Katharine McPhee’s Finalizes Divorce from Costas

American actress, singer, and songwriter, Katharine McPhee’s divorce to Nick Costas has been finalized but it seems like it is going to cost the star a tidy fortune, as reported by nydailynews.com. Costas, who was her manager, is set to walk away with $102,616 as part of the rights to songs they recorded together.

But that may not seem a tall figure when compared with the $400,000 she may have to pay every year as spousal support. Her former beau is also said to be eligible to receive half of McPhee’s income from her work on ‘Smash’. Wow! This is where these feminist divorce laws work in reverse. Any Bronx, NY divorce lawyer would be happy with that outcome!

$400,000 per year! That is a lot of art, furniture, ATVs, and shoes! Who makes these laws up?

Reports suggest that McPhee contested the division since she and Costas separated in March 2013 but Costas was adamant that they did so in 2014. However, her estranged husband won’t have any rights from what she earned from tours and live performances after their separation. She also gets to retain her 2012 Mercedes Benz SUV while Costas will get an equal slice of what McPhee earned from the pilot episode of her CBS show. The pair was married in 2008 and only announced their divorce in May 2014 after living separately for a year.

You have to make the right choices in life, certainly when the stakes are so high. This is when a pre-marriage class just makes so much sense.

Division of Property in New York Divorces

Division of assets and property are often contentious issues in a divorce and Bronx, NY divorce attorneys have been through the thick of it. New York is an equitable distribution state where marital property is divided between divorcing couples in a way that is fair or equitable. However, it is important to understand that the court decides what is fair or equitable based on several factors. This includes the contribution of each spouse to the marriage.

Why does one person deserve so much money? Where does that even come from? What if they did not even treat their partner that well during the marriage?

Divorce lawyers in New York also caution that a fair distribution needn’t have to be equal while the court will only intervene when there is a property dispute. Both spouses will have ample opportunities to decide how to divide property between them while the court will accept a written separation agreement on the final division of property.

If your marriage is blowing up, you need legal help. You do not want this to spill over and affect other aspects of your life even though it probably already has. You do not want to lose too much. You have the right to legal help and this is where this site comes into the picture: 

Divorce.USAttorneys.com. You need to call a divorce lawyer and time is of the essence.

Factors Considered in Division of Property

Divorce lawyers in the Bronx, NY know that some of the types of property that are divided include the family home, jewelry, income, and benefits. Debts are also considered in the equation where either both or one of the spouses will be held liable to pay debts. Some of the important factors considered in the division of property and assets include age, income, future earning potential, length of the marriage, and contribution of each spouse, to name a few.

However, it is important to understand that the court will treat even a spouse’s contribution as a homemaker equally as monetary contributions. Divorce lawyers explain that the parent having custody of the children could have a better chance of retaining the family home or the right to live there and raise the children.

For the most part, divorce and family law issues can be fraught with tension. This could get even worse when it comes to issues of child custody and support, alimony, and property division. A divorce legal representative can help you navigate through the most complex and sensitive matters. So if you find yourself in a situation where you need help with your divorce, make sure to consult New York divorce lawyer as soon as possible. Your morale may be low right now, it is time to enlist some help.