Covering Your Assets in a Divorce

Aug 8, 2012 by

Under a bill recently passed by the state legislature, as soon as a husband or wife sues for divorce by filing a summons in New York State Supreme Court, they are both required to not alter the economic status of the marriage from that point on. As soon a person receives a divorce summons they can no longer move money or other property around to hide it or shield it from claims by their spouse. In years past, planning a divorce also meant planning to be the first one to clean out the bank...

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No-Fault Divorce Nation

Aug 8, 2012 by

New York Governor David Paterson signed a bill into law this week officially making New York the last state in the nation to allow no-fault divorce. The new law will finally allow couples to get a divorce based on irreconcilable differences alone, and reduces the length of the process from one year to six months. Paterson remarked “Finally, New York has brought its divorce laws into the 21st century,” in reference to the fact that California first adopted no-fault divorce in 1970...

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