Divorce Financial Planning

The Proper Way to Determine Spousal Maintenance

There’s no need to change the law.

By Carl M. Palatnik

There has been much discussion, even recent proposed legislation (See New York State Assembly Bill A10446), over whether Domestic Relations Law (DRL) § 236(B)(6)(a), the statute defining the basis and supporting factors for determining spousal maintenance awards in New York, is difficult to apply and should be replaced with a statute that uses a formula to calculate both the amount and duration of maintenance.

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Pitfalls Associated with Attempts to Tax Impact Retirement Assets for Equitable Distribution

Volume 13, Numbers 7 & 8
April & May 2012
By Carl M. Palatnik

It has become common practice in equitable distribution calculations to reduce pension and other tax-deferred retirement asset valuations in an attempt to adjust for the fact that these assets consist largely, if not exclusively, of pretax dollars. However, there are several problems associated with this practice, and they should be considered by divorcing parties and their advisers.

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Considering a Particular Settlement? Will It Work for You?

Susan and Michael Johnson thought their divorce would be different.

When they decided to split after 15 years of marriage, the couple was determined to keep things amicable and to avoid the horror stories they’d heard so often from friends and relatives. Above all, they were committed to making sure their son David, 11, would be well cared for.

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Taking Control of Your Personal Finances in Divorce

I often hear from clients that there are either too many, and sometimes not enough, choices when it comes to controlling their financial situation. An analogy might be made with wanting to lose weight. Basically you could reduce your calorie intake (dieting), or you could increase the calories your burn (exercise), or some combination. The same is true with money – look for ways to get more, spend less, or both.

Following are some options you might want to consider to help impact – positively – your financial situation:

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