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Oneida County Divorce Law Blog

Does getting remarried impact a divided pension?

Your spouse worked for 30 years to build up a pension, and you were married for 15 years of that employment. When you got divorced, you got a qualified domestic relations order (QDRO) saying that you got 50 percent of your spouse's pension for that 15 years. In total, it's about 25 percent of the entire pension.

After all, that pension counts as a marital asset. Your spouse earned it while you were married. You have a right to that money, just like you would have a right to wages earned during the marriage. Delaying the payment through a pension changes nothing.

Becoming a workaholic can lead to divorce

In modern American culture, people often think it is healthy and even commendable to become a workaholic. Putting in extra hours is seen as dedication. People brag about how much they work and how much they're getting done.

While there is nothing wrong with being passionate about your job and putting in extra effort, you should know that this mindset can lead to divorce. After all, a marriage takes time and effort, as well. If you neglect your marriage in favor of your job, it is going to suffer. You only have 24 hours in every day. Spending the majority of them at the office takes you away from other parts of your life.

How do I handle issues with parenting time?

Parenting time is one of the most contentious discussions people can have during a separation, divorce or battle for child custody. Even when a child custody agreement is in place, some parents will take it upon themselves to do whatever they please. Today, we will take a look at how you can handle issues with parenting time in New York.

When an issue with parenting time arises, it can either be direct or indirect. Direct issues include instances where one parent prevents the child from seeing the other parent on purpose. This is done by taking the child without permission, failing to return the child on time or by moving with the child to another state without approval from the court.

A 401(K) is not always split down the middle in a divorce

New York is an equitable division state, which means that in a divorce, assets are not necessarily split 50-50. The judge will decide on a division that is deemed fair for both parties.

Retirement accounts are always among the more important assets, and a 401(k) is among the most common retirement account. You will sign a QDRO to show how this account will be divided.

Protecting a pension using a prenuptial or postnuptial agreement

If you are planning to get married in New York, you need to think about how you will protect every asset you bring into the marriage. Even if you believe the marriage could never end in divorce, it's still a good idea to have a plan in place to protect yourself should the unthinkable happen. This is best done using a prenuptial agreement. One important item to protect in that agreement is your pension.

It's always smart to take a look at your legal options before entering into a contract, and marriage is a contract. You need to protect your assets -- especially a pension. If your marriage ends in divorce and you didn't have a prenup in place, you could lose your entire pension, or at least half of it.

Dividing property in the midst of an uncontested divorce

You've likely heard the term uncontested divorce in the past. You most certainly have heard it if you are in the throes of a divorce right now. An uncontested divorce is one in which you and your spouse are able to come to an amicable agreement on the terms of the divorce. This includes the division of your property and assets, including art collections, cars, the home and more.

Being that New York is an equitable division state, if your divorce proceedings move into a court, the judge will determine who gets what under the law. This means that the assets in the marriage will be divided as fairly and equally as possible, not just split based on which person's name is on which item.

Refrain from social media use when going through divorce

It's wise to refrain from using social media when going through a divorce. These accounts can easily get you into trouble. That's especially true if you are trying to come away with a good settlement when the agreement is finalized. Here's why social media can be so detrimental to your divorce.

A significant disadvantage with social media is the fact that it allows others the chance to make comments about your life. Even if you are avoiding getting into arguments with your spouse on social media, others might do so, thinking they are doing you a favor.

Consent required when changing retirement account beneficiary

Retirement accounts are some of the biggest benefits of employment. Many companies will do all they can to match the contributions of their employees into retirement accounts. Some will go above matching the contributions as a way of enticing candidates to accept job offers. Let's take a look at how you can change the beneficiary of a retirement account in today's post.

Any changes made to a retirement account require the consent of the spouse in order to make those changes. You cannot change a beneficiary or payment option without a spouse's written consent. This was written into law back in 1984 under the Retirement Equity Act. Other rules pertaining to pensions were written in the Employee Retirement Income Security Act (ERISA) back in 1974. The Retirement Equity Act (REA) was an amendment to ERISA.

Ups and downs of alimony under The Tax Cuts and Jobs Act

Many high-asset couples may be looking at The Tax Cuts and Jobs Act and thinking that it seems one-sided, taxing the payor of alimony and providing support money tax-free to the receiver. In truth, the law could be financially beneficial to both parties under certain conditions, or it could be unfavorable for both in other situations.

Alimony during property division

New report says divorce costs $2,000 more with student loans

A new report claims that it can cost you $2,000 more to get a divorce if you have student loans in your name. It seems as though having student loan debt is becoming a big reason for couples to get divorced these days. Now, add on the notion that it can lead to higher divorce costs,and student loan debt is really taking a toll on some people living in New York.

A study from Student Loan Hero has found that people who have gotten divorced and had student loan debt were spending $2,000 more that people who got divorced and didn't have student loan debt.

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