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!
The new “No-Fault” divorce law in New York (NY DRL §170(7)) has drawn quite a reaction. Some positive; as would be expected. Some negative; which goes without saying. For years, there has been controversy over whether New York should follow most states down the path of “Irreconcilable Differences,” as a grounds for divorce. Should New York value marriage more than other states? Should New Yorkers be forced to have a good reason to end their marriages? The flip side of the coin has focused on the reality of the situation. Those in favor of irreconcilable differences have kept the view that New Yorkers will get divorced anyway; even if they have to lie about the reason. Should New Yorkers have to lie about why they are ending their marriages? Well now they won’t have to. At least, according to some. On October 15, 2010, New York became the last state to enact a “No-Fault” divorce statute. In a recent article on August 16, 2010 on Bloomberg.com by Carlyn Kolker and Patricia Hurtado entitled “Divorce Easier as New York Ends Need to Lie,” New York’s divorce record and data are presented. You can see that article at http://www.bloomberg.com/news/2010-08-16/breaking-up-not-so-hard-to-do-as-new-york-s-divorce-law-ends-need-to-lie.html.
The fact of the matter is that New York has come a long way in making divorce easier with the implementation of this new law. It is not as easy as some may think though. “No-Fault” simply ends the battle over blame. It ends the need to lie over whose fault the divorce is in the first place. It doesn’t resolve the issues of child custody and visitation, maintenance, child support, and equitable distribution. All of these issue still need to be resolved or the removal of the blame is all for naught. To be honest, the grounds issue is not litigated as often as the other issues anyway. So in most cases, this “No-Fault” statute, will not be helpful.
If you are considering getting divorced and all of the publicity about this new law has you confused; Feel free to call us at (516) 858-2620 !
According to New York Domestic Relations Law, there are certain Automatic Orders, which shall remain in effect while the divorce is pending in Supreme Court. One of these Automatic Orders addressed in this statute prevents any spouse from selling, transferring, encumbering, assigning, or removing any property without the consent of the other spouse. This preserves the ability of the court to make a proper ruling on any and all property that they have jurisdiction over at the time the action is brought. This section of the DRL also covers such topics as 401k retirement plans, health insurance for spouse and children, running up marital debts, and more.
If you or your spouse have filed for divorce or are planning on filing for divorce and you are not sure if this situation is one you will have to encounter, call The Long Island Family Law Firm of Vaughn & Weber, PLLC, at (516) 858-2620 to speak with a family law attorney!