High-Net-Worth Divorce Attorney

Serving Nassau & Suffolk Counties

High-net-worth divorces involve couples whose significant financial portfolios make divorce proceedings more complex, requiring their lawyers to possess a level of knowledge and sophistication not required in more routine matters. The substantial assets can include real estate, business interests, investment portfolios, trusts, artwork, jewelry and other valuable possessions. Due to the complexity and value of the assets involved, protecting your financial interests during a high-net-worth divorce requires experienced legal representation and meticulous attention to detail.

Protecting Your Financial Interests in Divorce

At Joseph Law Group, P.C., our attorneys frequently handle high-net-worth divorce cases in Nassau and Suffolk Counties. With decades of combined experience, our team understands the complexities and unique challenges these cases present. We work closely with financial experts, appraisers, and tax professionals to ensure your assets are accurately identified, valued, and protected. We aim to provide strong advocacy while helping you achieve a fair resolution and safeguarding your financial future.

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Asset Identification and Valuation

One of the most critical aspects of any high-net-worth divorce is identifying and accurately valuing assets. In these cases, the types of assets involved extend beyond a home, simple bank, investment and retirement accounts to include:

Real Estate: This may include not only primary residences, but also vacation homes and rental properties.
Business Interests: Determining the value of these assets, and the marital and separate nature, is essential for couples who own businesses, either individually or jointly.
Investments and Retirement Accounts: Stocks, bonds, 401(k)s, pensions, and investment accounts must be accurately assessed to determine their value.

Given the financial stakes, working with professionals with experience dealing with high-value assets is extremely important.

Equitable Distribution in High-Net-Worth Cases

New York is an equitable distribution state, meaning marital assets are divided fairly, though not always equally, between spouses. In high-net-worth cases, equitable distribution can become more intricate due to the nature of the assets involved. Several factors can influence the division of property in these cases, including:

The length of the marriage
The income and property of each spouse at the time of marriage and at the time of divorce
The age and health of both parties
Contributions made by each spouse to the marital estate, including non-monetary contributions such as homemaking
The future financial needs and earning potential of each spouse
Separate property claims

Spousal Support and Alimony

Spousal support, also known as maintenance or alimony, is another critical issue in high-net-worth divorce cases. The financial disparity between spouses can be significant in these cases as can the support requirements to maintain the standard of living. The result may be substantial and long-lasting support obligations. Spousal support is generally calculated based on a variety of factors, including:

The standard of living established during the marriage
The length of the marriage
The income and earning potential of each spouse
The contributions of each spouse to the marriage, including non-financial contributions
Each party's present or future earning capacity

In addition to these factors, high-net-worth divorces may involve unique tax implications.

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Child Custody and Support Issues

Child custody and support can become more complex in high-net-worth divorces, particularly when substantial financial resources are involved. While the primary concern in custody cases is the child’s best interests, financial resources and multiple homes can impact parenting time, living arrangements, and education decisions. Child support calculations may vary from the standard guidelines in high-net-worth cases, especially when parents have significant income or financial resources.

Guiding You With Wisdom, Clarity and Sound Advice Consult Joseph Law Group, P.C.

High net-worth divorces require specialized knowledge and experience to address the many sophisticated financial issues that arise. At Joseph Law Group, P.C., our attorneys understand the unique challenges of these cases and have a proven track record of protecting our clients’ financial interests. We are here to guide you through the process with professionalism, expertise and dedication.

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