New York City Business Law Blog

Money disputes destroy high asset marriages

When you and your spouse married, you likely had plans for your future. Perhaps you both had good-paying jobs, or you were working your way up the ladder of success. As your income grew, you may have expected to avoid the common topic many spouses argue about: money. However, having more money does not necessarily eliminate problems with it.

You may be surprised to know that New York couples with high assets have just as many disputes over money as those who earn very little. Often, it is not the lack of money that causes strife between spouses. In many cases, and perhaps in yours, it is a discrepancy in philosophies about the household finances.

Embracing your new role with your children after divorce

If you and your spouse get divorced, your role with your children may change. It's important to embrace this and to think about how you can be the best possible parent that you can be in this new situation.

That's what one man learned when he got divorced. He fought very hard to get sole custody of his children, but he did not win the case. He had to become what he called a "part-time dad." He could no longer be the type of parent he wanted to be, and that decision was out of his hands.

What to look for in a business partner

The first step toward creating a successful business is to choose the right business partner. A wrong choice at this juncture can put the entire enterprise in jeopardy. Starting a business is always difficult, and the survival rate for new businesses is not nearly as high as you likely wish that it was. Having the right partner gives you an edge and helps set you up for future success. It can also help you avoid some difficult legal situations in the future.

So, how do you find this type of partner? Here are a few things to look for:

  • Someone who offers a unique skill, preferably something that you do not have on your own. You and your business partner should both complement one another so that the business is strongest when you work together.
  • Someone who offers financial stability and who will contribute to the business the same way that you will. While it may not be perfectly equal, be wary of a partner who expects you to take all of the financial risks.
  • Someone who shares your vision and your spirit. You do not want someone who isn't engaged and excited about the company, for instance, or someone who has a very different vision of what the company can become. You need to work together on this.
  • Someone who respects you and the values what you bring to the table. An unhealthy relationship can turn toxic as the company grows.

Most divorces impact happy couples

When you think about divorce, you probably think about an unhappy couple that argues often. You think of stress and tension at home. You imagine one person abusing the other or cheating on them. You think of these extremes because they're often what you see in movies and TV shows.

These things absolutely do happen, but they are not the norm. In fact, in one study, researchers asked people how they felt a year before they got divorced. They did the study for years, talking with couples who were still married repeatedly so that they could compare the results when those couples split up.

6 important questions about workplace sexual harassment

If you've suffered from sexual harassment in the workplace, you may be looking into your legal options. You know that what happened to you was unfair, unjust and illegal. You want to know what to do.

In the process of defining your case, here are six important questions to ask. The answers will help define how things play out moving forward:

  1. How often did this conduct happen? Was it frequent, or was it more of a one-time event?
  2. Did you suffer from verbal harassment, physical harassment or both at the same time?
  3. Were you the only person who got harassed at work, or is this something that happened to multiple employees?
  4. Was the person who harassed you acting in an aggressive and hostile manner, or was it more about creating an offensive and toxic workplace? For instance, physical contact is usually more hostile and aggressive, while hanging up harassing signs or pictures may be more passive -- though still offensive and uncalled for.
  5. Was the person who harassed you a supervisor or a co-worker who holds the same basic position that you do?
  6. Was only one person responsible for harassing you, or were there multiple people who all joined in?

Financial preparations useful in high-asset divorce

As someone with a considerable amount of wealth, you likely understand the importance of protecting your assets. You may have many safeguards in place relating to your business or other important financial endeavors, but you may not have fully planned for the effects one event could have: divorce.

Now that you and your spouse have decided to end your marriage, you may have concerns about how New York asset division laws will affect your current financial status. Having these concerns is wise because the outcomes of your divorce could affect your finances in significant ways.

What does your wedding stress tell you about divorce?

Wondering if it's likely that your spouse will file for divorce? One key thing to consider is simply how they treated you on your wedding day.

Wedding photographers, who have a front-row seat to all of these interactions, often say that couples who do not act in a respectful manner toward each other are those who will eventually end up going into court for a divorce. Even if they grit their teeth and get through the wedding day, the way that they do it says a lot about their future.

What types of people launch their own companies?

Deciding to start your own company takes more than an idea or the financial means to make it happen. You also need to have the right personality type.

While there are exceptions to this rule, as with most others, people who succeed in business tend to share a lot of personality traits. Experts call these the "Big Five" personality dimensions. They are:

  1. Extraversion: Whether or not you want to be the focus of attention in social settings
  2. Openness: Whether or not you're open to new ideas and new experiences
  3. Agreeableness: If you want other people to like you
  4. Conscientiousness: If you are willing to follow rules and work hard
  5. Neuroticism: Your emotional stability or lack thereof

How long you stay in school impacts divorce odds

People often make the mistake of looking at divorce odds as if they are exactly the same for everyone. For instance, if the divorce rate is really around 50 percent, and you have two couples in a room together, you know that one of those couples will split up.

This makes it feel random, as if you're just hoping your marriage works in the face of long odds. That's not an accurate representation. The reality is that many different factors play into it, making the odds different for everyone.

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