You’ve probably seen the statistics showing that divorce among Americans 50 and older has increased significantly over the past 30+ years. You’ve likely also heard (and maybe cringed at) the term “gray divorce.” If you’re in that age group and you and/or your spouse...
High-asset divorces: Is a collaborative approach possible?
The high-asset divorce process is notoriously complex. Between identifying and valuating assets, determining an asset division structure that protects the interests of both spouses and navigating any other challenging issues unique to a couple’s divorce – including...
4 high-asset divorce mistakes to avoid
Divorce is complex, but the level of intricacy may be higher when more assets are involved. If you and your spouse had assets with high values, such as businesses, stocks, trust funds or real estate that you both owned or ran, property division may be challenging....
What is the dissipation of marital assets?
Perhaps the easiest way to think about the dissipation of marital assets is that your partner is intentionally trying to waste your financial assets. This happens when your partner fully knows that they are not legally allowed to hide assets during the divorce. They...
3 ways divorce might affect your business
If you are a business owner, it’s crucial to realize that your divorce is going to affect your ability to run it. Some effects will be short-term, but some could last much longer. Here are some of the ways that might occur: 1. Your divorce will occupy a lot of your...
What do you do with art during a high-value divorce?
High-asset divorces often have unique assets that have to be appraised and divided. Sometimes, it’s hard to know what to do with certain items or even to understand if they have value at all. Art is one of those assets. To one person, the art might not be important or...
If your business grew, can your ex-spouse claim those assets in a divorce?
You and your spouse are going through a divorce, and you're also running your business. That business has been doing very well since the two of you got married and it has doubled in size. You consider this something that you did all on your own and it would have...
What happens with deferred compensation in a New York divorce?
Unless you and your spouse signed a marital agreement or settle your property division matters outside of court, almost all of your shared property and income from throughout your marriage is at risk when you divorce. New York's equitable distribution law requires...
How long does a contested divorce last in New York?
You probably made up your mind months ago about dissolving your marriage. Therefore, the court proceedings should be a mere formalization of your decision. It might seem a bit straightforward, but things can get complicated along the way. It means that the time it...
Can your spouse file for divorce and take your lottery winnings?
Say you win the jackpot on the next big lottery, and it's a life-changing amount of money. These jackpots sometimes get as high as $300 million or more. Though you do take home a lot less after taxes and everything else, it's still the type of money that most people...