What is a High-Income Divorce?

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What is a High-Income Divorce?

Getting a divorce is an emotionally taxing process that involves you, your spouse and your children. To complicate matters even further, if you are a high-income individual, your divorce will most likely involve complex financial issues. This is why it is so important you educate yourself and hire a knowledgeable attorney who will fight for your hard-earned assets in the event of a high-income divorce. Here are some of the questions you may have regarding the divorce process:

How does a high-income divorce differ from other divorces?

Essentially, if either you or your spouse have assets worth more than one million dollars, your divorce would classify as a high-income divorce. A high-income divorce involves all the same things regular divorces do, such as child support, child custody, spousal support and more. However, these issues are compounded with the financial aspects of a high-income divorce. Your divorce may involve your businesses, properties, professional practices and more. Because of this, you are required to submit vast amounts of paperwork regarding your financial situation so the courts can establish a clear picture of how your marriage functions financially. Some of the documents and factors that may come into consideration are:

  • 401(k)s
  • Defined benefit pension plans
  • IRAs
  • Professional licenses
  • Offshore assets
  • Restricted stock
  • Prenuptial agreements in place
  • Involved tax structures and planning
  • Widespread investments, such as stocks, bonds, and investment properties
  • Real estate holdings, including multiple properties
  • The length of your marriage
  • Both you and your spouse’s age and health
  • Both you and your spouse’s education or job training
  • Both you and your spouse’s contribution to marital property

How may I protect myself from the legal pitfalls of a high-income divorce?

Drafting a prenuptial agreement with your spouse is one of the most important things you can do if you are a high-income individual. By doing so, you will be able to protect your assets if the time comes for a divorce. A lot of people don’t know this, but a prenuptial agreement may also protect your inheritance as well. If you are already married and have not signed a prenuptial agreement, it is still not too late. You may draft a postnuptial agreement, which functions virtually the same as a prenuptial agreement. While this may be difficult to suggest to your spouse, if you are a high-income individual, there is no shame in wanting to protect your assets. Signing a postnuptial agreement may give you the peace of mind you deserve.

Contact our New York 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

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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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