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April 2014 Archives

How do New York family courts divide student debt? (2)

Earlier this week, we began a discussion of student debt and how it is divided in divorce. While loans that are taken out before marriage are often relatively easy to split, debt that is incurred during the marriage is a bit trickier. Technically, that debt can be considered marital property, and in New York and other equitable distribution states, it could conceivably be divided among the spouses.

How do New York family courts divide student debt? (1)

One of the most complicated aspects of many New York divorces is the process of dividing up a couple’s joint property. While many believe that this entails only the division of bank accounts, real estate, retirement savings and other assets, there is one additional aspect of property division that can be very challenging: dividing up debt. More couples are struggling with this task today, after the economic recession and resulting financial rollercoaster of the past few years.

For Twitter or for poorer: Is social media hurting your marriage?

One of the many benefits of Twitter and other social media websites is that they allow us to make connections and build relationships with people that we otherwise may not have met. But now, a new study is arguing the opposite, saying that regular use of Twitter can “be damaging to…romantic relationships” and is “linked to infidelity and divorce.”  

How to prepare your first post-divorce tax filing

With just a few days left to go until the income tax filing deadline, many Erie County residents are likely scrambling to complete their taxes on time. For those New Yorkers who divorced in 2013, there may have been many reasons to delay filing until the last minute, not the least of which is the general confusion that a change in marital status can bring.

Financial tips for the divorce process

One of the most daunting aspects of the divorce process is figuring out how to divide up your assets and debts, and ultimately make the transition from one joint-income to two single-income households. It can be a complicated process, to be sure. But if you take a few steps to evaluate and look after your finances prior to and during divorce, you can start your new single life in good financial health.

Olympic skier accused of failing to pay child support

Earlier this year, Olympic downhill skier Bode Miller made headlines when he won a bronze medal at the Sochi Winter Olympic Games, and controversy arose when a persistent correspondent brought him to tears during an emotional post-race interview. Now Miller is once again making news, but for reasons other than his skiing achievements: he is being accused of failing to pay child support for his one-year-old child.

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