Long Island High Net Worth Divorce Attorney

Understanding High Net Worth Divorce

Being involved in a divorce can already be a stressful and financially burdensome process for the spouses involved. Whenever a marriage has a high net worth due to significant assets, bonds, stocks or properties, however, the matters regarding marital asset division can become much more complex. High net worth divorces are complicated by the often widespread finances of spouses, and if not handled correctly can result in damage to the financial state or businesses of one or both spouses.

The primary differences between types of properties in a marriage are those properties defined as either marital property or separate property. Assets acquired before the beginning of a marriage are generally exempt from division with the exception of special circumstances where the marriage significantly affected the value of the property. Marital property is defined as all properties or assets acquired during the marriage, regardless of whether or not they are in the name of one or both spouses.

The division of marital assets is a complicated process involving the calculation of the financial state of each spouse and determining the specific needs of each spouse for continuing life after the divorce. The involvement of substantial assets further complicates matters such as child support, child custody & visitation and spousal support by necessitating a review of contributions by each spouse to the marriage.

With significant financial, emotional and familial contributions, the decisions regarding the division of property can be significantly altered. These differences have a significant impact during divorce proceedings and must be carefully documented and presented.

Address Your High Asset Divorce with an Experienced Attorney

If you are involved in a divorce or realize that you soon may be and are concerned about your finances following the conclusion of the divorce you should acquire legal aid from an experienced family law attorney at our firm. We can assist you in properly presenting your assets for the court, or in making decisions with your spouse regarding the division of your marital assets.