Manhattan High Net Worth Divorce Attorneys
If you’re involved in a divorce, our Manhattan high net worth divorce attorneys can help you protect your rights. If your divorce involves large amounts of real estate, personal property or financial accounts, there are special steps that you should take to protect your rights. Our attorneys for high net worth divorce cases in Manhattan are experienced in working with high net worth cases, and we can help ensure that you receive an equitable division of the marital assets.
What is marital property in Manhattan?
With some exceptions, any property that either party acquires during the marriage is marital property. If one of the parties works while the other takes care of the home, the income that the working spouse earns is marital income that belongs to both parties. The money in the bank that either party earns during the marriage is marital property even if only one party works to earn the money.
When two people are married, they are one legal entity for the purposes of determining marital property. What one party receives during the marriage belongs to both parties in most cases. There are some important exceptions. For example, the property that one party receives by way of an inheritance may remain separate property. In addition, the property that one party has before the marriage begins may continue to be marital property if the party keeps the property completely separate from marital funds.
In a high net worth divorce, it’s important to determine what property is marital property. You shouldn’t assume that the property is separate. For example, if one party works at a job where they earn a pension, the pension credit that they earn during the marriage is marital property. There’s a process for valuing the marital portion of the pension in order to determine its value. Then, the court can determine how to apportion the marital estate in order to award an equitable share of the pension to both parties.
Discovering marital property in a high net worth divorce case
One of the challenges in any high net worth divorce case in Manhattan is determining the value of the marital assets. It’s common for one party to be kept in the dark about the family finances. One party may not know what assets they even have or what the assets are worth. One of the ways that our Manhattan high net worth divorce attorneys can help you in a divorce is by using legal process in order to discover your true assets and document their value.
There are things that you can do under New York law in order to gather evidence about your assets. You can ask for information about bank accounts, real property and retirement accounts. You can go directly to these institutions in order to ask for copies of records. In addition, you can require the other party to provide copies of records regarding property and finances. Depositions, requests for admission and even forensic accounting can all be tools that you use to discover what marital property exists. Our high net worth attorneys can help you work with appraisers in order to fairly value assets in your divorce case.
Advocating for fair distribution of marital property
Another way that our team of attorneys advocates for our clients in high net worth cases is by helping our clients form the legal arguments that advocate for fair distribution of their marital assets. The courts have wide discretion in order to fashion a judgment of divorce that’s equitable. It’s important to help the court see all of the circumstances present in the case so that the court can make a fair decision. Whether you want to argue for or against alimony or for a specific distribution of the marital estate, we can help you present the legal arguments that you need to show the judge why they should decide the case in your favor.
Choosing counsel for a high net worth divorce case
Any divorce is a stressful event. In a high net worth case, the way you choose to handle the divorce can greatly impact whether you receive a fair award from the marital estate. Our experienced Manhattan high-asset divorce lawyers can help you build your case and fight for justice.