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Wills & Inheritances

Handling premarital debt in a New York divorce

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When you get married, it legally changes your financial situation. Now everything you earn or acquire becomes marital property, unless a third party gifted or bequeathed something exclusively to you. When you intermingle your finances after marriage, how does it affect your debt liability? If your spouse has student loans, credit card debt, and other…

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What happens to your New York estate plan during a divorce?

legal will

If you have recently filed for divorce, then you will also want to consider changing your estate plan in the process. The New York Estates, Powers, and Trusts Law 5-1.4 addresses the effect of divorce, annulment, or  judicial separation on estate planning documents such as wills, and if certain steps are not taken, then your…

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Protecting inheritances in a New York divorce

inheritance laws

When you’re married, you share everything in your lives, even assets that you inherited. Perhaps your parents left you a beautiful vacation home, or you have a rare coin collection from your grandfather. If the marriage ends in divorce, you naturally want to keep that property, especially if it has strong sentimental and financial value.…

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What you should know about presumptive revocation and divorce

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New York law declares that a testator, otherwise known as a person who has written and executed a last will and testament, create a subsequent will or direct another person to act upon the original will, thus allowing the first will to be revoked. In a ruling that came down over the summer, the New…

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Why cohabitation agreements matter

broken marriage relationship needing attonrney

Avoiding the complexities of marriage and a potential divorce might sound good if you choose to live together instead, but you should know the downsides of pursuing this route, too. Couples living together in New York do not have the protection of a common law marriage to provide rights related to medical decisions, survivor benefits,…

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In my divorce, what will be considered marital property?

What is marital property

Few people want to split up belongings, but sometimes that is necessary in a divorce. Marital property, or marital assets, is property and items obtained during a marriage. There are, however, a few exceptions. In order to understand what marital property is, it makes sense to understand what things are not marital property, so that…

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Financial Concerns for Recently Widowed

Losing one’s spouse comes with additional financial woes on top of the emotional. According to a New York Times article published September 3, 2011, the recently widowed may be more prone to falling into financial pitfalls. The death of a spouse can leave many financial issues left unattended, and women often take on these concerns.…

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Changing your estate after changing your marital status

Divorce is a life altering event that affects a number of different aspects of a person’s life, and some of these aspects are often overlooked. Once a divorce is finalized it is important to review all of the details of your current status to make sure that you did not forget something. One of the…

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