Understanding High Net Worth Divorce Let us help you achieve results you deserve.

Suffolk County High Net Worth Divorce Lawyers

Discrete Representation for Your Private Matters

In any divorce there is a lot on the line, and this is particularly true in cases of high-net worth divorce. Given the substantial assets involved in cases of this nature, it can be extremely difficult for a couple to resolve the issues of property division and asset division amicably.

For high-profile couples looking to end their marriage, these tasks can be equally, if not more, difficult. Therefore, our law office offers discrete representation provided to you by a Suffolk County divorce attorney whose intentions are to maintain the privacy of our client as they complete the process of a high-net worth divorce in New York.

What is a High Net Worth Divorce?

A high net worth divorce refers to a divorce involving spouses with significant assets and/or income. These divorces often involve complex financial issues that require special attention and expertise to resolve. Some key characteristics of high net worth divorces include:

  • Substantial Assets: High net worth divorces typically involve substantial assets, such as real estate, investments, business interests, retirement accounts, and valuable personal property.
  • Complex Financial Holdings: The spouses may have complex financial holdings, including multiple properties, business ownership interests, stock options, trusts, offshore accounts, and other investments that require careful valuation and division.
  • Spousal Support: Spousal support (alimony) may be a significant issue in high net worth divorces, as one spouse may be accustomed to a certain lifestyle that they seek to maintain post-divorce.
  • Business Valuation: If one or both spouses own businesses, determining the value of the business interests can be complex and may require the expertise of forensic accountants or business valuation experts.
  • Tax Implications: High net worth divorces often involve complex tax implications related to the division of assets, alimony payments, and other financial matters.
  • Asset Protection: Both spouses may seek to protect their assets and financial interests during the divorce process, leading to complex negotiations and legal strategies.
  • Privacy Concerns: High-profile individuals or those with substantial wealth may have concerns about privacy during divorce proceedings, which can impact the way the case is handled and resolved.

Due to the complexity and high stakes involved in high net worth divorces, it's important for individuals in this situation to seek the guidance of experienced divorce attorneys who specialize in handling complex financial matters. These attorneys can help protect their clients' financial interests and work towards a fair and equitable resolution of the divorce.

Your Sworn Matrimonial Net Worth Statement

In cases of high net worth divorce, one of the most important documents will be the sworn matrimonial net worth statement, which must be filed no matter how much money a divorcing couple has between them. For persons of high net worth, however, this sworn document could play a major role in the procedures that are utilized during the processes involved in completing the divorce process.

This document, which must be sworn to under penalty of perjury, serves as an indication of how your family lived during the duration of your marriage. Upon review of the matrimonial net worth statement, your attorney can determine your financial needs, and establish the feasibility of affording any costs that might arise as the divorce proceeds.

The typical aspects of your family's lifestyle might become critical aspects in the process of a high-net worth divorce, because it must be determined whether or not your family was living within its means. Salaries, bonuses, credit card expenses, the number of households, etc. need to be assessed before the process of negotiation or mediation begins.

In this way, you can be sure that your best interests and the wellbeing of your financial assets will not be jeopardized during the procedures that follow. It is also at this time that real estate assets should be reviewed, because these are aspects that will undoubtedly be discussed during the processes involved in officially dissolving your marriage as well.

What are the complex issues that need to be addressed?

The division of property is often considered first by individuals who are considering divorce, whether the dissolution of their marriage is one of high net worth or not.

Of particular concern to high-net worth individuals, are additional resources, assets, and pieces of ownership such as the following:

  • Investments
  • 401k plans
  • Retirement accounts
  • Family businesses
  • Stocks and bonds
  • Family trusts
  • Executive trusts
  • Real estate holdings
  • Offshore investments

Cases of high net worth divorce very often involve many more assets, and much more money, than typical cases of divorce, making the need for an attorney who excels in this area of the law a necessity. As real estate and high-value assets are divided, you need to feel confident in your attorney's ability to apply proper value to these items. Only a high net worth divorce lawyer can be trusted to do so.

Settling Your Complex Divorce

In any high-net worth divorce, both parties of the divorcing couple are at risk of being taken advantage of by the professionals with whom they are working. With more than 30 years of combined experience in the field of family law we have seen this reality come to fruition time and again. In fact, it is for precisely this reason that our firm strives to provide upstanding representation to high-profile and high-net worth individuals who have decided to terminate the terms of their current marriage agreement.

Kuhn & Sandler, PLLC offers skilled legal advice and support to individuals who are facing the challenges presented by a high net worth divorce. Specifically, we are prepared to evaluate every minute detail of the situation in order to uncover any hidden assets, deviation from previous legal guidelines, under- or over-valuation of retirement packages, and other potential complications that could arise in a case of this nature.

Your first consultation with an attorney at our office is completely free of charge, so don't wait to contact us today.

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