If you are getting a divorce and have questions about marital assets, check out this article for guidance. Then, call our office today to get started on your case.
What Happens to the House in a Divorce
- When you go through a divorce, the house is either sold on the market or one spouse will purchase the other’s half, and refinance.
What Happens to Your Cars in a Divorce
- Many times in a divorce, each spouse will be able to keep their own vehicle and will be required to continue paying the loan if there is one.
- If one vehicle has more equity than another, we can address the issue with extra credit in other areas of the marital property.
Your Spouse’s Retirement Plan
- If you have accumulated your retirement plan throughout the course of the marriage, this is considered marital property.
- If part of the money was made prior to marriage, that amount will be removed from the shared portion.
- If one spouse has a large difference between the two accounts, ask your attorney we can file a Qualified Domestic Relations Order.
How the State Calculates Spousal Support
- New York State bases it’s spousal support calculations on a formula.
- The payments will be based upon your income and your spouse’s income.
- Short term marriages, generally do not see spousal maintenance as a factor.
Are you getting a divorce and have questions about your marital assets? Contact experienced Rochester Divorce Attorney Michael Schmitt for trusted help.
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