The key to a less expensive divorce is to try to resolve as many issues as possible with your spouse.
If you both agree on joint custody and work out with which parent the children will live or the schedule of parenting, you are well on your way to containing costs. Once you resolve the residency of the children, the next step is to know each other's income so that
child support can be calculated. If income is easily verified, as distinguished from a spouse in a "cash" business or a business with underreported income another important financial matter can be resolved since NY has a child support formula.
Identification of marital assets is the next step. What are the assets that were purchased or acquired during the marriage, for example: house, bank accounts, retirement accounts, stocks, life insurance with cash value, advanced degrees or licenses and cars to name just a few. Likewise, what are the marital debts such as credit cards, mortgage and car loans. Once the assets and debts are known and the value determined it is not very hard to balance all of these items between the husband and wife. If either party acquired part or all of these assets before the marriage, an extra step is necessary to determine the pre-marital value which usually will be excluded from the "marital pot".
While every divorce is unique, one thing is certain; clients that can separate their emotions from the finances of their marriage will resolve their cases faster and with less cost. Even if you and your spouse cannot resolve all of your issues, we can help you reach resolution on the remaining items and prepare a thorough agreement that clarifies all of the matters that you and your spouse have worked out.
Please call our office so we can help you save money and resolve your divorce or separation.