How Are Decisions Made in a Divorce Settlement Agreement?

How Are Decisions Made in a Divorce Settlement Agreement?

With a contested divorce, the New York court will consider any and all relevant contributory factors when finalizing a divorce settlement agreement. This legal document outlines the terms of your divorce, including division of assets, child custody, child support, and alimony. Follow along to learn how one of the proficient Manhattan divorce attorneys at Zimmet Law Group, P.C. can work toward an ideal settlement agreement.

How can decisions on the division of assets be made in a divorce settlement agreement?

As New York is an equitable distribution state, the court will divide your assets equitably, or what is considered fair. Importantly, “fair” does not necessarily mean “equal,” and can settle in a number of different percentages. The following are some common factors that are considered:

  • The duration of the marriage.
  • The age and health of each spouse.
  • The standard of living established during the marriage.
  • The income and earning capacity of each spouse.
  • The value of the property.

How can decisions on child custody and child support be made in a divorce settlement agreement?

The New York court will look at the following factors when finalizing the child custody agreement:

  • Each spouse’s ability to provide for the child.
  • Each spouse’s relationship with the child.
  • Each spouse’s history of domestic violence and abuse.
  • Each spouse’s mental and physical health.
  • Each spouse’s history of alcohol and drug abuse.
  • Each spouse’s work schedule and lifestyle.
  • The health, age, and needs of the child.
  • The child’s preference, if of sufficient age.

With these factors in mind, the court will always judge in the best interest of the child first.

Additionally, the New York Child Support Standards Act (CSSA) is referenced to fairly distribute the financial cost of raising a child between spouses. That is, the basic child support will be determined by taking a percentage of the combined income of each spouse, up to $163,000, and allocating the support between spouses in proportion to each income.

While the CSSA formulates the base of the child support obligation, there are many other factors that come into play. For more information on this, reach out to one of the talented New York City child support attorneys today.

How can decisions on alimony be made?

Firstly, the New York court will follow a formula that calculates the basis of the alimony reward. Then, they will consider various other factors that may impact the decision, such as the following:

  • The duration of the marriage.
  • Both spouses’ age and health.
  • Both spouses’ yearly salaries and earning capacities.
  • Both spouses’ properties.
  • Both spouses’ tax consequences.
  • Both spouses’ child custody arrangements.
  • Both spouses’ child support obligations.

Contact Our New York City Firm

If you require the services of an effective New York City attorney of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, or landlord-tenant law, contact Zimmet Law Group, P.C. today to schedule a consultation.

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