On behalf of Cobert, Haber & Haber Attorneys at Law posted in Divorce on Thursday, June 11, 2015.
It is unfortunately common for some New York couples who are going through a divorce to make major financial blunders. These mistakes include issues that in many cases can be entirely controllable if they are known ahead of time. Because of this, people whose marriages are ending should keep a level head when they are faced with certain decisions.
Many people going through a divorce do not know how to locate all of their marital assets. In situations where one spouse handles all of the finances, it is also common for the other spouse to have little knowledge about the specifics of household income. This offers the person that controls the finances a clear advantage when it is time to negotiate the division of property. In such an event, a forensic accountant can often be of assistance in ascertaining the current state of financial affairs through an examination of tax returns and other records.
Another common divorce problem occurs when a person does not have a legal adviser to rely on for support. People without legal counsel often do not know the questions to ask about issues that commonly arise. In many cases, a person will be in such a hurry to get the process over with that he or she agrees to a concession or promise without having it be put in writing. This can be hazardous, as an oral agreement can be difficult to enforce if the person making the promise fails to follow through.
Property division is just one of many legal issues that can become contentious during a divorce. Parents whose marriages are ending often have trouble agreeing on custody and visitation as well. With the assistance of a family law attorney, it may be possible for a person to negotiate a settlement agreement with the other spouse that covers these matters.
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