No matter who you are, going through a divorce is an emotional and trying process - no one gets married with the intent of one day permanently and legally separating. However, high asset divorce cases can be even more complex, as with more assets in a divorce, there may be more for couples to disagree about, and dividing property may be even more complex. If you are a high net worth individual or in a high asset marriage, working with an experienced high asset divorce attorney in Syracuse when dissolving your marriage is advised.
Issues in High Asset Divorce Cases
One of the biggest issues in a high asset divorce is determining how certain types of property will be divided amongst spouses. These property types include, but are not limited to:
- Real estate properties;
- Retirement accounts, such as 401(k)s and pensions;
- Investments; and
- Other high net worth personal property.
In addition to disagreements regarding how assets are to be divided, another major issue in a high asset divorce is typically that of alimony. Also called spousal maintenance, alimony is paid by the higher income-earning spouse to the lower income-earning spouse. In high asset divorce cases, one party may ask for thousands of dollars’ worth in monthly alimony payments, creating a financial burden for the other spouse.
Keep in mind that while some parties in a high asset divorce may have prenuptial agreements in place, prenuptial agreements are not always foolproof. Indeed, a judge may hold that a prenuptial agreement is unfair, or a party may try to claim that the prenuptial agreement is invalid.
Protecting Your Privacy
High asset divorces often involve high net worth individuals who want to protect their privacy as they dissolve their marriage. When you work with the Bombardo Law Office, P.C., your confidentiality is our top priority. Because we know how important your privacy is, we help you to explore all out of court options before taking your case to court, as litigation can draw unwanted attention to your case and becomes public record. Our lawyers utilize strategies to limit unwanted public attention.
Valuating Businesses and Other Professional Services in a High Asset Divorce
If you are going through a high asset divorce, our attorneys can guide you through everything you need to understand about:
- Uncovering hidden assets;
- Valuation of a business;
- Forensic accounting;
- Valuation of real estate, stocks, and other holdings; and
- Tax consequences of divorce.
We work with a number of experts in navigating the above issue. Sometimes, the opinions of these experts prove crucial in obtaining a divorce settlement in clients’ favor.
Options Available to You
If you are entering a divorce with complex issues, such as attempting to dissolve a high asset marriage, it is important that you understand the options available for you for obtaining the divorce. Our attorneys help you to understand the differences between negotiation, mediation, litigation, and collaborative divorce, and which one is right for you and practical for your situation. As stated above, we encourage out-of-court settlements whenever possible, as an out-of-court settlement is less costly and time consuming, is typically much less contentious, and preserves more of your privacy.
An Advocate on Your Side
In addition to issues regarding spousal support and division of property, couples in any divorce with children will also need to come to an arrangement regarding the custody of the children. When you work with our law firm, we do not overlook the fact that preserving the best interests of your children is no doubt the issue that is most pressing to you, and reassure you that we are as compassionate and knowledgeable when it comes to child custody issues as we are savvy and aggressive when it comes to financial issues in a divorce. We will work with you to help you understand New York child custody laws, and your options for negotiating with your child’s other parent to create a parenting plan that works for everyone.
Contact Our Syracuse Divorce Attorneys Today
There is nothing easy about ending a marriage. At the law firm of the Bombardo Law Office, P.C., our experienced Syracuse high asset divorce attorney can help you to understand the financial implications of divorce, how to preserve your best economic issues, strategies for reaching a divorce settlement, and all other issues that may surface in a divorce, such as that of child custody. Our law firm has more than 20 years’ experience litigating divorce cases, and is prepared to work for you. Please contact us today to schedule your initial consultation and learn more.