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Last Updated on: 1st August 2023, 12:41 am
Going through a divorce is tough no matter what. But when millions of dollars in assets and property are on the line, the stakes become even higher. This is why having an experienced NYC high net worth divorce attorney by your side is critical.
In this article, I’ll share:
If you’re facing divorce with significant assets involved, keep reading to learn why legal expertise can make all the difference in the outcome.
For the ultra-wealthy, divorce goes beyond simply splitting up houses, cars, and bank accounts. We could be talking about:
With so much on the line, the divorce process gets extremely complicated. Each asset needs to be valued properly. The tax implications of dividing property must be considered. And without legal counsel well-versed in handling high-value marital estates, you could end up losing out big time.
An experienced attorney knows how to appraise assets, draft ironclad agreements, argue for equitable division, and generally get you the best possible settlement. Especially with so much wealth involved, you need that expertise in your corner.
So exactly what can an attorney do for you during a high net worth divorce? Here are some of the most critical ways skilled legal counsel makes a difference:
Asset Valuation – Proper appraisals must be obtained to determine the true current value of all marital property. Complex assets like businesses, equity stakes, real estate, and investments require expert assessment. An attorney works with financial professionals to make this happen.
Tax Strategy – Dividing assets has significant tax implications that must be planned for. Certain transfers and sales can leave one spouse with a massive tax bill. An attorney considers this and plans division to minimize taxation.
Settlement Negotiation – There’s usually significant negotiation involved in reaching an acceptable settlement. Your lawyer aggressively negotiates on your behalf to achieve the most favorable terms.
Court Litigation – If settlement talks stall, skilled litigators aren’t afraid to take things to court. They’ll tenaciously argue to secure your financial future during the divorce trial.
Wealth Preservation – Beyond the divorce, an attorney can advise you on restructuring assets/accounts to preserve wealth long-term. This could involve trusts, investments, tax planning, and more.
With so much complexity surrounding high net worth divorce, going it alone without representation is extremely risky. Don’t assume your spouse’s attorney will be looking out for your best interests too. Get the expert counsel you need to protect yourself.
Not every lawyer has in-depth experience handling high net worth divorce. When seeking counsel, you want someone with a proven track record of success. Here are key questions to ask:
Dig into the attorney’s background, qualifications, past case results, and overall expertise. Their experience will make a big difference in the outcome you achieve.
Once you’ve secured counsel, what happens next? Here’s a general timeline of the divorce litigation process:
Financial Documentation – You and your spouse must provide documentation of all marital assets and debts. Tax returns, bank/brokerage statements, real estate appraisals, and more.
Discovery & Interrogatories – Your lawyer will send questions demanding details about assets, employment, expenses, and more. You’ll assist in crafting thorough responses.
Asset Appraisals – Your attorney will work with financial professionals to obtain certified valuations of the marital estate. Expect detailed reports on real estate, businesses, investments, etc.
Settlement Discussions – With valuations complete, attorneys for both sides will negotiate division of property. Expect lots of back-and-forth before an agreement is reached.
Court Hearings – Once basic terms are agreed to, the settlement goes before a judge for approval. Custody issues may also require court intervention.
Final Judgment – The court enters a final binding order on asset division, alimony, child support, and other settlement terms.
Asset Transfer – The division of property takes place according to the settlement agreement and court judgment.
Don’t go it alone through this complex process if millions of dollars hang in the balance. Get the counsel you need to successfully navigate high net worth divorce.
Divorce leaves lives shattered and forever changed. Don’t let it wreak financial devastation too. With so much at stake, skilled legal counsel could mean the difference between prosperity and ruin.
If you’re facing high net worth divorce in New York, reach out for a free case assessment today at 212-300-5196. I’ve helped countless clients protect their interests when big money’s on the line. Let me put that experience to work for you too.
Call now or visit https://www.nyccriminalattorneys.com to learn more about how I can help. Protect your hard-earned wealth and achieve the best possible outcome. You deserve peace of mind and financial security after divorce – let me fight to make it happen.
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