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The dissolution of marriage can affect economic status

Few people, both men and women, are able to get through a divorce and maintain the same standard of living they had when married. The dissolution of marriage simply takes its toll, both emotionally and financially, on couples and families living in New York and elsewhere. The men and women who remained at home during the marriage, in order to take care of children or for other reasons, seem to be hurt the most from an economic standpoint when all is said and done.

Spouses who stay at home have good reason for doing so. Unfortunately, this removes them from the workforce or from gaining an education — both of which are useful if the need to support oneself arises. Divorce places these individuals in a tough position, needing to support themselves and, possibly, children on far less income than they are used to. Many are left wondering if anything can be included in their divorce settlement to assist with this financial decline.

Fortunately, there are a few things that can help these individuals. For those who are taking primary custody of their children, child support can help cover their expenses. It is possible to negotiate costs for day care, medical insurance and any other significant expenses into a support order. If all qualifications are met, alimony payments can also be requested. This can prove extremely valuable for those who need time to find work or gain an education in order to support their new life.

No matter how it is approached, the dissolution of marriage will likely affect financial status. Dividing one household into two isn’t easy or inexpensive. Those in New York who need support in order to help economically adjust in their post-divorce life can request and negotiate terms that fit their needs. Legal assistance is available to ensure the final settlement addresses all issues and provides fair and balanced terms for both parties.

Source: NBC News, “Divorce Can Mean a Trip Down the Economic Ladder for Women”, Martha C. White, March 7, 2015

Important Information

COVID-19 (Novel Corona Virus)  Update 3-20-2020

By order of Governor Andrew Cuomo, beginning 3-22-2020, all non-essential business in New York state must close their physical offices in response to the rapid rate of positive reported cases of COVID-19 in New York State.

Although this will impact the in office and in person services that LIT can provide, we will still be working remotely from our homes to serve our existing clients and we will continue to serve the public on a remote basis with any new legal matters for which they may need assistance.

We as a nation have overcome great obstacles in the past and although the challenges that lie ahead of us as community, as a state, and as a nation are great, we will overcome them as our resilience as individuals, as a community and as a nation will allow us to prevail.

May all of you and your loved ones be safe and well .

Larkin, Ingrassia & Tepermayster, LLP


Should you have any questions please feel free to contact us at 845-566-5345

For more information regarding the COVID-19 virus please visit any of the following sites:

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