divorce-cash-25545550Significant revisions have been made to the guiding laws used to decide both pre- and post-judgement maintenance payments (support) in New York. The new law (Bill A7645/S5678) was officially signed into law by Gov. Andrew Cuomo on September 25, 2015.
“Establishing revised formulas to calculate both the duration and amount of maintenance and spousal support, the new law will hopefully bring more uniformity to judicial decisions,” said Russell I. Marnell, divorce attorney and founder of the Law Offices of Russell I. Marnell, P.C. “It will also make it easier to advise clients with greater confidence as to the amount and duration of the probable final maintenance award.”
Mr. Marnell continued, “The revisions will also simplify equitable distribution since licenses, degrees and enhanced earning capacity are no longer marital assets subject to valuation and distribution.”
To review the bill in full, visit: Bill A7645, or read Joel Stashenko’s comprehensive article in the New York Law Journal.