High-Income Divorce in New York | What to Know

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High-Income Divorce in New York | What to Know

A divorce is a complicated process in general. There are many issues for every couple to agree upon, for example, child support, child custody, alimony, and division of assets. The division of assets becomes more difficult when there are a lot of assets involved. For this reason, high-income individuals tend to have especially complex divorces. These divorces are called high-income or high net worth divorces. Read on to learn more about high net worth divorces in New York.

What Constitutes a High Net Worth Divorce?

A high net worth divorce refers to the divorce of a couple with an income of $1 million or more. When so much is at stake, it is important to retain the services of a strong legal team.

What Assets are Considered?

High net worth individuals may have a lot of large assets to consider when it comes to a divorce. A few of these assets may include:

  • Real estate properties
  • Businesses and partnerships
  • Retirement plans
  • Stocks and other investments

Potential Problems with High-Income Divorce

During the discovery process, both parties will need to disclose their financial documents. During a contested divorce, one or both spouses may be vulnerable to investigation. Some parties involve forensic accountants to make sure all assets have been disclosed. If anything suspicious is found, the IRS may get involved. Divorce is a difficult process, and these issues can make the situation even more complex. As a result, it is important to have a skilled attorney on your side.

Protecting Your Assets

In some cases, a couple will have signed a prenuptial agreement, making the divorce process faster and easier. A prenuptial agreement is a document that is drafted and signed before a marriage, stating how your assets will be divided in the event of a divorce. Some couples do not sign a prenuptial agreement because of the negative stigma surrounding the idea. In reality, a prenuptial agreement can be greatly beneficial to both parties. If you do not sign a prenuptial agreement and later decide you wish to, you can create a postnuptial agreement. This is the same document, with the same purpose, but it is drafted after marriage, rather than before. If you are interested in creating a prenuptial or postnuptial agreement, contact the Law Offices of Susan A. Kassel, P.C. today.

In the event of a high-income divorce, you will want someone to protect your assets and fight for what is fair. To speak with an experienced attorney, contact us.

Contact our Firm

Matters of divorce and family law should be navigated with the guidance of an experienced attorney. If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.

Why choose our firm?

We have an excellent AVVO rating from our many happy clients

We will tirelessly pursue a favorable resolution to your case

We offer aggressive and effective representation

We treat our clients with the compassion, patience, and respect that they deserve

We have more than 20 years of dedicated legal experience

We have the legal knowledge necessary to help you obtain the outcome you desire

We tailor our practice to the representation of your divorce case

What Our Clients Are Saying

I hired Susan to represent me in a divorce matter where I was fighting for custody and to limit my wife's equitable share of our assets. I won custody of our son, kept the marital residence, kept my professional practice, kept my building and paid less than half to my wife. This was after a long-term marriage. She could persuade the court that equitable is not equal and sometimes the man does deserve to win!

‐ Dave

I first must say that I had been represented by two prior attorneys both of whom had simply taken my money and left me nothing to show for it in my custody case. They kept telling me what they were doing for me but I found out they were lying. Susan on the other hand had gotten me temporary custody and support for my children and myself within two months of hiring her. I cannot say enough about her.

‐ Craig

After talking to a few other attorneys, I hired Susan to represent me in my divorce and custody dispute. I was reluctant to go with her because she was the cheapest out of all the other attorneys I met with, but I'm so glad I did. I am 100% positive no one else would have done such a great job with my case as Susan and her staff. Her work is quality, her staff is reliable and her character is honorable. There...

‐ Linda

I had a very difficult case where I had already burned through two attorneys who were unable to get me custody of my children and complete my divorce. Susan was able to rapidly work out an agreement and not let it just malinger on like my previous experiences. She was also considerate of my financial situation unlike all of the other lawyers I had spoken to. I highly recommend her if you want complete and caring service with an in-depth knowledge of...

‐ Joanne

SERVING ALL OF SUFFOLK COUNTY

The Law Offices of Susan A. Kassel, P.C. proudly serves clients throughout Suffolk County, New York in their divorce, family law, and estate planning matters. If you require the services of an experienced Suffolk County attorney, schedule a consultation with The Law Offices of Susan A. Kassel, P.C. today.

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