Handling Money During Divorce
If you are worried about handling money during divorce, you probably are searching for answers. Our Saratoga divorce attorney is here to answer your questions.
Handling Money During Divorce | Joint Tax Return
You can file jointly if you are not divorced before the end of the tax year. You’re better served seeking the advice of a tax specialist rather than only an attorney in this case. While filing jointly may save both parties money, there may be other complicating factors to consider.
Handling Money During Divorce | Open a New Bank Account
It will be a good idea for you to open your own bank account as soon as possible, even if you are still living in the same household as your spouse. Any income you make after one party files for divorce is yours, and not subject to equitable distribution along with marital assets. If you continue to deposit paychecks into a shared account, it may be difficult to keep these funds safe.
Handling Money During Divorce | Life Insurance
Once an individual files for divorce in New York, the court issues temporary orders prohibiting certain actions. These include modifying a life insurance policy. If you’re worried about a spouse dropping you from his or her health insurance, rest easy – the court prohibits this, too, along with the selling of major assets.
Handling Money During Divorce | Make Spouse Pay Fees?
In New York State, courts presumptively entitle the less moneyed or non-moneyed spouse in a divorce case to an award covering attorney fees. You may request this in court. This presumption rests, of course, on the income disparity, but a judge might consider other factors.
If you want fierce legal representation for your divorce, please call our experienced Saratoga divorce attorneys today.