Your Children

Make certain that you're familiar with your child's teachers and doctors, and spend quality time with your kid. Keep childcare by others to a minimum as your children need to have your hands-on involvement. While it's important to communicate with your child, refrain from discussing the custody case or trying to obtain information about the other parent from them.

Perhaps the best thing you can do toward obtaining full custody of your children in New York is to hire the Sabra Law Group to represent you. Call (646) 472-7971 today to learn how we can help you with custody in New York.

 

 

 

 

 

                        

4 Dating Tips Following a Divorce

dating after divorce in Manhattan

Yes, you can bounce back into the dating world following a divorce, even a painful, heartbreaking divorce. In fact, you may even be a better partner as a result of it, from lessons learned. Here’s some tips to consider along the way. 

1. Ask yourself what lessons you learned. Analyze what went wrong in the marriage so you don’t repeat those mistakes. Likewise, look into the successes in the marriage and how you can replicate those. 

For instance, look at the love languages that exist: such as quality time, words of affirmation, acts of kindness, gift giving, and of course physical touch. Recall which of those was lacking and how you can do better next time, and what you prioritize in your partner. 

2. Decide when to date and what you’re looking for. How soon after your divorce should you date is another question. Some couples will even date before a divorce is finalized, but while they are living separately during the divorce process.  

You may justifiably need alone time to grieve and self-reflect and rejuvenate. Perhaps you take time to travel with a get-away vacation or stay-cation, or you take up meditation or a new hobby like yoga or pilates to help center yourself.   

You may also not want a serious relationship so soon, but rather a more casual fling type of relationship. But keep yourself open-minded to what’s out there. Ultimately, the goal is to find another partner or just yourself that makes you happy inside and adds to your life. 

3. Take advantage of all the amazing apps available nowadays. For instance, there’s popular ones such as Bumble, Hinge, Tinder, Match—there’s even a Facebook Dating app. There’s even segmented dating apps, for example faith-based ones such as J-Date for people seeking a Jewish partner and Christian Mingle for a Christian partner. 

They are pretty advanced too, and may allow you to filter by geography, age, sex, sexual orientation, race, religion, hobbies and interests, whether you’re interested in someone with or without kids; whether you want a serious or fun/playful relationship, your body type, and more.  

4. Consider getting a dating expert or seeing a relationship therapist for professional support. They have extensive experience counseling many people who can relate to your situation. Look at their reviews and seek referrals as well. You may require a quick tune-up session or multiple or on-going sessions. Do what works for you best, and if need be, test out multiple professionals before you find the best one. 

They can help with your self-esteem and confidence, and communication skills for instance. They can also help you see things from a different perspective. They can serve as a great outlet to share your thoughts and feelings.      

If you have a family law issue, contact the Sabra Law Group in Manhattan at (646) 472-7971. The firm’s expertise is in all forms of family law, such as alimony, divorce, prenuptial agreements, post-nuptial agreements, child custody battles, child support, domestic violence, and restraining orders. 

 

How to Use a Vision Board to Celebrate a Divorce Party

getting divorced

Are you considering hosting a divorce or separation party? It’s becoming more commonplace nowadays. When the divorce judgment is finally official, the divorce party gives you a way to celebrate the end of one chapter and the beginning of another. It gives you an opportunity to let loose, blow off steam, and not just mellow in sorrow. It can be healing and provide closure from a very tough life transition. After all, you’re finally free with more freedom and independence so why not honor the occasion with friends and family.  

In many cases, divorces can unfortunately be contentious and divorce parties are done without the other spouse attending. But if both spouses were civil in the divorce and still friendly or cordial, they may even want to co-host the divorce party. However, you may want to shield your children from the party, given the sensitive nature. 

Still, not everyone will want to host a divorce party. Some may even be offended by the notion, comparing a divorce to a death in the family. But mind them no attention, everyone should do what’s best for them. 

Focus on the future, not the past, with a positive tone. To help, consider creating a vision board of your future-self as a team activity. Gather posters, colorful markers, magazines and glue sticks.  Each attendee will receive one poster to create their own vision board.  Thinking about the things that you want to manifest, begin creating your vision board by drawing images or words and phrases, or cutting them out of magazines and placing them on the poster, thereby creating a collage as a source of inspiration. 

Some ideas include, finding a picture of an outfit, accessory, watch or other jewelry item of things that you want that represent your new image… 

Or you might post a picture of your dream home, or a fancy car, or spell out the words to your ideal job from your bucket list. Likewise, you might post an image of a person doing yoga poses and meditation to symbolize your goal for better mental and physical health. You could post a map and circle various countries you’ve always wanted to visit. And you could illustrate your goal of taking up a new hobby of cooking and playing tennis with pics too. Additionally, you could share an image of your friends, to mark your ambition to dedicate more quality time to spending with them and strengthening your relationships. 

When completed, hang the vision board up in your home in an area you regularly visit. And you may want to take a photo of your vision board and make it your “home” page on your cell phone so that you see it regularly.  Feel free to add to your vision board as well, as you see fit and your life goes through changes. This will help center you and remind you of your long-term goals and ambitions ahead.  What you focus on regularly is more likely to come to fruition.  

If you have a family law issue, contact the Sabra Law Group in Manhattan at (646) 472-7971. The firm’s expertise is in all forms of family law, such as alimony, divorce, prenuptial agreements, post-nuptial agreements, child custody battles, child support, domestic violence, and restraining orders.