Posted by: John R. McFadden | May 4, 2012

Article about a…

Article about a fomer super model who is seeking $50,000 per month in child support:

http://www.google.com/hostednews/ap/article/ALeqM5j9mL4onamanhhxB7s27AS-avfKHw?docId=31eb779c98d643c180b19979a6fa44ae

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Posted by: John R. McFadden | April 29, 2012

Does New York allow common law marriage?

Common law marriages are invalid under New York law.  New York will, however, recognize a marriage which was created in another state.  For example, a couple lives in Washington, D.C., where common law marriages are recognized, for a period of years and then moves to New York State.  If a common law marriage was created under Washington D.C.’s laws, then New York State will recognize it. 

For more information about divorce and family law visit: Albany Divorce Lawyers

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Posted by: John R. McFadden | April 7, 2012

I read this article earlier today and figured I would pass it along:

http://abcnews.go.com/blogs/headlines/2012/04/lesbian-denied-divorce-from-wife-laws-are-unclear/

The fact that some states allow gay marriage while others prohibit it causes problems.  Additional problems are caused by the fact that Federal law doesn’t recognize gay marriage.  This presents many problems because married people get certain benefits under Federal law like the ability to file joint tax returns.  It seems to me like eventually all states will have gay marriage and problems such as the one explained in the article will go away.

For information on divorce visit: Divorce Lawyers, Albany, New York

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Posted by: John R. McFadden | March 21, 2012

Separate and Marital Property

By: Erik Braunitzer

Showing hundreds of beautiful Hamptons Real Estate Properties, Douglas Elliman is an agency located in NYC. For more information about the author, follow him @Ellimanbraun.

 You will not be alone when you decide to close the curtain on your marriage. Ending your marriage adds you to the 50 percent of couples who decide to separate. Ending a marriage is not a walk in the park. The hardest part comes when you have to decide who owns the individual properties that you have. During a divorce, all property is considered, right from the cutlery to the house and cars. The court makes the decision on who gets what property. Some properties are considered to be “separately owned,” while others are considered to be marital properties. Knowing the difference can help you make more sense of the sharing of property.

 Marital Property

 Property that a married couple owns together is known as marital property. Both assets and debts can be jointly owned. The determination of marital property depends on the laws of a given state. In states such as Texas and Arizona, all money that the partners make is jointly owned. Everything that one spouse buys is considered to be owned by both parties. The only exceptions are gifts and inheritance.

 Separate Property

 Separate property is any property or debt that any of the spouses had before the marriage and after separation. Any inheritance and gifts that a person received while married is considered as a separate property. The point of separation is often open to debate and is subjective. It is therefore, difficult to determine the individually owned property after the separation.

 When Property Changes Ownership Status

 There are situations where separate property becomes marital property. This is determined by state laws and makes the process of separation more difficult. One example is when one spouse provides down payment for a house before marriage and then completes the payment after marriage. The amount that is paid before marriage can be claimed from the other spouse since it is considered separate property. The house is, however, considered to be marital property. It is important to maintain all financial records since you have to back up all claims regarding properties with evidence. The financial records will help you prove what was bought with your own money and when it was bought.

 Divorce Court and Asset Tracing

 Tracing assets refers to the method of proving claims of owning property. Following the rules of asset tracing is important in order to ensure that separate property does not mix with marital property. You should therefore keep purchase receipts and any other documentation that proves you are the one that bought the property.

 As time goes by, it becomes more difficult to trace the origin of assets and their ownership. The only way to ensure that this does not happen is to maintain all the documentation relating to assets. Transmutation occurs when separate property becomes marital property and is therefore, subject to equitable distribution.

 Ownership of Debts

 Debts incurred before marriage usually stay separate after a divorce. Even if jointly owned money was at some point used to pay the debts, they are still considered separate after a divorce. Most debts incurred during marriage are classified as marital debts.

For more information about divorce law visit: Albany,NY Divorce Lawyers

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Posted by: John R. McFadden | March 18, 2012

What is separate property in a New York divorce?

               Separate property essentially means property that your spouse will not be entitled to during your divorce proceedings.  There are exceptions to this, which will be the subject of a future article on this blog.

                The following types of property are considered separate property:

  1. Property acquired prior to marriage
  2. Property acquired by a gift from a third party (someone other than your spouse)
  3. Property you inherited
  4. Compensation for personal injuries
  5. Property acquired in exchange for separate property
  6. Property defined as separate in a written agreement (generally a prenup)

Virtually any other type of property is considered “marital” property.  This means that it is subject to be divided as part of the divorce.

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Posted by: John R. McFadden | February 17, 2012

Divorce Parties

It seems as if people are now throwing parties to celebrate their divorces.  This is a link describing one of these divorce parties as well as the idea of divorce parties generally:

http://www.nytimes.com/2011/05/15/fashion/celebrating-a-divorce-with-a-party-noticed.html 

 

For more information about the divorce process visit: Divorce Attorneys in Albany,NY

 

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Posted by: John R. McFadden | January 29, 2012

Tax Returns and Divorce

If you are going through a divorce, it is important to know what to do about income tax returns.  The IRS has no sympathy for the fact that you are going through a divorce and they will expect you to file a return.  So the question becomes, do you file married or single?

The rules are pretty straight forward. If you are married on the last day of the year, the IRS considers you married.  It does not matter that a divorce action is on-going.  All that matters for purposes of income tax returns is whether the divorce judgment was signed by the last day of the year.  If it was not, you are married. If it was, the IRS considers you single.

So what does this mean?  Well, if your divorce judgment was signed by the end of the tax year in question, you cannot file married filing jointly.  In this case, you must file your income tax return separate from your ex-spouse.

But if you were still married at the end of the year, you have two options – you can file married filing separate or you can file married filing jointly.  Married filing jointly will most likely result in the IRS receiving less money.  This is a good thing.  Married filing separate is generally a very bad tax status and you should avoid this status if possible. 

The problem with filing jointly is that it will require you and your spouse to work together to file a joint return.  However, it is worth it for you to try to put your differences aside and file jointly.  You should also try to come to some form of understanding about how the return will be divided. 

If you can’t come to an agreement about how to divide the money, you can file jointly and let one of the divorce attorneys hold the money until an agreement can be reached. 

 While you may be upset about the divorce and not want to discuss this issue with your spouse, there is no reason the IRS should get more money than it is due.   Put your differences aside and file jointly to save money.

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Posted by: John R. McFadden | January 15, 2012

How to end a divorce case in New York?

Many people get frustrated because the process takes a long time.   There can be many reasons why a divorce will last a long time (courts are backed up,the spouses are angry and can’t resolve anything, complicated assets).  However, there are really only 3 ways a divorce case can end.  They are as follows:

1.  The spouses reach an agreement regarding all issues in the case.  This will clear the path for the judge to sign the divorce judgment.

2.  The case is tried to conclusion.   This is where witnesses testify and evidence is put before the judge and the judge then decides all issues.  This generally takes much longer than #1.

3.  The divorce is withdrawn.  This means the person who filed for divorce drops the case.

For more information visit: Albany Divorce Law Firms

 

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Posted by: John R. McFadden | January 2, 2012

Happy New Year!

 

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Posted by: John R. McFadden | December 11, 2011

What time of year do people file for divorce?

I find that I receive the most telephone calls from new clients wanting a divorce at the following times of year:

1.  During January after the holiday season is over.  November and December are generally slow months for new divorce filings.  People don’t want to ruin their spouse’s holiday by filing for divorce.

2. The weeks after Valentine’s Day.  This is a very popular time of year for new divorce filings.  What often happens is that Valentine’s Day goes badly and one spouse wants a divorce.  Generally, it is the wife who files for divorce after a lackluster Valentine’s Day.

3.  The weeks after Mother’s Day.  This is the same concept as Valentine’s Day.  A bad Mother’s Day is the last straw and the Wife/Mother files for a divorce.

If you are considering divorce, visit: Albany,NY Divorce Lawyers

 

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