Showing posts with label asset protection. Show all posts
Showing posts with label asset protection. Show all posts

Wednesday, July 22, 2015

Should I Get an Annulment? Or a Divorce?

In certain situations, it makes more sense to seek an annulment versus a divorce.

An annulment action in New York State is lawsuit filed in court seeking to dissolve a marriage on the ground that the marriage is voidable by court order based on certain grounds.

What is the effect of an annulment?

The main effect is that the parties may consider themselves to have not been married. In other words, they can truthfully say, "I was never married". There can still be custody and child support orders if there are minor children born during the marriage. There will not be an order of support. In addition, the Court can makes orders to distribute property.

What is the difference between annulment and divorce?

  • An order of annulment means that one party has established that the marriage is not legally valid. A divorce, on the other hand, ends a legally valid marriage.
  • As mentioned above, the Court cannot order spousal support if the marriage is annulled. No marriage equals no spousal support.
  • The grounds for annulments are more difficult to establish than grounds for divorce. The process can be costlier and lengthier, but often it is worth it.

What are the grounds for annulment?

There are five grounds upon which a party to a marriage may seek to have the marriage annulled:
  • Under age of consent—If either or both parties to a marriage are under 18, that party, one of his or her parents or guardian (or any other person the court allows) may seek to have the marriage annulled. The right to seek annulment on this ground ceases once the spouse at issue has turned 18. Annulment on this ground is granted at the discretion of the court considering all the circumstances of the marriage.
  • Mental incapacity—If a party to a marriage is mentally ill or otherwise mentally incapacitated and was unable to give informed consent to the marriage, any relative with an interest in seeing the marriage annulled may do so while either spouse is alive.
  • Marriage Not Consummated—An action for annulment may be brought by either party before five years have elapsed from the date of marriage if one party has a continuing physical incapacity that causes that person to be unable to have sexual intercourse. The action may be brought by the non-impaired person, or even the impaired person, so long as that person did not know of his or her incapacity at the time of the marriage.
  • Force, duress, or fraud—An action for annulment may be brought by a party to a marriage who alleges that his or her consent to the marriage was obtained by force, duress, or fraud. Examples of fraudulent marriages include:
    • Marrying to obtain immigration status (green card);
    • Claiming to be pregnant to entice someone to marry;
    • Claiming you want to have children when you really don't.
  • Incurable mental illness for a period of five years or more—An action for annulment may be brought by either party to a marriage or anyone acting on his or her behalf where one party to the marriage has become incurably mentally ill, and the illness has persisted for five years or more.
My office offers a free consultation on these issues, and any other family law issue. Call (516) 773 8300, or Email: Jackie@lawjaw.com.

How Long Does it Take to Get Divorced?!?

This question is asked at virtually every consultation with a new client.  For some reason, people seem to underestimate how long the divorce process will take.

Clients are always surprised to hear that even the simplest, easiest, friendliest, "no fault" "out-of-court" divorce can take several months.

This is due to the fact that even after you reach a settlement, it takes the court system a long time to process the paperwork and finalize the decree.  Depending on the venue of the filing, the processing time can take between 3 months and 8 months.

A divorce is a marathon, not a sprint.

If you and your spouse do not see eye-to-eye on the issues of child custody and support, your divorce will take closer to one year to get resolved. (This is due to the lengthier negotiations that these issues often entail.)

If your case involves the issue of spousal support, or the valuation of a business, your divorce will take, on average, up to two years.  (This is due court proceedings, valuations and experts, which complicate and lengthen the timeline of the case.)

A contested custody case can also take up to two years.

In general, the longer the case takes, the more it will cost.
Keep these time frames into account and pace yourself accordingly.

For a free consultation, contact Jacqueline Harounian at Jackie@lawjaw.com.

Friday, July 23, 2010

5 Top Steps to Take Prior to Commencing a Divorce


Written by: Jacqueline Harounian


A comprehensive checklist of steps to take to protect yourself financially before you hire a lawyer. If you gather together the required documents, and start creating an inventory of your assets, you will save a lot of time and money.

1 Protect your inheritance

While your client is deciding whether to file for a separation or divorce, they should take the following steps to protect their rights emotionally, financially, and legally. Clients should realize that their main objective is to preserve and protect marital assets, not dissipate them or grab them first. • If you received any monetary inheritance or gift (other than from your spouse) do not commingle it with marital monies. Keep it segregated and try to keep it intact. You may need it in the event of a separation.

2 Make copies of important documents

• Locate and make copies of: o the most recent income tax returns, including all schedules; o stock or bond certificates (regardless whether ownership is individual or joint); o savings account passbooks or statements; o money market fund or brokerage account statements; o checking account statements (and, if possible, the check stub register); o appraisals of real estate or tangible personal property (e.g., those made for insurance purposes); o loan applications and financial statements and wills or trust documents; o If your spouse owns a business, try to make a copy of all cash receipts for past three years.

3 Protect your household valuables and credit accounts

• Inventory contents of any jointly held safe deposit box, and household valuables such as silver, china, antiques, and objects d'art. • Try to establish personal credit relationships (gas credit cards, Dept. stores and National credit card companies such as Visa, MasterCard, etc.)

4 Open a separate bank account and safe deposit box
Open a bank account in your name at a bank where your spouse does not do business. Start depositing as much money as you can. If and when you do separate, you will need available funds. You will need to retain an attorney and may have other expenses which your spouse refuses to pay. He/She may even withhold support, which will place a financial burden on you until a motion can be brought and heard. • Obtain a safe deposit box at the same bank as your (new) personal bank account.

5 Other steps to protect yourself

• Make a list of return addresses of all mail received by your spouse from brokerage houses, banks, insurance companies and credit card issuers. • Have a medical and dental exam. If convenient, undergo any treatments you need or anticipate needing in the near future if they are covered under your spouse's insurance. • Keep a diary of relevant events, and prepare a detailed chronology of your marriage, relationship, purchase of major assets, refinances, birth of children, etc.
Additional Resources

The above Family Matters “Q & A” Newsletter question was answered by Jacqueline Harounian, a law partner at Wisselman, Harounian & Associates, P.C. You can reach Ms. Harounian at jackie@lawjaw.com if you have any questions or would like additional information. You can also schedule an appointment for a free consultation at (516) 773-8300.
Wisselman Harounian & Associates, P.C.