Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.
Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.
Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.
Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.
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Last Updated on: 15th October 2023, 09:32 am
Going through a divorce is tough no matter what, but when high net worth assets are involved, things can get even messier. As a New Yorker with significant marital property, you need an experienced NYC divorce attorney on your side who understands all the unique challenges these cases bring.
I’m here to walk you through everything you need to know about high net worth divorce in NYC. Consider me your guide through this difficult process. I may not be a lawyer myself, but I’ve done a ton of research and talked to the top attorneys in the city. I’ll share their advice on protecting your assets, dealing with complex finances, working with forensic accountants, avoiding common pitfalls, and more.
Ready to dive in? Here we go.
First things first – what counts as “high net worth” when it comes to divorce in New York? According to the experts, we’re generally talking about marital estates valued at $5 million or more.
But the dollar amount alone doesn’t tell the whole story. These divorces are also complicated by things like family businesses, professional practices, real estate investments, executive compensation packages, stock options, and private equity.
The more complex the finances, the more you need a specialist who understands all the unique issues and knows how to value these assets. We’ll dig into why finding the right lawyer is so critical in a moment.
Divorces involving major assets and complex finances require a different approach than typical cases. Here are some of the unique challenges that come up:
The bottom line? Getting divorced is never fun, but with millions on the line – the process can be downright brutal without the right legal representation. Don’t go it alone.
So how do you find a lawyer equipped to handle all the unique aspects of a high net worth divorce in New York? Here are the key credentials and qualifications to look for:
Finding the right lawyer takes time and diligent research, but it’s absolutely worth the effort. Don’t leave your financial future to chance. Vet your options thoroughly.
Once you’ve found qualified legal counsel, what strategies should you employ to protect your assets in a high net worth divorce? Here are a few key tactics top NYC divorce lawyers recommend:
Getting divorced is inevitably painful emotionally. With the right legal advice, you can at least minimize the financial sting.
Untangling complex finances presents one of the biggest challenges in high net worth divorce. Investment portfolios, real estate holdings, family businesses, executive perks, stock options – it’s enough to make your head spin!
Here are some tips from the NYC experts on navigating the money maze:
Yes, it’s a financial maze, but with a great lawyer, forensic accountant, and other pros on your team, you’ll make it through in one piece.
Speaking of forensic accountants, why are they so vital to the high net worth divorce process? Two key reasons:
1. Uncovering hidden assets – Forensic accountants have serious sleuthing skills. They can dig deep into records and financial statements to find assets a spouse may have concealed. No stone goes unturned.
2. Providing valuation – With so many complex assets in play, forensic accountants are invaluable in providing accurate valuations. They prepare detailed reports courts rely on to determine equitable distribution.
Top NYC divorce lawyers almost always work hand-in-hand with forensic accountants in high asset cases. Some things forensic accountants can help uncover and value include:
Forensic accountants are worth their weight in gold when navigating high net worth divorce. Their skills can literally make or break your case.
There’s no sugarcoating it – high net worth divorce is expensive. You can expect to pay a premium for specialized legal representation and ancillary services like forensic accounting. Here are some ballpark figures:
The monetary costs of high net worth divorce can be steep. But the emotional turmoil and damage to your net worth from a bad settlement? Those costs are far greater.
Through my research, I asked top NYC divorce attorneys about the most common mistakes they see high net worth individuals make. Here are a few blunders to avoid at all costs:
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