Divorce and Carrying Costs

On May 4, 2012, in Divorce, Family Law, by John A. Weber IV, ESQ.

What are “Carrying Costs” in Divorce Cases?

In the context of divorce, the term “carrying cost” refers to the expense of maintaining marital property, such as real estate, until the property is disposed of according to the terms of a divorce agreement or court order. Real estate carrying costs may include property taxes, insurance, or utilities, among other things. Typically, if marital property is to be sold, with the proceeds of the sale to be distributed equally between between the spouses, the property’s carrying costs – the costs of maintaining the property until the sale – is also allocated equally between the spouses. New York courts have declined to order a spouse to pay one-half of all carrying costs on marital property where that spouse was financially unable to make the payments. However, where one spouse has paid the other spouse’s carrying costs, a court may credit those payments to the paying spouse’s maintenance obligations. Courts have the power to allocate carrying costs differently as circumstances require.

If you have any questions about maintenance payments, carrying costs, divorce, or other matrimonial or family law issues, The Law Firm of Vaughn and Weber is here to help. Call (516) 858-2620 to speak with a Family Lawyer and Divorce Attorney today!

*Contributions to the research and preparation of this blog were made by Jason Mays, J.D. (awaiting admission in NYS).

Noncompliance with Financial Disclosure

Amidst all of the emotions that a divorce case brings to the forefront, there are certain details that need to be respected.  One of these details is often met with hesitation.  That would be compulsory financial disclosure required by New York Domestic Relations Law.  Clients seem to be very curious as to how far they can push this requirement without complying.  It need only be said that failure to comply with required financial disclosure can result in penalties under CPLR §3126.  Such penalties can result in having equitable distribution issues resolved in favor of the other party; the Court prohibiting you from being allowed to introduce certain relevant financial evidence necessary to support your case; or even dismissal.  Although it can be tedious to complete the disclosure paperwork, it is still better than losing your share of the marital assets for failing to comply.  If you have any questions regarding this matter or need assistance with a divorce in general, please call 516-858-2620 to speak to a Divorce Attorney today!

 

Is New York’s No-Fault Divorce Automatic?

On March 15, 2012, in Divorce, Family Law, by John A. Weber IV, ESQ.

New York’s No-Fault Divorce

Recently, we have received some questions regarding whether or not a Defendant can challenge a New York’s No-Fault Divorce.  Being that the statute is so new, there still remains some uncertainty and inconsistency throughout the trial courts.  The truth is that nobody really knows at this point.  The statute calls for an “irretrievable breakdown of the marital relationship in excess of 6 months.”  The language itself does give rise to certain questions such as how a Plaintiff can prove such a breakdown?; or how can a breakdown be irretrievable when at least the Defendant is willing to reconcile.  These are issues that will need to be worked out in the higher courts.  If you have questions regarding the new No-Fault Divorce statute in New York, call (516) 858-2620 to speak to a Matrimonial Attorney.

Divorce Attorney in Mineola

Please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak to an attorney today.

 

No-Fault Divorce and Maintenance

Our office has received numerous calls regarding the relationship between New York’s new No-Fault Divorce Maintenance.  The March 12, 2012, Sunday edition of Newsday had an article written by Carol Polsky, which covered this very topic.  Several prominent lawyers weighed in on the affects that this new statute has had in legal practice.  It seems that everybody agrees that the No-Fault ground for divorce seems to make life easier in cases where the estranged couple has very little in the way of assets and does not have children.  The statute seems to divide attorneys on the issue of maintenance however; especially temporary maintenance.  The new formula has resulted in trial court decisions that are all over the map.  Consistency does not appear to be coming any time soon either.  With an escalating number of challenges to this statute coming before the Appellate Courts as we speak, there is much anticipation as to the direction New York will head with regards to shifting the so called “earnered spouse.”

If you are facing a divorce and have questions regarding maintenance or any other issue, feel free to call us at (516) 858-2620 to speak to a divorce attorney!

 

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