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March 2018 Archives

Divorcing parents can divide child custody and visitation

For many New York parents going through a divorce, planning for a future of co-parenting can be very difficult. The process often involves dealing with child custody and visitation. While both refer to parenting time with a minor child, the two are distinct and separate. Child custody is not only about physical presence but also the right to make important legal, medical or educational decisions for a child.

Probate challenges can arise after death

Avoiding probate because of its expense and potential for conflict is a priority for many people in New York who are engaged in the estate planning process, leading to a preference for non-probate transfers, life insurance and other types of bequests that can pass without probate. Nevertheless, most estates will still need to go through an often-substantial probate process. If someone has an issue with the execution of the will after a loved one's death, filing a probate claim is the major way to seek a resolution.

How to properly divide a 401(k) in divorce

When a couple in New York chooses to get a divorce, marital property must generally be divided. If the assets include 401(k) plans, proper steps must be taken to ensure that everything is divided properly. Failure to do so could result in penalties and taxes owed. A 401(k) or other qualified workplace retirement plan will be divided in accordance with a qualified domestic relations order (QDRO).

Tips for financial planning in case of divorce

Divorce might not be on the minds of couples in New York who are getting married, but there are reasons that individuals might want to think about creating a prenuptial agreement. Just as most people put on seat belts when they get into a car although they do not expect to crash, taking financial precautions in case of a divorce can also protect people.

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Trotto Law Firm, P.C.
140 Allens Creek, Suite 3
Rochester, NY 14618

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