Brooklyn High Net-Worth Divorce Lawyers Protect Your Assets
New York law firm resolves special challenges when high asset couples split
Most divorces have property issues to resolve. But when a wealthy couple divorces, the complexities multiply. Put simply, there is more to fight over in a high-net-worth divorce, which usually means a divorce of spouses who have liquid assets in excess of $1 million. At Goldberg Sager & Associates in Brooklyn, we are devoted to protecting our clients’ property rights. Our Brooklyn high-net-worth divorce lawyers have extensive experience resolving complex financial and parenting disputes. We strive to achieve optimum results through a detailed examination of the facts and principled negotiation, rather than contentious litigation, which should be the last resort. With our firm, you get dedicated, seasoned professionals who work tirelessly to uphold your rights.
What makes a Brooklyn high-net-worth divorce complicated?
There are many factors that make an affluent couple’s divorce more complicated, such as:
- Asset valuation — Assets such as real estate, fine art, jewelry, boats and exotic or classic cars require professional appraisals.
- Higher likelihood of hidden assets — An offshore bank account is just one example of an asset a spouse might not disclose.
- Extended litigation — Affluent litigants have the resources to drag out court battles.
- Fluctuating income — Some high-paying professions are nevertheless speculative. For example, authors or performing artists might earn substantially less in down years than in years when they issue new releases.
- Business ownership — It is often difficult to assess the value of a business and/or the percentage due to each spouse when they are co-owners.
- Complex custody arrangements — The demands of one of both spouses’ careers can make parenting plans difficult to craft.
It takes a knowledgeable and experienced divorce lawyer to understand and navigate all these complexities and to bring about a successful resolution.
Complex property division in high net-worth New York divorces
The equitable distribution of a large marital estate is a formidable undertaking, due to such factors as:
- Complex investment profiles or stock options
- Intellectual property, including patents, trademarks and copyrights
- Business interests with joint ownership
- Potential alimony or spousal support
- Complicated tax consequences
- Out-of-state or international assets
We engage skilled accountants to ensure there has been full disclosure of assets and debt as well as accurate valuation of all property. We also call the court’s attention to all pertinent factors weighing in our client’s favor.
Child custody issues with high-net-worth couples
Child custody and child support can also be more problematic in a high-net-worth divorce. Courts are guided by the best interests of the children and generally want to see that children will have the standard of living they would have enjoyed if their parents had remained married. This can mean paying for private school, enrichment activities, summer camps, international travel and even hired caregivers. In addition, custody disputes might be complicated by a parent’s relocation at a distance that makes timesharing difficult.
Impact of marital agreements when high net-worth spouses divorce
Many wealthy couples execute prenuptial or postnuptial agreements that govern issues in their divorce and simplify the process. However, a spouse might challenge the validity of the contract, creating one more issue to litigate.
Common mistakes in Brooklyn high net-worth divorce
When affluent couples divorce, mistakes can be costly. Our seasoned attorneys offer cogent advice to help you avoid common pitfalls, such as:
- Making emotional decisions
- Being heavily influenced by a friend’s experience
- Accepting an adverse settlement to speed up the process
- Attempting to hide or transfer assets
- Overlooking tax consequences of financial provisions in a divorce judgment
When you retain our firm, you can trust the advice you get will serve your interests now and in the future.
