If you and your spouse cannot agree on critical divorce terms, you will have to undergo contested divorce proceedings in the presence of a New York court. Here, the court will aid you in finalizing your divorce settlement agreement, which is the legal document that lays out the terms of your divorce, commonly including division of assets, child custody, child support, and alimony. Continue reading to learn how varying divorce terms are determined in a divorce settlement agreement and how an experienced Nassau County contested divorce lawyer at Barrows Levy PLLC can fight on your behalf for what you deserve.
How is the division of assets determined in a divorce settlement agreement?
With New York being an equitable distribution state, the court will determine your asset division depending on your specific circumstances and overall on what they deem as fair. Importantly, “fair” does not necessarily mean a 50/50 split. The specific circumstances that the court will take into consideration read as follows:
- The duration of your marriage.
- The age and health of you and your spouse.
- The standard of living that was established during your marriage.
- The yearly income and earning capacity of you and your spouse.
- The value of the property in question.
Notably, if you and your spouse signed a prenuptial agreement before marriage, its terms will be used to properly conduct asset division.
How are child custody and child support decided in a divorce settlement agreement?
Typically, New York courts will assume that it is in the child’s best interest to have relationships with both parents and thus prefer to give 50/50 child custody responsibilities. This is unless it is deemed that one parent is unfit to care for the child or provide a safe environment to raise them in. With that being said, the court will look at the following factors when deciding on child custody:
- The needs of your child.
- The geographic location of both of your and your spouse’s homes.
- The relationship between you and your spouse with your child.
- The age and the number of children you and your spouse have together.
Additionally, the court will look at the following factors when deciding on child support:
- Your child custody agreement.
- The yearly income and earning capacity of you and your spouse.
- Whether you or your spouse have any debts or liabilities.
How is alimony settled?
Alimony will need to be settled if one spouse earns substantially more than the other. Importantly, this is not intended to be a permanent agreement but instead intended to give the dependent spouse a chance to become financially dependent once again. With this, the court will settle this based on the following:
- Your child custody agreement.
- The yearly income and earning capacity of you and your spouse.
- The duration of your marriage.
- The age and health of you and your spouse.
For more information, contact one of the skilled divorce attorneys in Nassau County today.
CONTACT OUR EXPERIENCED NEW YORK FIRM
If you need a Nassau County lawyer who has significant experience handling family and estate planning matters, contact Barrows Levy PLLC to schedule a consultation with one of our experienced attorneys today.
