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Resolving disputes creatively

Large purchases in the midst of a divorce

Any type of divorce case in New York can lead to significant stress for those involved. But, high asset divorce cases can be especially complex when hundreds of thousands or even millions of dollars in assets and debts are involved. People who are involved in these types of cases oftentimes feel like they cannot make any financial moves while the divorce case is pending. A recent news article explored the question: "Can you make large purchases in the midst of a divorce case?"

As the article alludes to, the answer to this question, like the answer to many legal questions, is, "it depends." For example, perhaps, the large purchase being contemplated is the purchase of a new home. After all, the soon-to-be ex-spouses will need separate places to live post-divorce, right?

Well, if the parties are in agreement about the expenditure -- even while the divorce case is still pending -- such a large purchase may be acceptable. However, this is often contingent on the purchasing party getting approved for lending, if needed, based on the reality of post-divorce finances.

As the recent article points out though, just because one might be legally allowed to go forward with a large purchase in the midst of a divorce case does not necessarily mean that one should. The article noted that, in many cases, it is simply better to wait until the divorce decree is finalized -- just in case the projected terms of the order change before it is finalized.

High asset divorce cases in New York can be complex, but if the parties do their best to avoid piling on the complications a resolution can usually be reached. Any type of large financial expenditure will be subject to scrutiny.

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