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.
Showing posts with label child support. Show all posts
Showing posts with label child support. Show all posts
Wednesday, July 22, 2015
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.
Thursday, July 15, 2010
The Smart Divorce
THE SMART DIVORCE
"It is Possible to Save Money in New York Divorce Court"
New York State may be the most expensive place on the planet to get divorced. This can be attributed to New York being the only remaining state still requiring grounds for divorce, or the fact that New York’s custody laws seem to encourage litigation, or the fact that licenses and degrees are classified as marital assets, which promotes even more litigation.
It is possible, however for many couples to have an affordable, reasonable, even amicable divorce settlement, which I call the "Smart Divorce".
The Smart Divorce should be the goal for every couple facing the end of their marriage in today’s economic climate. In every net worth category and income level, families today are faced with declining home equity, shrinking 401k investments and depleting college savings. They are faced with job losses, loss of overtime income, and looming credit card debts. Just about everyone should be concerned about saving money and assets during a divorce.
There are some conditions necessary in order to have a successful "Smart Divorce":
The most important one is a commitment by both parties to give their full efforts to negotiate out of court settlement with the assistance of their attorneys. Litigation should never be an initial strategy, but a last resort. Grounds for divorce should be agreed to from the outset.
Secondly, parties should devote their efforts to reaching a custody and visitation agreement which provides the least disruption to the children. Joint custody and joint parenting should be explored. With most households having two working parents, shared parenting is often in the best interests of the children, and attorneys can help their clients create a customized schedule to meet the needs of the whole family.
As to financial issues, it is extremely important for parties to be realistic about their expectations, and to follow the advice of their attorneys. This includes being up front about assets and income, and producing necessary documentation in a timely manner. With fewer resources at their disposal and a gloomy economic forecast, "lifestyle" expenses such as vacations, private schools, private tutors and camps must be looked at carefully and with a view to compromise. It is important to realize that many issues related to the children, including support and visitation are not "written in stone", but may in fact be modifiable in Court after the divorce is settled, based upon a change of circumstances. An experienced attorney can guide you on issues which concern you.
Regrettably, in some cases, an amicably settled divorce is simply not possible and litigation cannot be avoided. These include cases where there is abuse, domestic violence, mental illness, drug and alcohol issues, hidden assets or income, paternity issues, a family business, or separate property issues. It is also a challenge to settle a case when one party has completely unrealistic demands, anger, or a vindictive streak that gets in the way of negotiations.
"It is Possible to Save Money in New York Divorce Court"
New York State may be the most expensive place on the planet to get divorced. This can be attributed to New York being the only remaining state still requiring grounds for divorce, or the fact that New York’s custody laws seem to encourage litigation, or the fact that licenses and degrees are classified as marital assets, which promotes even more litigation.
It is possible, however for many couples to have an affordable, reasonable, even amicable divorce settlement, which I call the "Smart Divorce".
The Smart Divorce should be the goal for every couple facing the end of their marriage in today’s economic climate. In every net worth category and income level, families today are faced with declining home equity, shrinking 401k investments and depleting college savings. They are faced with job losses, loss of overtime income, and looming credit card debts. Just about everyone should be concerned about saving money and assets during a divorce.
There are some conditions necessary in order to have a successful "Smart Divorce":
The most important one is a commitment by both parties to give their full efforts to negotiate out of court settlement with the assistance of their attorneys. Litigation should never be an initial strategy, but a last resort. Grounds for divorce should be agreed to from the outset.
Secondly, parties should devote their efforts to reaching a custody and visitation agreement which provides the least disruption to the children. Joint custody and joint parenting should be explored. With most households having two working parents, shared parenting is often in the best interests of the children, and attorneys can help their clients create a customized schedule to meet the needs of the whole family.
As to financial issues, it is extremely important for parties to be realistic about their expectations, and to follow the advice of their attorneys. This includes being up front about assets and income, and producing necessary documentation in a timely manner. With fewer resources at their disposal and a gloomy economic forecast, "lifestyle" expenses such as vacations, private schools, private tutors and camps must be looked at carefully and with a view to compromise. It is important to realize that many issues related to the children, including support and visitation are not "written in stone", but may in fact be modifiable in Court after the divorce is settled, based upon a change of circumstances. An experienced attorney can guide you on issues which concern you.
Regrettably, in some cases, an amicably settled divorce is simply not possible and litigation cannot be avoided. These include cases where there is abuse, domestic violence, mental illness, drug and alcohol issues, hidden assets or income, paternity issues, a family business, or separate property issues. It is also a challenge to settle a case when one party has completely unrealistic demands, anger, or a vindictive streak that gets in the way of negotiations.
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