Unfortunately, roughly half of all marriages end in divorce. Although most couples do not believe that they will divorce, sadly, many will. If divorce is imminent, there are certain steps each party should take to guarantee that their legal rights are protected. In New York, divorce planning helps the parties consider the impacts of divorce on their futures. Many New York couples use divorce planning to protect their property and finances.
Divorce planning often involves consulting a financial adviser. With the advice of a divorce attorney and a financial adviser, each party may rest assured that all aspects of a divorce are carefully examined. For example, if a couple reaches a settlement agreement, the financial adviser and the divorce attorney may review its terms to make sure there are no unnecessary negative effects on the client.
Issues involving property and financial accounts are often intricate and complex. For example, there are a myriad of retirement accounts that an individual may have, and property issues vary depending on the language of the deed and loan documents. Without careful consideration of these issues, an individual may inadvertently sign away more property than intended in a settlement divorce. For example, many clients have been unpleasantly surprised when, after their divorce is finalized, they find out that they have very little retirement left to look forward to.
Additionally, judges want to be sure that agreements are fair and equitable, and having proof of additional expert advice will support the agreement’s approval.