Love is free. A divorce will cost you. This is especially the case if the estate is worth a considerable amount of money. Although you are under the utmost strain and stress, and the emotional difficulty of the divorce is taking its toll, you must look out for your interests.
Marriage is legally a joining together of persons and assets. You have had no reason until now to think of it such dry and technical terms, but you must begin to do so. It is important that you start to plan your post-nuptial future. Part of that is thinking deeply about money, capital, investments, property, and other assets.
A great deal is at stake in a high net worth divorce. The very moment that you have made up your mind to divorce your spouse or that you discover they are in the process of serving you with papers you should hire a divorce lawyer who specializes in high net worth cases.
Particular facts vary, but the general facts of having married someone who is worth a great deal of money are as follows.
-they will have a rich and diverse portfolio of investments and assets that form the source of their wealth
-they are likely to have controlling stakes in major businesses, and may have put in protections to prevent you from seizing them
-they will have all kinds of complicated tax instruments to hide money
-if they have children from a previous marriage, they may have set up trusts and other instruments to protect their capital
Even if you married your ex-spouse without a prenuptial agreement you still have a great deal of work to do to get what is fair. In most instances, when either party has sued for divorce a judge will issue an order that bars both you and your ex from making any major purchases over a certain dollar amount. The same order also prevents the movement or conversion of assets. This is done so that your ex cannot scramble to hide and obscure assets from you.
Once this suspension is put into place, the procedure for dividing the marital assets are as follows.
-asset declaration: this is a comprehensive outline of any and all property and assets
-asset valuation: this is a net worth valuation by a professional of assets and property
-marital property: this is the process whereby the assets acquired after the marriage is declared as marital property and subject to equitable distribution, including debt.
If there is no prenuptial agreement, the assets that the two of you came into the marriage with are subject to equitable distribution.
The hardest part of getting through these proceedings successfully is actually locating and evaluating all of the assets. Divorce does strange things to people. The person you thought you knew may become unrecognizable and may make your every attempt to get what is fair and reasonable a nightmare.
Working with a high net worth divorce lawyer will save you a tremendous amount of frustration. An experienced lawyer specializing in this field will know the best forensic accountants in the business. The entire job of these professionals is to follow the money trails to their various sources. If your ex is hiding something, the best forensic accountants will find it and bring it to the attention of your lawyer, who will then be able to force a disclosure.
It may also be the case that your former significant other has been planning for years to divorce you. Part of their strategy may have been to tie things up in business interests that look unassailable. You should know that there is no such thing, and that every stock option, investment, tax credit, and company asset that they own is subject to equal distribution.
As someone who has been married to a wealthy person for a long time, you have become accustomed to a certain lifestyle. The divorce should not put your material security and financial future in jeopardy. It is right that you have the means to carry on living as you have been. Working with the right lawyer will ensure that you do.
A high net worth divorce lawyer is trained to gather the facts on the marital and separate assets possessed by you and your ex; they will employ every resource at their disposal to verify that the every cent is accounted for and every asset and scrap of property is properly evaluated. They will then use logic, law, and the circumstances of your divorce to get you the settlement you deserve.
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
85 Broad Street, 30th Floor
New York, NY 10005
35-37 36th St,
Astoria, NY 11106
195 Montague St.
Brooklyn, NY 11201