Manhattan Mediation Attorney

How to Protect Your Assets During a Divorce in NYC

How to Protect Your Assets During a Divorce in NYC

Divorce in New York can be stressful enough but when you couple that with splitting up assets it can be a lot to tackle. Not only do you have to be concerned about splitting up assets, but you also have to be concerned with how to protect your assets in a divorce. A New York divorce mediator shares how to protect your assets during a divorce in New York City.

Understand the Difference Between marital Property and Separate Property

Marital property pertains to any assets or debts that were acquired during the marriage. Marital property is able to be divided up in a divorce.

Separate property pertains to property that was owned prior to the marriage. It can also pertain to property that may have been received as a gift or inheritance. Separate property for the most part is not usually divided in a divorce.

One of the Best Ways to Protect Your Assets During a Divorce is Through a Prenup or a Postnuptial Agreement

A prenuptial or postnuptial agreement outlines how the assets and debts will be handled in the event of a divorce.

Consider Having Separate Accounts for Any Premarital Assets or Any Inheritance Funds

This is important to keep them from being commingled with marital assets so that it is easier to distinguish the origin of these assets.

Keep Track of Accurate Reporting and Records of any Assets that Were Required

Keep records of what the dates were and where the funds came to pay for these assets. Furthermore, make sure that you or keeping any inheritance documentation handy when needed.

If you're not sure about the value of particular assets such as paintings or real estate or even a family business; go to an appraiser to get an appraisal for your assets. Getting an appraisal will help your assets from being undervalued during the divorce process.

Keep an eye on any joint bank accounts that you have to make sure that there are not any unauthorized transactions or withdrawals. You should also keep an eye on your credit card accounts to make sure that there are not any unauthorized or large purchases that you're not aware of.

What to Do If You Suspect Your Spouse May Be Hiding Assets in New York?

Do your homework if you are suspicious that your spouse may be hiding assets. You might consider utilizing these systems of a forensic accountant who may be able to uncover any discrepancies.

Have Questions About Protecting Your Assets During a Divorce?

Call Sabra Law Group to speak to a knowledgeable New York divorce lawyer who can guide you on how to prepare for divorce and protect your assets in New York City. Call Sabra Law Group at (646) 472-7971.

A Manhattan Divorce Mediation Lawyer Talks About Mediating or Litigating Your Divorce in NY

One of the most common questions I get asked by potential clients is if they should mediate or litigate their divorce. Both options provide a different path to divorce and what is right for one person may not be right for the next person. The point is to have a thorough understanding of what your divorce goals are and which option will drive those goals. As a Manhattan divorce mediation lawyer with years of experience assisting couples divorce, I am equipped to guide my clients on the best option for them.

What is Divorce Mediation?

Divorce Mediation is a divorce process that allows divorcing couples to resolve issues related to child custody and support, and other divorce matters with the assistance of a neutral third-party mediator. Some of the advantages of divorce mediation are that it is usually quicker than litigation, more cost-effective, more collaborative, and less stressful.

What is Divorce Litigation?

Divorce litigation involves the court process, and a judge has the control to make decisions impacting your divorce. This process can be more adversarial, stressful, and costlier than mediation, and sometimes it can also turn into a lengthy divorce.

If your goal is to have a quick divorce and low-stress divorce, then it would be best to avoid litigation. However, at times litigation is necessary when you have an uncooperative spouse who refuses to come to an agreement on divorce matters.

A Couple of Factors to Consider Before Deciding if Mediation or Litigation is Right for You

Do you have a good relationship with your spouse? If you do, then you may be able to mediate your divorce. On the other hand, if it is challenging to communicate with your spouse, then litigation may be more ideal.

What is involved in your divorce? Consider factors such as children, multiple assets, splitting up a family business, and other complicated matters. If you have many things that need to be sorted out during your divorce, litigation may be required to handle complex matters, however, in some instances collaborative divorce is an available option.

Do you want a quick divorce? If one of your primary goals is to get out of the marriage as soon as possible so you can move on with your life, then you may want to consider mediation.

Are your finances tight? A lengthy divorce in court can drag on for months or years and the longer it takes, the more expensive it will be to divorce. If your finances are tight and you want a more cost-effective option for divorce, then divorce mediation may be worth exploring.

Are you and your spouse willing to compromise? If the answer is no, then you may consider litigation, although you can attempt to seek the assistance of a Manhattan mediation attorney first to see if they can intervene and assist with coming to agreements on difficult aspects. If a New York mediation lawyer can help with compromising, you may be able to forego litigation.

Still Confused About Which Option is Right for You?

Consult with Sabra Law Group today to speak to a Manhattan divorce mediation lawyer and understand the impact of each option and get your questions answered about the divorce process in New York. Call Sabra Law Group today at (646) 472-7971.

Learn Why Divorce Mediation May Be the Better Option Than a Litigated Divorce in Manhattan

Is going to court the best way to get divorced? Although dramatic courtroom proceedings frequently are depicted in films, this rarely is the best choice for couples who have decided to go their separate ways.

A litigated divorce tends to be more contentious, and it certainly is more public. Typically, the divorcing couple that chooses to litigate spends more time, money, and stress throughout a painful, prolonged process.

The great news is that there is a better option. Divorce mediation is becoming the default choice for an increasing number of Manhattan couples.

Are you familiar with mediation? Maybe you think there's no way for you and your partner to agree on anything without a judge handing down a decision. However, you'd probably be surprised. Mediation is a tested and proven method for achieving a more amicable dissolution.

Guidance You Need

Divorce mediation in Manhattan can provide essential guidance when you and your spouse can't agree. It's an effective option when complex issues arise because a knowledgeable mediator can offer valuable, innovative solutions that may have worked for other families. It's also possible to tailor solutions to meet your family's unique needs.

Giving Couples More Control

In Manhattan divorce mediation, the major decisions remain in the couple's hands. In a litigated divorce, an overloaded judge will have just a few minutes to make some critical decisions for you. You and your spouse know your situation better than anyone, and mediation gives you an opportunity to compromise on solutions that are healthier for the whole family.

A Faster Process

A litigated divorce requires more time than divorce mediation. There's little to gain by dragging out the process. Choosing mediation gives you a swifter resolution that's probably a lot more workable and realistic for your family.

Save Money

Divorce can be costly, especially if the couple decides to litigate. With multiple filings by each attorney and hours of arguing and reams of correspondence, the bills mount with lightning speed. Divorce mediation saves you money by letting the couples deal with each other via a mediator, which minimizes the need for multiple attorneys.

Contact Sabra Law Group

Do you want to learn more about Manhattan divorce mediation? Contact Sabra Law Group at (646) 472-7971 to learn more about this less confrontational and more cost-effective option.

Documentation Your Manhattan Divorce Attorney Will Need for Your Meeting

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.

A New York Ruling Could Keep Wealthy Couples from Shopping for Divorce Court Judges

A recent ruling from an appellate court may put an end to the long-standing habit of "forum shopping" in divorce matters.

It's become common practice in New York for wealthy people seeking divorce to file the paperwork in a smaller, more rural county. The purported advantage for the spouse is that their case will be heard by a more conservative judge who is more likely to take the side of the wealthier partner.

Moreover, bringing a big-money divorce case to a smaller county court can make things more complicated for the less-wealthy spouse. While the well-to-do spouse can take a private helicopter or airplane to the divorce court, their ex-partner may have to scramble for a ride-share service to make an appearance.

The ploy is meant to disorient the poorer partner, leaving them less able to protect their legal rights.

How Can You File for Divorce in Another County?

It is not uncommon for wealthy couples to own more than one home. Usually, one of these homes is considered a permanent address, like an apartment in Central Park. They also may own a vacation home in another area, with Suffolk County being a popular choice.

Knowing that a Suffolk County divorce court has fewer resources and less experience with high net-worth wealthy couples, the richer spouse hopes to overawe the court system and their soon-to-be former spouse.

Thus, they claim that their Suffolk County vacation home is actually their permanent address. This means that filing for divorce in that county would be appropriate.

Unfortunately, sometimes the wealthy spouse who files for divorce in another county is fudging their residency.

The Appellate Ruling

Attorney Peter Bronstein won a case in which a real estate developer filed for divorce in Suffolk County even though he and his wife largely lived at their Manhattan apartment rather than their vacation home in Suffolk County. Bronstein represented the wife in the divorce case, and he successfully appealed to have the divorce case brought to its rightful divorce court in Manhattan.

Bronstein says that the decision removes unfair leverage from the wealthier spouse. Many other family law attorneys in New York hailed the decision as a win for ensuring that divorce cases are heard in their proper venues.

Nevertheless, whether your case can properly be filed in a county of your choosing or not is dependent on many factors and it is important to consult with an attorney who can advise you in your specific situation.

If you are considering a divorce, contact the Sabra Law Group at (646) 472-7971 to learn about what’s your next step toward dissolving your marriage.

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