Topic: Budgets | 18 post(s).
January 4, 2017 - {4:00 minutes to read} In New York, case law provides that when parents share equal physical custody of the children, the parent who earns more pays child support to the parent who earns less, based on the Child Support Standards Act.If there is a great disparity between their incomes, that might make sense. But if there is less than a substantial difference and both parents need to maintain a household for the children, applying the statute can put one parent in financi [...]
August 2, 2016 - {3:48 minutes to read} Even before the enactment of New York’s post-divorce maintenance statute, most mediators and attorneys worked with an informal but commonly accepted formula for determining the duration of maintenance based upon the length of the marriage. The longer the marriage, the longer the term of maintenance. The new statute now provides an advisory schedule, also based on the length of the marriage, for the court to consider in determining the term o [...]
February 16, 2016 - {2:48 minutes to read} Budgets are not fun – composing them, living on them and even just having to think about them. So, I understand the look in clients’ eyes when I first talk to them about completing their budgets. Here are 4 reasons why I think it’s vital to have accurate and complete budgets for each party in mediation. Budgets are a reality checkNo matter the level of income, a good percentage of my clients are living above their means. Seeing [...]
February 2, 2016 - {3:12 minutes to read} In the summer of 2015, the New York legislature passed a statute providing for post-divorce maintenance. The statute was then signed by the governor and is effective for all matters filed in Court after January 23, 2016. The statute provides a formula for computing maintenance based upon the respective incomes of the parties with a cap of $175,000 for the income of the person paying support. For a person paying support with income over $175,000, t [...]
November 11, 2014 - There are so many issues that a divorcing couple must face: How to tell the children Where will each live Whether or not they can afford to live separately Starting mediation can easily add to the apprehension, yet beginning mediation can actually be a positive step toward gaining control of your changing circumstances because the timetable, the agenda and of course, the outcome, are completely up to the two of you. There are concrete issues that need to be addr [...]
May 20, 2013 - There are so many issues that a divorcing couple must face–how to tell the children, where will each live, whether or not they can afford to live separately–starting mediation can easily add to the apprehension. I believe, however, that beginning mediation can actually be a positive step toward gaining control of your changing circumstances. The two of you set the timetable, the agenda and, of course, the outcome. There are concrete issues that need to be a [...]