Just published an article in Family Affaires to help you think about your money during divorce. Money can be a big stressor in a marriage, and is often one of the greatest sources of anxiety during a divorce, whether you are mediating, litigating or doing a collaborative process. These tips can help you get a handle on them so you know what you are working with! Here’s to a productive and fruitful 2016!
We’re quoted in Smart Money!
Well, this doesn’t happen every day! We’re quoted in Smart Money – a national magazine published by the Wall Street Journal. I had quite a long talk with the reporter, Glenn Ruffenbach. He just used one idea from our discussion, but it is an important one – that disputes between siblings is a bit different because they don’t often have the opportunity (or the experience) to work on problem-solving together. While other articles have focused on what elder mediation is, … read more »
New Tax Law Affecting Estate Planning
The new tax bill signed into law last week affects estate planning in the following ways, effective January 1, 2011: The federal estate tax exemption is now $5,000,000 per person (but there is still no tax when property passes to a surviving spouse). This is the amount that can pass free of federal estate taxes. (This was $3.5 million in 2009.) The federal estate tax rate is now 35% (this was 45% in 2009). The New York State estate exemption … read more »
Who will get your property when you die?
Who will inherit from you if you die without a will? It might not be the people you feel most connected to. Here is the order in New York State. If you don’t have a relative in one category, see the next category down. (for instance, if you don’t have a spouse, your money will go to your kids). If you have a spouse and kids, your spouse gets the first $50,000 + half of the remaining estate. Your kids … read more »
How to Pick a Divorce Lawyer
The New York Times has been running a fantastic series about Divorce and Money. Tonight they asked people to comment on the best way to pick a divorce lawyer. Here is my answer: The best way to pick a divorce lawyer is to find someone who will try to optimize the situation for everyone involved (particularly the kids), not just for you. Think about the emotional and psychic costs as well as the financial costs. I am an attorney who only … read more »