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Dealing with restrictions during a pending divorce

Going through a divorce can lead to some unexpected restrictions for some New York couples. During the process of finalizing a split, there are a number of changes and actions that may require patience. Even spouses who are prepared for the financial and legal changes may find themselves surprised by some of the things that they cannot do during the divorce proceedings.

For example, a spouse will generally need to keep their future ex on their health insurance plan until the divorce is finalized. While a child custody battle takes place, one parent may be restricted from leaving the country with the children. In many cases, overseas travel with the children is restricted during divorce and custody disputes, especially when one of the parties has citizenship, residency rights or family ties to another country that could enable the parent to keep them outside the United States. In many cases, a parent simply wants to travel with their kids. However, they could find themselves blocked by the restrictions surrounding their divorce.

Unexpected rules during a divorce

Once they begin the divorce process, New York spouses should first consult with their attorneys before making significant changes to their finances or taking certain parental actions. There are various rules and restrictions that come into play during a divorce, and not adhering to them can result in legal complications.

Neither party in a divorce can get rid of or transfer assets without the express consent of the other spouse or a court order. In addition, they are not permitted to remove their spouse's authorization on financial accounts, sell major assets or fund a large shopping spree on credit cards.

Making a divorce easier to handle

Divorce can be painful for any New York couple. However, there are ways to make the process as easy as possible. First, it's important for an individual to know what he or she needs during this time. It's also worthwhile to understand what the ex-spouse wants to settle a divorce in a timely manner.

Divorces are generally easier to handle when they are thought of as business deals. Having this mindset allows an individual to think rationally instead of emotionally when ending a marriage. Since this is a business arrangement, it's important to know the key numbers in the deal. Ideally, a spouse will gather financial documents, credit reports and other information needed to determine what he or she will need from the divorce settlement. An attorney could gain access to this information on a client's behalf.

Know how to pursue the nest egg during divorce

You’ve worked hard to raise your children. You put your career on hold to be a stay-at-home mother while your husband worked. This was an agreement that the two of you decided on together. A lot of thought and planning went into it, because you had your own career aspirations.

Now you and your husband have decided that your marriage isn’t working. You’ve tried couples counseling, date nights and new negotiations. While the two of you tried, you’ve decided it’s best if you separate. As you plan for the divorce process, you worry about your children, finances and future.

Getting child support right between divorcing couples

Child support is a major point of contention among New York parents, especially formerly married exes. While some custodial parents feel like they deserve more, others believe that the system is rigged in favor of the recipients. The Census Bureau paints a clear picture of the child support dilemma in the U.S.

In the recent report Custodial Mothers and Fathers and Their Child Support, researchers found that there are 13.4 million single parents with custody of their children living in America. Nearly half of them report that they have some form of child support agreement. While a majority of agreements are formal, a select 10 percent of them are informal in nature.

Duties of estate administrators and executors

When a New York will holder passes away, an executor will be named. Those who die without wills must have administrators appointed to handle their estates. Whether a person serves as an executor or an administrator, he or she will have certain duties to perform. It is important that executors and administrators understand their responsibilities and handle them correctly.

Executors and administrators will be tasked with taking control of the assets of the decedents. They will need to notify all of the creditors and beneficiaries or heirs and pay the outstanding debts out of the estate's proceeds. After this is completed, they must distribute the remaining assets according to the wills or to the state's laws of intestacy.

How collaboration in divorce may bring more financial security

When it comes to New York divorces, many spouses are concerned about their future financial stability. Increasingly, couples are working toward collaborative solutions in divorce that can lead to more financially secure futures. Many ex spouses and financial experts have reported better outcomes using this approach.

One step in this process is to create a divorce "team" that includes a financial planner. An attorney and family members who can offer emotional support can complete this team. Working with a team may help better prepare a spouse to negotiate in a tense situation.

The dangers of divorce for entrepreneurs

While New York entrepreneurs may frequently deal with challenges in their businesses, one of the greatest challenges for an entrepreneur could be keeping a marriage going. There are several reasons that being an entrepreneur might not be compatible with a smooth relationship.

Although they are risk-taking personalities themselves, entrepreneurs might marry people who are less risk-oriented. The partner who prefers more stability may have to suffer through the stress of running low on money, dealing with calls from collections and chasing more funding. Another issue with entrepreneurs is time management. Building up a new company takes an enormous amount of time, and it might leave very little time for the entrepreneur to cultivate the marriage as well.

Legal liability for debt after divorce

While asset division is a major concern for couples, ending a relationship also brings about the need to divide any debts incurred during the marriage. In a perfect world, each spouse takes responsibility for paying back debts they created and any debts in their own name.

However, accountability for debt is not always top priority, leaving spouses liable for joint debt. A divorce decree should address the debts each spouse will need to pay after the divorce is final.

Things to keep in mind about sharing legal custody

Making a decision about child custody is often thought of as deciding where the child will live, but that is just the definition of physical custody. Parents in New York must also decide or have a judge decide whether they will share legal custody. Legal custody refers to the right of a parent to make major decisions about issues such as a child's religion, health care and education. Parents may share legal custody even if one has primary physical custody while the other has visitation rights.

Joint legal custody has its advantages. When a stressful decision needs to be made, it can be helpful to do so with the other parent. Joint custody can also work well even if parents go into the relationship with a lot of conflicts. If they are able to work through this conflict, it can be beneficial for children to see that it is possible to resolve differences and reach a workable solution.

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