The Best Time to Divorce in New York

Many cash-strapped couples who would like to file for a divorce simply can't in this economy because the process is too expensive. For couples in New York, however, who would like to divorce and can afford it, now may be the most fiscally sensible time to move forward.

Assets are divided according to equitable distribution principles in New York, meaning that separate property remains with its owner. However, if the couple does not have a pre- or post-nuptial agreement in place, all marital property is divided fairly between the couple by a judge. With the economy in the state it's in, the wealthier partner in a New York marriage could potentially stand to save a substantial amount on child or spousal support by divorcing now, because courts generally use the income and value of assets at the time of filing to determine what should constitute such support. With real estate values, salaries, and investments at deflated levels, the wealthier partner's support costs will likely be much less now than they will be after the economy bounces back.

If you feel that now is the time for you to file for divorce, contact a Long Island family law attorney who can help you through the process.