Manhattan High Net Worth Divorce Attorney
A high net worth divorce lends itself to complexities and issues that divorce without high-assets does not. High net worth divorce attorneys, like ours at the Law Office of Vivien I. Stark, P.C., specialize in handling these difficulties. Our attorneys have the expertise and resources required to resolve these cases and enable you to move forward with your life from the strongest possible financial position.
The high net worth divorce attorneys at the Law Office of Vivien I. Stark are concerned with more than your monetary assets. We understand that high net worth divorces are challenging for both spouses and their families.
That is why our representation is:
- Confidential and compassionate;
- Honest and forthright; and
- Continuously looking out for your best interests both now and in the future.
Call the Law Office of Vivien I. Stark, P.C. to schedule your case evaluation. Our Manhattan high net worth divorce lawyers look forward to hearing from you.
Let Our Manhattan High Net Worth Divorce Attorneys Help You Protect Your Assets
At the Law Office of Vivien I. Stark, P.C., our high net worth attorneys’ goal is to protect your legal rights and assets throughout the divorce process. Often, this means hiring experts and specialists in the following fields:
- Forensic accounting;
- Business valuation; and
- Financial analysis.
The Law Office of Vivien I. Stark, P.C. also:
- Thoroughly reviews your retirement assets and drafts qualified domestic relations orders, QDROs, correctly and according to guidelines;
- Helps you inventory any assets and debts;
- Keeps your divorce process moving; and
- Advises you of tax consequences regarding significant decisions.
While our high net worth lawyers want to aid you in your divorce, the best offense is a good defense. Be proactive and call the Law Office of Vivien I. Stark, P.C. before divorce is inevitable. There are ways to retain your assets and future legal rights using prenuptial agreements, postnuptial agreements, trusts, and if you are a business owner, shareholder agreements.
What Is a High Net Worth Divorce?
A high net worth divorce is any divorce where one or the other spouse has more than one million in assets. In a high net worth divorce, the court thoroughly inspects both spouses’ financial records. If either submits incorrect information, the spouses may be subject to an IRS investigation.
The court will review the following in a high net worth divorce:
- Retirement accounts, 401k’s, pensions, and similar benefits;
- Shared businesses, spouse-owned businesses, partnerships, and business investments;
- Real estate and property holdings; and
- Out of state or international assets.
What Are New York’s Equitable Division Rules?
New York is an equitable division state. The court divides, or the spouses agree on the division of, marital assets fairly, not necessarily equally or in half. Marital assets are all assets accumulated by the spouses during the marriage.
In asset division, the court looks to:
- The length of the marriage;
- The mental and physical health of both parties;
- Each spouse’s employability;
- Individual income sources and debt; and
- Non-marital property holdings of each spouse.
Judges are unaware of spouses’ daily lives and needs. Therefore, when possible, the spouses should reach their own agreement rather than have the court decide matters on their behalf. This is possible at the time of divorce or using a prenuptial or postnuptial agreement.
Child Support in New York High Net Worth Divorces
Although prenuptial agreements help avoid asset division during a divorce, they do not cover child support and custody issues. The spouses, or judge, will need to determine these issues at the time of divorce.
As with any child custody case, the standard for child custody is in the best interests of the children, along with a list of factors reviewed by the court in every custody case. However, child support in a high net worth divorce may need some modification from the standard income-based calculations.
Additional expenses, including private school, hobbies, sports, healthcare, and childcare, could be a part of a high net worth child support calculation.
Alimony in New York High Net Worth Divorces
The court has the authority to determine both temporary and final spousal maintenance for spouses with a combined income exceeding $192,000. Over this combined income, the court reviews the same or similar factors as a divorce with a combined yearly income between $192,000 and one million dollars.
The court also takes into account any arguments made by attorneys representing the spouses. This is when the help of experienced legal counsel is vital.
Contact a Manhattan High Net Worth Divorce Attorney
At the Law Office of Vivien I. Stark, P.C., our decades of experience give us the ability, knowledge, resources, and expertise to represent you in your high net worth divorce. You worked hard for your home, business, investment properties, savings, and other assets; do not place those assets at risk.
Meet with Manhattan counsel right away at the Law Office of Vivien I. Stark, P.C.