Guiding High-Asset Clients Through Complex Divorce Proceedings

 Filing for divorce can be emotionally difficult for anyone, but it’s especially daunting when you have significant assets that you’re worried about losing in the divorce process. This is why you should hire a skilled high-asset divorce lawyer if you have a high net worth that includes business interests, real estate, trusts, international investments, and other assets that could complicate your divorce.

 At the Law Offices of David Bliven, we understand the importance of protecting your financial future during a high-asset divorce, so you can count on our team to help you navigate family law issues like property division, spousal support, and more.

We’ve spent years crafting effective legal strategies for high-asset clients throughout New York, and we can do the same for you when you hire our law firm. Call today to learn how we can get the best possible outcome for your high-asset divorce case in New York City.

 What Is a High Net-Worth Divorce in New York?

 While any divorce has the potential to be complicated, high-net-worth divorces almost always are because of the sheer number of complex assets they usually involve. In such divorce cases, one or both spouses typically have substantial assets worth millions of dollars. These assets can include:

• Real estate

• Business interests

• Pensions

• Trusts

• Stocks and bonds

• Retirement accounts

• Jewelry, artwork, or classic cars

• High-asset bank accounts

When you have a high net worth due to these and other valuable assets, you have a lot at stake during the divorce process. One seemingly minor oversight or omission could result in you losing millions of dollars in personal or business assets, significantly affecting your financial interests for years. That’s why it’s essential to hire a high-asset divorce lawyer who can protect your assets throughout your divorce case.

 To get the outcome you deserve during the property division step of your high-net-worth divorce, you need an experienced lawyer who can properly appraise and divide your marital property. They should also know how to identify hidden or undervalued assets, as some people hide assets from their spouse during high-net-worth divorces.

If you want to ensure accurate asset valuation so you get the marital property you deserve, call our NYC law firm for help from a skilled high-asset divorce lawyer.

What Family Law Issues Will a High-Asset Divorce Lawyer Handle for You?

High-asset divorce cases often involve many of the same family law issues as other divorce cases, just with additional complexity due to business ownership, substantial assets, and other unique financial circumstances. In general, NYC high-asset divorce attorneys can handle the following family law issues for high net worth clients:

• Asset division

• Spousal support

• Child custody and visitation

• Child support

• Divorce mediation

These legal issues can quickly become complex when there are significant assets at stake, but experienced high-asset divorce attorneys can handle them on your behalf. For example, a high-asset marital estate might require a complicated asset valuation process for any marital property involved.

It could also result in business valuation proceedings, so make sure your high-asset divorce attorneys are prepared to protect your net liquid assets during this step.

Additionally, high net-worth divorces often involve calculations of child support and alimony amounts that exceed the usual limits, which is why it’s best to hire NYC high-asset divorce attorneys who are experienced with such cases. If you’re ready to discuss your legal options with a high-asset divorce lawyer who has successfully handled numerous divorce cases, call our New York law firm today.

What Should You Know About the New York Divorce Process?

 Before filing for divorce, you should consider how the legal process works. First, you need to meet the residency requirements. The simplest way is to prove that you or your spouse has lived in New York for at least two years before filing.

 If this is not the case, then at least one of you must have lived in this state for at least one year, and one of the following must also be true:

• The wedding took place in New York

• You’ve been living in this state together as a married couple

• The grounds for divorce occurred while you and your spouse were living in this state

If you meet one of these requirements, the next step is to file for divorce. This is a no-fault state, so you can file based on an irretrievable breakdown of the marriage for at least six months. As long as you and your spouse can agree on how to handle asset division, custody arrangements, and financial support, you will likely have an uncontested divorce that could be final within months.

If you and your spouse cannot agree on family law issues, you’ll be dealing with a contested divorce, which could take several months or even years to finalize. Similarly, if you file on fault-based grounds, the divorce case could take a long time to conclude since you’ll have to show proof of wrongdoing on the part of your spouse. The possible grounds for divorce in New York include:

• Adultery

• Cruel and inhuman treatment

• Imprisonment for three or more years

• Abandonment for at least one year

• Living apart for at least one year under a formal separation agreement

If you’re unsure if you should pursue a fault-based divorce or the more common no-fault divorce, you should seek legal advice from a knowledgeable attorney.

Experienced family lawyers can help you complete and file the right documents with the court and guide you through any legal challenges that may arise. Call our New York law firm today to speak with a skilled high-asset divorce lawyer about your case.

How Are Assets Divided in NYC High Net-Worth Divorces?

 Property division is among the most complex steps of high-net-worth divorces, since the assets involved could be worth millions of dollars. This is why it’s critical to have a high-net-worth divorce lawyer by your side when dividing your marital assets, especially if you think your spouse might hide assets from you or you’re worried about the asset valuation process.

One detail to know throughout high-net-worth divorce proceedings in New York is that this is an equitable distribution state, so your marital property will be divided fairly based on several factors. This step requires the court to determine which assets are considered marital property and which are separate property.

In general, the marital estate includes any assets and debts acquired during your marriage, whether or not your name is on them. This usually applies to the family home, vacation properties, vehicles, artwork, jewelry, household furnishings, bank accounts, stocks, retirement plans, and business interests.

On the other hand, separate property refers to assets that you or your spouse owned before getting married. It also applies to inheritances or gifts given to one spouse, as well as personal injury awards. Granted, there are some exceptions regarding what’s considered marital property and what’s separate property, especially if you signed a prenuptial agreement.

How a New York High Net Worth Divorce Attorneys Can Help with Equitable Division

A skilled high-asset divorce attorney can guide you through the equitable distribution process to help identify marital assets and ensure accurate asset valuation.

Once you know what assets will undergo equitable distribution proceedings, you might wonder how they should be divided. Courts consider several key factors when dividing marital assets, including:

• Each spouse’s current income and earning capacity

• Each spouse’s health and age

• The length of the marriage

• The standard of living during the marriage

• Each spouse’s education and job skills

• How each spouse contributed to the marriage, whether through finances or homemaking

• The financial circumstances of each spouse during the divorce

• Any custody arrangements

• The tax implications of the proposed equitable distribution plan

• Any prenuptial agreements in place 

If you have questions about how the equitable distribution process will go or have specific asset protection concerns – such as that your spouse is hiding assets – you should contact our trusted divorce law firm.

Our high-asset divorce lawyer will guide you through the legal system throughout your high-net-worth divorce proceedings, ensuring you understand the details regarding equitable distribution, business valuation, marital asset protection, and more. Call our NYC divorce law office to start your case.

Will You Owe Spousal Support After Your NYC High-Asset Divorce?

One family law issue you might have to consider is spousal support. Also called spousal maintenance or alimony, this is typically ordered when one spouse earns significantly less than the other, making it difficult for them to pay their bills after the divorce.

Your high-asset divorce lawyer will let you know if you’re likely to pay or receive spousal maintenance, and if so, what type and amount to expect. There are two main types in New York, including:

• Temporary maintenance: Also called pendente lite, this is paid during the divorce proceedings and ends when the divorce is finalized

• Post-divorce maintenance: This begins once the divorce is final and can last for years, usually until the spouse receiving alimony can support themselves or remarries

The amount of financial support involved in your high-asset divorce will depend on several factors, including your income, your spouse’s income, the length of your marriage, and the earning capacity of the person receiving payments. If you’re concerned about this issue as your high-net-worth divorce case begins, call our NYC divorce law office for legal help.

What Legal Issues Must Be Resolved If You and Your Spouse Have Children?

If you and your spouse have minor children, your divorce can only be finalized after you agree on how to handle child custody, complex financial issues, and financial support. Keep in mind that family courts encourage both parents to be involved in raising and financially supporting their children, so you should expect to share parenting time and expenses unless there are extenuating circumstances.

Parents in New York must make decisions regarding physical custody and legal custody. Joint physical custody means the child spends time with both parents, often living with one parent for part of the week or month and with the other parent for the rest of the time.

Suppose your child’s other parent is unable to or uninterested in sharing the daily responsibilities of caring for your child. In that case, you can pursue sole physical custody so your child only lives with you.

The other type of custody to work out is legal custody, which gives parents the right to make decisions about the child’s upbringing, such as the school they’ll attend and the medical care they’ll receive. With joint legal custody, the parents can make these decisions together, while sole legal custody allows only one parent to make these choices.

Regardless of how your custody case turns out, you’ll also have to determine who pays child support and how much it will be. In most cases, the parent who doesn’t live with the child and sees them the least must pay child support to help cover the costs of food, housing, clothing, medical care, and other expenses.

While the court uses a formula to calculate a fair amount, this often doesn’t apply to high-net-worth divorces, where the judge might order higher payments to account for the standard of living the child is used to. A NYC high-net-worth divorce lawyer can tell you the amount of financial support to expect in your case, so call our firm today.

How Can a New York City High Net-Worth Divorce Lawyer Assist You?

High-net-worth divorces can be complicated and stressful since there is so much at stake, so it’s essential to have a skilled high-asset divorce attorney by your side from start to finish. That’s why you should call the Law Offices of David Bliven for legal representation throughout your high-net-worth divorce.

Whether you’re concerned your spouse will hide assets or you want to know the available grounds for divorce before filing divorce papers, our compassionate team can assist you. If you’re ready to seek legal advice on protecting assets you care about during a high net-worth divorce, call 914-468-0968 today for a consultation with a skilled New York high net-worth divorce attorney.

A knowledgeable attorney will help you navigate the complex legal principles involved in high net worth divorces, ensuring that all substantial assets, including investment accounts, business interests, and investment properties, are properly identified and valued.

They can coordinate with financial experts such as forensic accountants and financial analysts to uncover any hidden or offshore accounts that might affect the equitable division of marital property.

Your lawyer will also guide you through the unique challenges high net worth couples face, including understanding the tax consequences of asset division and spousal maintenance. They will work to maintain your family’s wealth and minimize disruption to your life and the lives of your children throughout the divorce process.

Furthermore, experienced professionals can assist in reviewing or drafting prenuptial and postnuptial agreements, which are critical tools in protecting assets and clarifying expectations in high net worth divorces. By addressing these matters early, you can avoid common mistakes and contentious matters that often prolong divorce proceedings.

Ultimately, having a dedicated New York high net worth divorce attorney ensures that your interests are vigorously protected, and the legal process is managed efficiently, allowing you to focus on moving forward with your life.