High net worth divorces require the assistance of an exceptionally experienced attorney. Divorces on their own are complicated, but when you add in the additional income, assets, property, and other complicated estate matters, they can become completely overwhelming. If you are seeking a divorce and you or your spouse is of high net worth, contact New York City High Net Worth Divorce Attorney Vivien I. Stark today. She has over 30 years of experience in family law and divorce in New York City. She specializes in several areas of divorce law, including high net worth divorces. Don’t trust your valuable estate to an inexperienced attorney; to do so could be disastrous.In a typical divorce, the spouses will need to decide upon the division of property and assets. The state of New York divides assets according to “equitable distribution,” which does not necessarily mean an even split. In high net worth divorce cases, it is far more common for the split to be uneven. Because these types of divorces involve a substantial amount of property and assets to be divided fairly, it is imperative to seek experienced legal counsel. When dividing property and assets, the procedures are as follows:
Asset declaration. A comprehensive outline of any and all property and assets.
Asset valuation. In high net worth divorce cases, assets and property will need to be evaluated by a professional to determine an accurate value.
Marital property. Any property or assets acquired after the marriage (with the exception of third party gifts as well as inheritances and personal injury awards) will be declared as marital property and subject to equitable distribution, including debt.
Separate property. Property and assets acquired before the marriage are considered separate property and return to the original owner. However, if there is no prenuptial agreement, the appreciation of the separate property may be subject to equitable distribution.
Other assets. Any other non-typical assets, like investments, stock options, retirement assets, tax obligations, and business assets, will need to be defined and allocated.
Asset Valuation, Distribution, and Protection in New York City
Because New York divides assets under equitable distribution, it is necessary to follow appropriate asset protection procedures with legal representation. Inexperienced divorce attorneys cannot negotiate with your spouse and protect your financial rights as effectively. A good high net worth divorce attorney in New York City will negotiate to both value and divide your assets fairly so you don’t get stuck losing money.
Additionally, they are experienced in pre-nuptial agreement evaluation and litigation (if necessary). An asset protection plan may include strategies that increase value and decrease tax obligation for both you and your spouse and will also incorporate tactics to protect your businesses and partnerships. High net worth divorce cases can be particularly complex and stressful. Without the help of an experienced divorce attorney, settlements can be incorrectly valued and assets distributed inappropriately. In the future, mistakes like these may necessitate modifications, which can be costly and time-consuming.
Exceptional Legal Representation in New York City
If you are seeking a divorce in a high net worth situation, contact the law office of Vivien I. Stark, P.C. today. For over 30 years her practice has focused on marital and family law. She serves the five boroughs of New York and the surrounding communities. Vivien I. Stark, a NYC high net worth divorce lawyer, is well-versed in asset valuation and distribution and will make sure your assets are thoroughly protected. Additionally, she provides confident legal counsel in the evaluation or challenge of a pre-nuptial agreement.In all divorce cases, Vivien I. Stark bears her clients’ best interests in mind and works hard to obtain the best result. Her top priority is protecting her clients while aggressively (if needed) negotiating a fair and acceptable agreement. Deeply committed to her clients, Vivien I. Stark has been recognized with a superb Avvo rating and as an accredited member of the Better Business Bureau.
To discuss your needs, please contact us online or call us at (212) 349-1600 to schedule an in office or telephone consultation.
The Law Office of Vivien I. Stark, P.C. can assist you with the following areas of divorce: