Custody Dispute Reaches International Levels
September 04, 2003
Courts in Texas and New York became embroiled in an international child custody squabble in which New York's Appellate Division, Third Department, awarded sole custody to the mother, rejecting the lower court, the law guardian, the wishes of the children and a prior custody agreement.
Selling the Marital Residence: What Are the Tax Implications?
September 04, 2003
The marital residence is frequently the most valuable asset found in most divorce cases. Issues of valuation, possession and sale will all involve tax implications. The residence may include a houseboat, a house trailer or the house or apartment that the taxpayer is entitled to occupy as a tenant-stockholder in a cooperative housing corporation. It does not include personal property that is not a fixture. Treas.Reg. '1.121-1(b). Any gain represented by the difference between the present market value or sales price and the adjusted basis will have tax consequences.
Litigation
September 03, 2003
Recent cases of importance to your practice.
Keep Your Client 'On Board!'
September 03, 2003
As lawyers, we spend a lot of time keeping ourselves current on the law, attending continuing legal education programs, and learning how to deal with experts. Sometimes, in the middle of our frenzied search for a latest case and the latest technique, we need to get back to the basics. One of the most important basics about which we should remind ourselves is the need for good client communication.
The Effect of Deflation on Marital Property
September 01, 2003
With the specter of deflation (falling prices) haunting the U.S. economy, the consequences and problems of the inflationary eras of the 1970s and 1980s may be as far from the minds of matrimonial practitioners as it is from the thoughts of central bankers. Nevertheless, if you have matrimonial clients from long-term marriages, an awareness and understanding of the meaning of inflation may help you obtain a more equitable distribution of marital property for those who brought separate property into the marriage.
Family Limited Partnerships
September 01, 2003
<b><i>Attacking the Entity to Get Your Client a Fair Settlement</i></b> Family limited partnerships and limited liability companies (collectively, FLPs) are ubiquitous in estate and asset protection planning. The odds are that you will encounter one or more FLPs in discovery with increasing frequency. The question is, what do they mean to the divorce negotiations and settlement, and how can you be certain that your client gets a fair deal?
Litigation
September 01, 2003
Cases of importance to your practice.
Divorcing a Jailed Spouse
September 01, 2003
There is no question that under New York law, having a jailed spouse is grounds for divorce, but one appeals court is divided on how much time a free spouse has to act on that option.
