You are likely familiar with a chapter 7, or liquidation bankruptcy, and a chapter 13 personal or consumer bankruptcy where a person’s debts are reorganized to repay creditors by a proportional share of the debtor’s income and assets. However, because of the unique nature of agricultural and fishing operations, in the 1980's a new section of the bankruptcy code was written.
Divorce can bring out many different emotions in New York parents. When it comes to the part of the proceedings that involves who gets primary custody of the child, many spouses express their determination to “win” the battle and defeat their ex. While some keep the child’s best interest in mind, there are those who let their emotions get the best of them and focus more on making their ex-partner lose.
The determination to win can be an unhealthy mindset to have in this scenario. Even if you were to “win” primary custody of the child, there can still be several downsides that come from the process. It is important as a parent to be aware of these troubles so you can participate in the custody determination with the right focus in mind.
“Best interests of the child,” is a phrase you may have heard said a lot when talking about custody. Courts generally decide custody based on what they think best fits the “best interests of the child” but what does that mean exactly?
Determining what the child’s “best interests” are can be confusing and complicated. It can be hard to determine what is actually best for your child.
Entering the world of bankruptcy may feel overwhelming for anyone looking to relieve their burden of unmet financial obligations. However, simplifying the process begins by understanding the basic components that leads you toward the relief and freedom you seek. While it may feel daunting at first, reading this article is one of the best first steps you can take to regain your financial life.
Where does it all begin?
You and your spouse have a successful business. Together, the two of you worked hard to make this dream a reality. You both put in long hours, did research and worked through issues. This business is your livelihood. Both of you are extremely proud of what you’ve accomplished as business partners.
Unfortunately, your marriage is not seeing the same success. You said ‘I do’ with hopes of your relationship lasting forever. But that fairytale just isn’t reality anymore. Now, the two of you have decided that it would be best for your futures if you get a divorce.
Sometimes, life kicks you while you are down. Often times, financial stress causes marital problems contributing to divorce. The financial woes which caused problems in the marriage often get worse during and after the divorce process.
Unfortunately, many couples are left with little more to share than debt when they go through a divorce. The cost of maintaining two separate households is obviously higher than maintaining one, making debt which was difficult to pay during the marriage impossible to pay after the divorce.
Below are lists of what you are entitled to keep following a bankruptcy filing. If you have assets which are not exempt, either because they are worth too much or do not fit with one of the available exemptions listed below, you may still be able to keep the property. You may be able to keep all or most of your assets through either a Chapter 13 filing or buy negotiating a "buy-back" of your property with the bankruptcy trustee. Consult with a local bankruptcy attorney for answers any specific questions you have about asset retention.
The process of divorce is difficult enough without involving attorneys who increase the acrimony. The common perception of the divorce attorney is of an insensitive, aggressive individual who fights like a bulldog no matter what the issue. While you should have a divorce attorney who will protect your rights and fight if necessary, having an attorney who is easy to hate may not be the best idea. If you cannot stand to be around your divorce lawyer, chances are your divorce will be equally uncomfortable. When children are involved, finding an attorney with the right skill and personality is of utmost importance.
Most divorce cases, even if they begin as contested matters, are settled prior to trial. Financial issues can usually be resolved once all relevant information is exchanged, appraisals completed, etc. While sometimes property distribution must be decided by trial, usually maintenance (alimony) and child custody are the unresolved issues necessitating trial.
A child custody case may be filed in Family Court, or it may be litigated as part of a divorce case in Supreme Court. What should you expect if custody is an issue in your divorce?