Divorce has a serious impact on the family’s financial situation, individually and collectively. Once shared incomes and assets become divided, considerable lifestyle changes can accompany single-income households. The old adage that it is cheaper to live together than separately is generally true—and, I help my clients project the cost of maintaining dual households.
My goal is to help my clients transition through this financial change as smoothly as possible. I am devoted to helping my clients seek settlement arrangements that support their honest financial needs.
Alimony in New York
Alimony in New York State is called “maintenance” or “spousal maintenance.” It can be awarded to either spouse upon the dissolution of the marriage or based upon immediate need; it is intended to provide transitory economic stability.
Several factors determine the amount and length of the awarded maintenance, including:
- Standard of living during marriage
- Circumstances of divorce
- Present and future earnings of each party
- Each parties individual assets
- Duration of marriage, age and health of the parties
I will help you understand the law’s approach to spousal maintenance and whether it plays a role in your situation.
New York State courts make the final decisions concerning child support payments. The court uses statutory guidelines and considers many different circumstances when calculating who pays and how much:
- Income and assets of both parents
- Parameters of custody agreement (time spent living at each household)
- Current and projected needs of children
- Medical and insurance costs
- Age and number of children
I try to take special care to ensure the court understands the unique circumstances of your children’s financial needs.
Material Change of Circumstance – Financial Support
Marital and non-marital financial support settlements can be renegotiated under the scope of an unanticipated material change of circumstance. The party seeking to renegotiate will have to meet the required burden of proof to obtain a change:
- Increase or decrease in needs of supported party
- Significant income change in either party
- Changes in medical or insurance costs
- Change in annual expense
Financial support settlements are put in place to be long-lasting but not permanent. The law recognizes the need to modify support obligations under certain circumstances. I help my clients face the changes in their lives and provide legal counsel to help cope with those new circumstances.