While people in New York are married, they have one life, which can be very complex. If they get divorced, trying to figure out how to separate that complex life into two can be even more difficult.
In a divorce, couples must figure several things. First, who will have custody of the children and when will each parent will have visitation? Next, how much child support will be awarded to the non-custodial parent. And, is one spouse entitled to alimony, and of course, how will assets be divided.
Asset division can be an easier part of the divorce, if a couple has a relatively small amount of assets. However, if the couple has many assets, it can be very complicated. In a high asset divorce, the couple may have 401(k)s, pensions and other retirement accounts, investment accounts, one or both may own a business, they may have stock options or deferred compensation plans, trusts, multiple properties, collectibles and other valuable property.
All of these assets must be valued before they are divided between the two spouses. This may involve the use of forensic accountants, business appraisers, property appraisers and other professionals. Once the assets have been found and valued, the couple then can finally start figuring out an equitable division of the property, which can also be a difficult process.
At our firm, we understand how complex high asset divorces can be and have a vast amount of experience dealing with them. We know forensic accountants and other professionals needed to value these types of assets. We also understand how difficult the division process can be and the desire for confidentiality. Mediation may be utilized to assist the couple in dividing assets, while maintaining confidentiality. For more information on how we handle these cases, please contact our high net worth divorce page on our website.