Westchester County High Net Worth Divorce Attorney

Key Issues Handled by High Asset Divorce Attorneys

Some of the particular property division issues that may arise in a high asset divorce in New York may include:

• Businesses
• Stock options
• Out-of-state property
• Private practices
• Professional licenses
• Real estate
• Trusts
• IRAs
• 401(k)
• Accounts

Not all of these will necessarily be qualified as marital property. In addition to the matters above, your Westchester County high asset divorce attorney will also be able to assist you with the following standard divorce matters:

• Alimony
• Child support
• Child custody
• Visitation

As your Westchester County high asset divorce lawyers, we can help to ensure that the correct items are subject to equitable distribution. Your attorney can also help you whether you are seeking spousal maintenance or may be required to pay spousal maintenance, in order to ensure that this is a fair amount.

Utilizing Investigative Resources for Financial Disputes

At Friedman & Friedman PLLC, Attorneys at Law, our experience with high net worth divorces in Westchester County has equipped us with the experience and resources to uncover (or protect) your most valuable assets. We’ve helped business owners, trustees, and other high-value asset holders conduct financial investigations, forensic accounting, business valuations, and other procedures to audit everything your spouse owns—line by line.

In cases where one spouse has committed adultery, we can uncover any assets that have gone from your community property in service of the extramarital affair. Uncovering the wrongful loss of assets can entitle our clients to more spousal support, a larger settlement, or release them from the obligation to pay alimony.

Thorough financial investigation creates better outcomes for high net worth individuals—turn to our high net worth divorce attorneys for the detail-oriented, aggressive representation your case requires.

Effective Strategies for Dividing Property in High-Asset Divorce

Divorce matters are often complex but are especially so in high-asset divorces. What seems to be a simple classification of separate vs. marital property is complicated by the types of assets you have and how they were used. New York is an equitable distribution state, making it crucial to correctly determine asset classification and to fight for what is your fair share.

Inheritance, generally considered separate property, can be argued to be marital property if any inheritance was used for joint purchases like a vacation home.

Other examples of assets include the following:

• Income from residential rental properties
• Income from commercial real estate holdings
• Upcoming bonuses
• Pensions and retirement benefits
• Stocks and stock options
• Equity compensation

Our skilled attorneys can make sure all assets are appraised at fair market value. We’ll also find hidden assets and uncover evidence of other financial impropriety. Both measures help to ensure that you are not leaving money on the table.

Calculating Spousal Support in High-Asset Divorce

New York statutes § 236-B(5-a) & (6) outline how spousal maintenance is calculated. This formula is usually only applicable for divorces that are not high net worth. The formula is tied to the consumer price index. In 2021, the income cap for the higher earner is $192,000. Most high-net-worth couples exceed that cap.

A judge will also consider other aspects of the individuals and the marriage when determining spousal maintenance including the following:

• The age and health of the parties
• Their earning capacity
• The standard of living established during the marriage
• The homemaking, parenting, and earning contributions of the receiving spouse

These considerations, combined with earning over the cap, lead many high-net couples to attempt to reach an agreement with the help of an experienced attorney. Otherwise, a judge has the discretion to determine the spousal maintenance amount and its duration. When cases end up before a judge, a strong advocate can argue the pertinent facts to maximize the spousal award.

Your Trusted Lawyer for High Net-Worth Divorce in Westchester County, NY

Without skilled representation, it is easy to be taken advantage of in any divorce action, particularly a high net worth divorce. Our Westchester County high asset divorce firm can help. We welcome you to contact our firm so you can discuss your options with an experienced legal professional.

Listen to Attorney Andrea Friedman Discuss High Net Worth Divorce

Need a skilled high net-worth divorce attorney in Westchester County? Contact Friedman & Friedman PLLC, Attorneys at Law today at (914) 873-4410.