As a New York divorce lawyer for more than 35 years, I have handled many
financially complex, high net worth, and celebrity divorces.
Let’s face it, divorce is never easy, but divorces involving large
amounts of money, property, and other assets are even more challenging.
In addition to the types of issues present in typical divorces, such as
spousal and child support, child custody, visitation rights, division
of property, etc., high net worth involve a lot more.
A high net worth may involve the added burden of determining, for example,
how the value of a business and stock options will be split or who will
gain possession of which high-value asset.
With greater amounts of assets, there is more potential for error on both
sides, and there are complicated corporate and tax issues that arise.
There is a lot more to lose.
If you are considering a High Net Worth Divorce, you need to examine the
- Don’t make anger your motivator.
Divorce is an emotional time, and making decisions based on anger can have
disastrous results. Fighting about every aspect of your divorce may initially
feel satisfying, but remember that the more contentious your divorce,
the more time and money you will have to spend on it. It is difficult
to make sound decisions about your future when revenge is your primary
- Don’t allow guilt to influence your decisions.
A person who asks their spouse for a divorce may feel guilty about it.
In many cases, this leads them to give more than they should when it comes
to property division and support. However, when it comes to divorce, you
should treat it the same way as a business dissolution. Decisions should
not be based on emotions – rather, they should be guided by the
advice of an experienced attorney/mediator who can help ensure that assets
are divided fairly.
- Don’t agree to anything just to get the divorce.
One should never rush through the divorce process. Rushing through important
decisions such as property division or alimony just to get away from a
person as quickly as possible is never a good idea – it can have
devastating financial consequences and leave you with less than what you
may be entitled to.
- Hidden assets can be discovered.
Some spouses think that they can get away with hiding a valuable asset
in order to avoid potentially losing it during property division. This
is often accomplished by transferring the asset into someone else’s
name until after the divorce. This action will likely be considered fraudulent
and could end up seriously hurting you in court. Forensic investigators
can be hired to locate assets. Beware!!
Remember to consider tax consequences.
When you receive certain assets during a divorce, don’t forget to
consider your tax obligations on those assets. For example, you could
be taxed on a pension, or you could agree to an alimony amount without
knowing how much you will actually clear after you’ve paid taxes.
When it comes to a high net worth divorce, knowing how taxes will affect
your divorce is critical.
- Make sure you choose the right lawyer.
High net worth divorces can be complex, and require a high standard of
professionalism, sophistication, knowledge, and discretion. It is crucial
that you hire a highly skilled and experienced attorney/mediator to protect
your best interests.
As a financially sophisticated attorney/mediator, having worked at Sullivan
& Cromwell, with unique psychological insight and a business background,
I will help you think strategically and clearly to protect your family
financially and psychologically. Choose wisely!
If you’ve worked hard to develop a high net worth for yourself, you’ll
want to make sure that it is protected.
If you’ve worked hard to maintain a home and raise children, you’ll
want a fair settlement to help maintain a standard of living and a bright
future for you and your children.
I can help you accomplish all of this, just call me.
Our FREE 1 HOUR CONSULTATIONS are
discreetly and conveniently conducted virtually to reduce risk.
I look forward to helping you.
Stay healthy and safe!
When it comes to your financial future and that of your family, don’t
leave anything to chance.
Call New York Divorce Lawyer Lois M. Brenner, Esq. to schedule your free