While all divorce cases are inherently complicated, a divorce is especially complicated when the case involves large amounts of assets. When the parties have significant money or property, one of the parties may be motivated to hide assets or try to undervalue them in order to gain an advantage. When this happens, our team of Bronx high net worth divorce lawyers can help you make sure that you receive a divorce judgment that fairly represents your assets and your rights under the law.
In a high net worth divorce in the Bronx, it’s important to carefully build your case in order to receive a fair distribution of the assets. It’s up to the court to divide marital property equitably. Usually, that means giving each party close to half of the marital assets.
However, the division of property in a divorce isn’t always strictly equal. If one of the parties is at fault in the marriage for adultery or cruel and inhumane treatment, the court may award an unequal distribution of property. A unique property distribution may also be appropriate in cases where a party has unique needs that make an unequal division of assets just and equitable.
To receive a fair distribution of property, it’s important to carefully build your case. You must determine what assets are marital. Unless the parties have a prenuptial or postnuptial agreement, the assets that either party earns during the marriage are marital assets and subject to distribution during the divorce. It doesn’t matter if one of the parties works and the other party contributes to maintaining the home, everything earned during the marriage is typically marital property unless an exception applies.
Your Bronx high net worth divorce attorney can work with you to identify and value marital assets. You may work to subpoena records, documents and titles to prove that assets exist. It may be necessary to conduct depositions of relatives or other individuals in order to identify assets that the other party may try to hide. If the other party tries to hide assets, you need to bring evidence to the court of what they’re trying to do. When you gather records of these assets, your attorney can help you go about gathering evidence in a way that’s admissible in court.
It’s up to you to prove the value of an item to the court. If you have real estate, you may need to have it appraised. In high net worth divorce cases, it’s important to review the appraiser’s work carefully because the other side may have a financial expert of their own. Placing a value on the assets is the first step to begin working on how to divide them. An attorney can help you find the right appraiser and work towards admitting an appraisal and other financial records in court.
In a high-asset divorce case, spousal maintenance can be a controversial issue. Determining an appropriate spousal support award depends in part on having an accurate picture of the incomes of the parties. You must also look at each party’s ability to work.
Arriving at an appropriate spousal maintenance and support award in a Bronx high asset divorce case means inquiring into each party’s true income. You may need to subpoena employment records. If one of the parties owns a business, you may need to have a forensic accountant place a fair value on the business. Getting to the bottom of spousal maintenance means looking at the health of the parties, their needs and what it’s honestly and fairly going to take to help the lower-earning spouse become self sufficient.
Knowing the true incomes of the parties is also critical to making an accurate determination of child support. It’s true that child support is based on a formula. However, the formula only creates an accurate result when you have the right figures to use in the formula. It’s important to carefully review any child support calculation for errors and inaccuracies.
A high net worth divorce attorney in the Bronx can help you ensure that your divorce case is handled fairly and correctly. A divorce judgment is hard to undo, so it’s important to get it right the first time. Your experienced lawyer can help guide your case through the courts so that you can receive justice and a fair disposition of your case as quickly as possible.
Todd is a miracle worker who will work tirelessly for you and your family. He is one of the few attorneys i've met - who I earnestly trust to protect me, and who I am happy to refer to our friends and fellow family members. The Spodek Law Group is someone you want on your side, because they will treat you just like family. Todd and his team are available 24/7, and they always answered our calls. Even when we were being irrational, and crazy - they were calm and super helpful. Just call Todd. He gives you a free consultation and is very understanding.- Donna & Robert
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