Topic: Retirement | 14 post(s).
December 16, 2021 - {4 minutes to read} The most typical way a pension is divided would be through a Qualified Domestic Relations Order (QDRO). A QDRO provides that, at retirement, the marital portion of the pension will be divided in the way that you have agreed upon in your Separation Agreement, usually 50%. The marital portion is the part that accumulated during the marriage. But you’re in mediation, so you don’t have to do what is typically done. Especially if the QDRO does [...]
July 16, 2021 - Strong emotions can arise when you are talking about distributing a pension. By explaining why each of you feels entitled to the pension, you can open the door to a productive discussion and start talking about options in a way that recognizes what you both need and what your expectations are. Through that discussion, you may be able to reach a settlement that's going to meet those needs and expectations. [...]
June 30, 2021 - To the extent that your pension was accumulated during the marriage, it would be treated like any other assets subject to distribution. But there may need to be more to the discussion than just what the law provides. [...]
January 3, 2018 - {4:06 minutes to read} “We don’t need to mediate–we agreed to everything already and just want you to write it up.” “We don’t have any assets, so we don’t have anything to talk about.” “We don’t need a separation agreement, we just want to get divorced.” Undoubtedly, as all mediators do, I’ve heard these statements, or variations on them, more often than I can count. It’s understandable, bu [...]
September 20, 2017 - {4:18 minutes to read} I’ve heard many complaints regarding divorce mediation: “It might be okay for simple matters but not for anything complicated.” “It’s too touchy-feely.” “You give up all of your rights when you mediate.” These types of complaints are easily dismissed as biased and uninformed; however, there are some complaints I’ve heard which I agree should be taken seriously. Mediator Lacking Relevant [...]
June 5, 2017 - {4:00 minutes to read} Certain children’s expenses must be paid in addition to child support, according to the child support statute: medical insurance premiums, unreimbursed medical expenses and child care expenses. These are mandatory add-ons. Then, there are expenses that may be ordered at or in the Court’s discretion, including post-secondary educational expenses. The Court will consider the parties’ circumstances and what is in the best interest o [...]
August 16, 2016 - {3:30 minutes to read} When I began practicing family law, one of the first lessons I learned was that clients do not consider all assets the same. The one asset that consistently holds a very special place in the heart of a client is a pension. Clients express feeling a different sense of entitlement to their pension because: They performed at a job where their lives, health and safety were placed in jeopardy; They may have taken less in salary for the assurance of [...]
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 [...]
May 10, 2016 - {3:24 minutes to read} I attended a mediation workshop that focused on the various ways that a mediator can address an impasse in mediation, and help clients get beyond it. Of the many tools, one that struck me profoundly was asking the clients how they think this would make them look in the eyes of their children. Not necessarily now, but when they are adults and may have a keener awareness of what happened in the aftermath of their parents’ divorce. Manipulativ [...]
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 [...]
June 9, 2015 - {3:36 minutes to read} New York enacted a statute several years ago to put some clarity into the process of modifying child support. The statute provides that there are three bases for a party to ask a Court to modify support: (1) a substantial change in circumstances; (2) the passage of three years since the last order or modification; or (3) that a party’s income has changed by 15% or more since the last order or modification. In a separation agreement, [...]
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 [...]