Moving Forward: Divorce & Family Law with Andrew Wood

Episode Summary: In this episode, Andrew Wood dives into the complexities of property division in New York divorces. He explains the differences between marital and separate property, the challenges with asset classification, and how courts determine fair distribution. Listeners gain valuable insights into pre-divorce steps, debt division, business valuation, and maintaining financial stability post-settlement. Key Timestamps: 00:00 – Episode intro and overview 00:35 – Difference between equitable and equal distribution 01:15 – Marital property vs separate property 02:00 – Why the distinction matters 02:45 – Assets that cause confusion (retirement, real estate, investments) 04:20 – Court decisions when spouses disagree 05:00 – Preparing documents and lists to ease property division 06:00 – Dividing debts like credit cards and mortgages 07:20 – Valuing and dividing a business 10:00 – Distributive awards and paying for marital assets 11:15 – Uncovering hidden assets 12:00 – Advice on realistic expectations and protecting financial stability 13:00 – Outro and resources About the Show: *Moving Forward* is a podcast hosted by Andrew Wood, a seasoned family and matrimonial attorney in Albany, New York. The show provides practical insights and guidance on navigating divorce, family law, and financial complexities during life's transitions.

Episode Summary: In this episode, Andrew Wood, a seasoned family and matrimonial attorney, delves into the intricacies of child and spousal support in New York. He explains the differences between child support and spousal maintenance, outlines key factors considered in calculating support payments, and sheds light on common misconceptions. Wood also discusses enforcement options, modification criteria, and offers valuable advice on setting realistic financial expectations. Key Timestamps: 00:00 – Episode intro and overview 00:35 – Difference between child support and spousal support 02:15 – Key factors in calculating child support 03:40 – Determining income for irregular earners 04:20 – Spousal maintenance and income discrepancies 05:00 – Duration of spousal maintenance by marriage length 06:00 – Court discretion and income caps 07:00 – Misconceptions about child support and 50/50 custody 08:15 – How child support payments are used 09:10 – Enforcement options for unpaid support 10:00 – Modifying support orders 11:20 – Child support vs spousal support modification 12:20 – Managing client expectations on support orders 13:30 – Setting realistic financial expectations from the start 14:50 – Outro and resources About the Show: *Moving Forward* is a podcast series hosted by legal professionals that explores various aspects of family and matrimonial law. Providing insightful guidance and expert advice, the show aims to educate and empower individuals navigating complex legal matters concerning divorce, child support, and spousal maintenance.