Why The Start Date Of Your Divorce Is Important?

You are thinking of getting divorced – does it matter what date you start the divorce?  The date your divorce is started is the date that the Summons is filed with the court.  The date you start your divorce will be called the “Date of Commencement” and it is very important.

Here are a few important reasons why the Date of Commencement is important:

• Marital versus Separate Assets: Typically, any assets purchased after the Date of Commencement will be considered your separate asset. In contrast, any assets purchased before the Date of Commencement will be considered a marital asset. Marital assets are usually divided 50/50, while separate assets will usually be 100% yours.

• Marital versus Separate Debts: Similar to assets, debts are also divided into marital debts and separate debts. Any debts you accumulate after the Date of Commencement will be your own separate debt. Conversely, debts accumulated before the Date of Commencement will typically be considered marital debts.

• Retirement and Pension funds: Typically, retirement and pensions funds that are earned prior to the Date of Commencement are shared 50% to each party. However, any retirement or pension rights that are earned after the Date of Commencement are your separate property and go 100% to you.

• Spousal maintenance (alimony): In general terms, the longer you are married, the longer you may have to pay spousal maintenance (also known as alimony). Of course, a difference of a few days will probably not make much of a difference.

David Badanes and the Badanes Law Office can help you in filing for divorce. If you need an experienced divorce attorney on Long Island who can provide real world and practical advice, please contact David Badanes today at 631-239-1702, email at david@dbnylaw.com. We have offices in Northport, Garden City, Brooklyn and Manhattan.

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