By Randy S. Margulis | Published September 30, 2023 | Posted in Divorce | Tagged Tags: equitable distribution, wasted assets, wasteful dissipation | Comments Off on What Is Wasteful Dissipation of Assets That Will Affect Equitable Distribution?
Among the most challenging issues in divorce cases can be how to divide the spouses’ marital property between them. New York follows the rule of equitable distribution, which means all marital assets must be divided fairly, though not necessarily equally. Division becomes problematic when a spouse intentionally or recklessly spends, damages, destroys or disposes of Read More
Read MoreWhen you get divorced, your final settlement or judgment will control how your property will be divided. Retirement accounts such as 401(k)s are significant assets for many couples, and they are subject to division as well. But dividing a 401(k) comes with its share of complexities. First, be aware that New York law applies the Read More
Read MoreOne of the most expensive aspects of raising children can be providing for their college education. According to the College Board, a nonprofit group, the average cost to attend a year of college in 2022-23 was $27,940 at a public school and $57,570 at a private school. With college costs rising at a steeper rate Read More
Read MoreIf you or your spouse own an interest in a business, you can be certain that it will feature prominently in your divorce. New York is an equitable distribution state, which means all property acquired by either spouse during the marriage is subject to division. However, a stake in a business presents special challenges, especially Read More
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