Don’t Make Your High-Net-Worth Divorce More Complicated

New York is an equitable distribution state. Before your assets get divided, the court is going to consider several factors surrounding your marriage: The assets you acquired as a married couple The assets you acquired separately (e.g., inheritances, businesses you began before marriage, and gifts you received).  The length of time you were married Your age and health  The amount of spousal support you will pay or Read More

Dissolve Your Business The Right Way

Creating and establishing your business took time, and so will dissolving it. Though there are several steps you must take, it is worth it. When you dissolve your business correctly, you are effectively limiting your liability. For example, if you have an LLC, you have annual fees, reports, and other administrative obligations. Unless you dissolve your business by taking the appropriate steps, the IRS has no way of Read More

The Complexities Of High-Net-Worth Divorces

Traditionally, having a million dollars or more could constitute a high-net-worth divorce. Associating a high-net-worth divorce with a specific dollar amount may be somewhat misleading. For example, the average cost of a home in some areas of New York is well beyond $4 million. Though these people make enough money to afford these properties, that may be where most of their funds are going.  Rather than money, take a Read More

A Fresh Look At Prenuptial Agreements

Having a preconceived notion about a future event is likely going to impact the way you view it and ultimately experience it. Imagine that you have an upcoming work conference to attend, and you believe that the guest lecturer scheduled to speak will be dull or uninspiring. Think about what your mindset will be like when you are in the auditorium that day waiting for the person to take the stage.  Our judgments, Read More

When Someone Doesn’t Honor A Divorce Decree

Regardless of whether you are in the divorce process or beyond it, there is always a concern that your former spouse won’t follow the divorce decree. Before your divorce could be finalized, there were many details that needed to be sorted. Though there are always unique elements to consider, most people have to agree about dividing marital assets, child and spousal support, and custody.  Either you and your spouse Read More

New York’s Cannabis Control Board

Medicinal marijuana has been legal in New York since 2014 (and was approved for recreational use years later). That may come as a surprise to many New Yorkers. The ability to access and purchase medical marijuana has been limited. One of the biggest hurdles was the mandate that required patients to buy the drug from a licensed dispensary instead of growing it in their homes.   Seemingly, that doesn’t appear to be an Read More

Divorce & Estate Planning

There may be a general misconception that it is a single document for those who have not begun building an estate plan. In fact, it is a collection of documents that can work for you in various ways. Each one is a tool that has the potential to either protect your assets, protect you, or pass assets to your designated beneficiaries (or both).  Another common error is to think of estate planning as a single event. Read More

3 Reasons To Consider Divorce Mediation

When people are in the midst of the divorce process, they aren’t hoping for it to last longer. It can be an emotionally difficult period in anyone’s life. There can be a significant amount of confusion and uncertainty during that time regarding the future. Having unresolved issues such as child custody and spousal support can be a heavy burden to carry throughout your daily life.  Mediation is an elegant solution to Read More

Understanding New York’s Cannabis Laws

Even in states where marijuana has been legalized for both recreational and medicinal use, there remains a level of confusion about it. People often ask about how much they can have, the age they need to be to use it, how to sell it, and how former convictions are being treated.  The Marijuana Regulation & Taxation Act (MRTA) was the legislation that passed and allowed cannabis to be legal in New York. After it Read More

The Importance Of A Healthcare Proxy

When people say they don’t need an estate plan because they don’t have enough money, they simply don’t understand all that an estate plan can do for them. Granted, there is a clear argument to be made saying that everyone needs an estate plan.  To take this one step further, aspects of an estate plan don’t directly correlate with money or finances. One such example of this is a healthcare proxy. This document allows Read More