Carton & Rosoff PC-Attorney at Law

Resolving disputes creatively

Hedge fund manager in New York locked in contentious divorce

People in New York have varying levels of income and assets. Based on these incomes, people live very different lives. Some are able to live lavish lifestyles, live in expensive homes and take expensive vacations. Others make enough to get by, but may not be able to afford some of the extravagances that wealthy people can afford. Just like people's lifestyles are very different, people's divorces are also very different based on their income and assets.

Those with many assets can have a much more complicated divorce than those with fewer assets. This is highlighted in a hedge fund manager's high asset divorce. The couple owns many different properties and the husband owns many different companies, which he has set up to funnel money and assets through. This means that this divorce is very costly and due to that a judge recently ordered that the husband pay his wife $4.1 million just for her attorney's fees and costs. This money will be spent as the couple goes through the process of dividing their over $200 million in assets.

This divorce may involve more assets than most divorces, but there are still many couples with many assets. Usually those assets are many different forms such as real property, retirement accounts, investment accounts, businesses, collectables and many other types of expensive assets. Often times simply trying to value each of these assets can be very expensive. People will need to hire business appraisers, property appraisers, forensic accountants and others to value the assets before the couple can start the process of dividing the assets.

People involved in high asset divorces in New York soon realize that while having many assets in a marriage can allow them to live a nice lifestyle, it can mean that a divorce will be that much more complicated. However, despite these complications, it is still something that must be completed before the divorce can be finalized. Experienced attorneys understand these complications and may be able to guide one through it.

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