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Financial Planning

How to Handle Pre-Divorce Debt and Financial Obligations in New York Divorce Cases

Introduction to Pre-Divorce DebtPre-divorce debt refers to any financial obligations that either spouse incurs prior to the initiation of divorce proceedings. This can include a range of liabilities such as credit card debt, personal loans, mortgages, and other...

How Divorce Affects College Savings Plans (529 Plans) in New York

Introduction to 529 College Savings Plans529 college savings plans are tax-advantaged investment vehicles designed to encourage saving for future education expenses, primarily for higher education. These plans are named after Section 529 of the Internal Revenue Code,...

Joint Bank Accounts and Divorce in New York: What Happens to Shared Finances?

Introduction to Joint Finances in MarriageIn most marriages, managing finances collaboratively is a standard practice that serves to strengthen the partnership. Shared finances are often facilitated through joint bank accounts and credit cards, which allow couples to...

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