New York

High Net Worth Divorce

Multiple Properties 

Businesses

Investment Portfolios

Long Island
High Net Worth Divorce

High net worth divorces are those wherein the parties own substantial assets, such as:

  • Multiple homes or investment properties
  • Businesses
  • Investment portfolios
  • Trust funds
  • Royalties
  • Passive income
  • Works of art
  • Jewelry
  • Other collections

Divorce in High Income Families

It goes without saying that the more assets you have, the more there is to divide. However, this factor alone often complicates a high net worth divorce. If valuation were a straightforward and simple process, spouses could feel more certain about getting their lion’s share. Unfortunately, it is often not the case.

Take stock portfolios, for example. Stock values often fluctuate, and some stocks carry high risk, which can make valuation challenging.

The complexity of untangling the distribution (or “split”) between these assets fairly — and often the debts as well — requires an attorney with a mind for detail, who understands the need for professional appraisers and can properly assess and counter-balance the economics involved.

I have substantial experience in high net worth divorces, and my clients can feel confident that the detailed mathematical work necessary to evaluating their assets accurately will be treated with commensurate methodology and discretion.

 

Child Support and Alimony Deviations from Standard Guidelines

Despite the income caps on child support in standard child support guidelines, courts have discretion and can deviate from standard guidelines in high net worth cases. Courts have the leeway to consider the lifestyle that the child or the spouse would have had if the couple had not divorced. Whenever possible, courts make the moneyed parent provide support that would maintain the child or ex-spouse in a lifestyle equivalent to what existed during the marriage.

Maintaining Control Over the Outcome

Many successful business people are used to running the show or standing at the helm of their business, and this is often an underlying factor in their success. It can be disconcerting to find yourself in a courtroom, having to relinquish control to a judge. Litigation can open the door to court decisions that are not under your control, and possibly, not in your favor. Even worse, it may result in decisions that do not protect assets or result in fair market valuation.

 

Maintaining Privacy 

Dealing with property division disputes in court is the last thing many high net worth individuals want. Keeping your finances private means keeping financial matters out of the courtroom. When your attorneys can negotiate a fair out-of-court settlement, it is definitely to your advantage, not only in terms of privacy and the outcome, but also from a cost savings perspective.

Protecting the Value of Your Investments

Protecting the value of your investments and assets is no doubt an ingrained concern. Financial experts can apprise you of tax implications for income or gains that arise through property division. Marital liabilities can also result in significant debt burden, which is something you will want to avoid.

Unless opposing counsel is unreasonable, you can often stay out of court. You should seek out high net worth divorce attorneys who have your best interests at heart and who will work to help you protect your assets.

If you do end up in court, you will want a competent, articulate and client-focused attorney at your side.

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High Net Worth Divorce

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Huntington Station, New York 11746
631.265.4494
Serving Nassau, Suffolk, and the New York City Area.

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