As a New York medically-trained divorce lawyer/mediator for more than 35
years, I have handled many financially complex, high net worth, high profile
and celebrity divorces.
Divorce is never easy, but those 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, etc., high net worth divorces can involve
the added burden of determining, for example, how the value of 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 a lot more to lose.
If you are considering a High Net Worth Divorce, don’t make the following mistakes!
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.
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
motivation.
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. 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.
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 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, and discretion. It is critical that you
hire a highly skilled and experienced attorney/mediator to protect your
best interests.
As a financially sophisticated divorce attorney/mediator having worked
at Sullivan & Cromwell, with unique psychological insight, I will
help you think strategically and clearly to protect your family financially
and psychologically.
If you’ve worked hard to develop a high net worth for yourself, you’ll
want to make sure that it is protected. I can skillfully help you protect
your wealth, call me.
Call to schedule your consultation today!
We still have some appointments available for this week.
I look forward to helping you.
Warm regards,
Lois
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 consultation.
212.734.1551.
There is no case too difficult or financially complex for Lois Brenner
to handle!!