How high-income divorces differ
For the most part, matrimonial issues are generally the same for all divorces. Those who are divorcing must address applicable legal matters, including property distribution, spousal maintenance, child support, and child custody, just to name a few. High-income divorces differ because of the complexity of these issues. Multiple properties, professional practices, businesses, stocks, and other investments can impact a divorce based on the contested issue of the division of assets. Complex family structures and an established quality of life can compound issues like child custody and child support. Alimony can be an overwhelmingly intricate matter to resolve as well. It is important to retain the services of an experienced attorney.
High-income individuals are exposed to legal troubles
When a divorce is litigated, parties open themselves up to the process of discovery. While couples do disclose information when divorcing through mediation and collaborative divorce, a deeply contested divorce can bring with it a certain vulnerability. Couples can easily be exposed to a government-ordered probe, diving deeper than most disclosures. A forensic accountant can dig deeper than what is shared in a net worth statement. If a court was to find discrepancies that would interest the Internal Revenue Service, they are mandated reporters, meaning that they would have to share their findings, leading to further exposure to legal issues.
Prenuptial agreements
It is important to consider options that protect oneself from the vulnerability of divorce for matters like alimony and property distribution. Through the execution of a prenuptial agreement, a marriage can conclude with many financial issues already addressed through a legal contract. Though a prenuptial agreement comes with a certain degree of stigma, it is an important tool to protect oneself from an uncertain future. If you need to draft and implement a prenuptial agreement, contact our office to be of service.
Contact a Suffolk County high-income divorce attorney
High net worth divorces are complicated, high-stake legal matters. With so much on the line, retaining effective and experienced legal services is critical. The Law Offices of Susan A. Kassel, P.C. has been a quality legal resource to the people of Long Island for over 25 years. With a respected name in family law, our firm works to exceed the expectations of our clients. For a consultation, please contact The Law Offices of Susan A. Kassel, P.C.