Former couples confronting the financial consequences of divorce may disagree with Alfred Lord Tennyson’s quip “‘Tis better to have loved and lost than never to have loved at all.”
Some go to extreme measures to avoid or delay personal loss, raiding the marital savings and checking accounts, splurging with family credit cards, even discontinuing health or auto insurance.
In one case pending, a man who earned $218,000 in 2008 stopped paying the mortgage on his family’s home. The house now is in foreclosure, the children are being covered through Medicaid and the wife is receiving food stamps, according to her lawyer, Nathan Van Loon.
Rochester matrimonial attorneys appear to have seen it all.
But a new amendment to New York’s Domestic Relations Law bars divorcing spouses from transferring assets, incurring Read more