Provided by: Jennifer Kirschenbaum, Esq.
May 13, 2021
Are you seeing an uptick in divorce? Do you have any advice for me?
Thanks, Dr. P
Dr. P, sorry to hear. I've asked Maureen Beil of our family law department to tag in...
Written by Maureen Beil, Esq.:
As we come out of Covid, we're seeing many clients looking to get back to normal and get out, not just to their favorite restaurants, but also out of their marriage. The coronavirus has inspired a surge of divorces for various reasons; increased domestic pressures, upended routines that had masked past marriage problems, changes in income causing divorce to make financial sense. Coronavirus-related delays in the New York divorce courts due to the three-month closure and virtual appearances are a reality. As you consider a post-pandemic divorce, here are a few preparation tips:
- Obtain and Organize Financial Statements. When filing for Divorce, you will be headed into a potential division of assets. Getting your financial house in order helps streamline the process. You will need tax returns, bank statements, insurance policies and statements, investment statements, deeds to any property you and your spouse jointly or separately own, business interests, stockholder agreements, limited partnership agreements, wills, and any other document relevant to your combined net worth.
- Living situation. After the divorce, you and your spouse will (most likely) be living in separate residences. The coronavirus has impacted the housing market. Prices have plummeted in New York City, whereas prices have skyrocketed for vacation homes. Research the market.
- Child Custody. There are two basic types of custody in New York; legal custody and physical custody. A parent with legal custody decides important decisions in the child’s life, such as education, religion and medical. The child resides with the parent with physical custody. Sole custody is when one parent has a total custody and parents share custody in joint custody. Think about what type of custody you want and will work best for your child. Keep a log of your spouse’s time spent with the child and any interactions that bear upon custody decisions and “the best interests of the child”, which is the prevailing legal standard for custody decisions.
- Child Support. Children have an absolute right to financial support from both parents until age 21. You should keep an accurate record of child expenses and factor child support into your post-divorce financial plan.
- You are not alone. Build a support system to help you during the divorce process, which will include your attorney, and family and friends. The potential emotional and potential monetary toll of a divorce should not be underestimated.
To effectuate an organized and streamlined separation, think towards preparation. If you would like to discuss your specific circumstances, I am available to discuss. We do not charge for consultations for any of our healthcare clients. I can be reached at MBeil@Kirschenbaumesq.com or at 516-747-6700 x. 303.
Maureen Beil, Esq. is an experienced Family Law attorney, with an LLM in Family Law.