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...
High Asset Divorce
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...
How long does it take to get a high-asset divorce in New York?
Worrying about how long your divorce will take is common among Williamsville, New York residents. When a marriage is over in all respects but the legal ones, you want it finished as fast as possible. Unfortunately, divorce is rarely a speedy process, especially if you...
Understanding contested divorces in New York
When significant wealth and assets are at stake in a divorce, it complicates the entire process. Often spouses cannot reach an agreement on critical divorce and family issues like child custody, property division and support. In many cases, this ongoing disagreement...
How to split the practice
If your spouse is also one-half of your professional practice, divorce carries significant risk to your livelihood. New York’s family laws divide property on an equitable basis, and that will extend to your business. To have an idea of what that will look like, you...
What is the role of a QDRO in a divorce?
There are so many laws and rules about divorce that it can seem like it has its own language. The jargon around divorce can make it hard for people to understand what they read in legal documents and what they hear in court. One of the terms that people often throw...
Timing the valuation of your marital assets in a divorce
Splitting up the marital assets can be one of the most complicated aspects of divorce, especially if some of those assets have an unclear value. At some point, a valuation will need to be performed on those assets -- but you need to time the process carefully. The...