Rochester High Net Worth Divorce Lawyers

Protecting Your Legal Rights in Marital Asset Distribution

Divorce can be an overwhelming process. A divorce often involves resolving contentious and high-stakes disputes – most notably the division and distribution of marital assets, property, and debts.

What is A High Net Worth Divorce?

A divorce is considered to be “high net worth” when it involves over one million dollars in net liquid assets. A high net-worth divorce usually means that there will be an equitable distribution of marital assets.

As an equitable distribution state, New York courts call for a fair and just distribution between divorcing spouses. However, fair distribution does not have to mean 50% each and can become especially complex for high net-worth individuals with a wide range of financial interests.

You also may face concerns involving:

• Tax liabilities
• Intellectual property rights
• Corporate agreements
• Long-distance or international custody issues

At The Glennon Law Firm, we litigate complex financial assets, including business dissolutions and litigations, as well as matrimonial law. This interdisciplinary approach gives us a greater understanding of how businesses, professional practices, and other valuable assets are affected in the property division process.

Although we cannot provide tax advice, we also understand how taxes and tax bases can affect the actual equitable distribution of assets. Our high net-worth divorce attorneys have years of experience handling these complicated and often emotionally challenging issues for clients.

Arrange a confidential consultation with our Rochester divorce lawyers by calling (585) 294-0303 or contacting us online.

Divorce Asset Distribution in High Net Worth Families

High net-worth divorce cases can be extremely complex. This is due to the number and value of marital assets and liabilities that must be marshalled, valued, and divided according to the law.

In a high net worth divorce, the property division process may involve:

• Uncovering hidden assets
• Valuating businesses and professional practices
• Enforcing rights and duties under both prenuptial and postnuptial agreements

Separate property assets, including assets acquired and business started prior to your marriage, do not have to be distributed and should be protected. Therefore, asset distribution must include identifying what assets are separate property and not marital property, to ensure you receive what you deserve.

Assets that should be carefully reviewed in a high net divorce include:

• Multiple real estate holdings
• Businesses
• Professional practices
• Retirement accounts
• Stock and bond portfolios
• Deferred compensation
• Offshore assets
• Tax obligations
• Art collections
• Future economic interests

Completing this process accurately will involve partnering with forensic accountants, business valuation professionals, and other financial experts. We have built relationships with such experts and can work in concert with them to produce a complete account of all assets. Our team can leverage these findings to make sure your interests are protected and that your financial life after divorce is stable and sound.

Resolving Custody Disputes in a High Net Worth Divorce

Asset, property, and debt distribution tend to take centerstage in a high net-worth divorce. However, custody issues can still emerge in scenarios involving minor children.

While our main focus is on the complex financial assets and ensure that you receive what you deserve, our firm is also capable of helping you navigate custody issues of any complexity

We can help you navigate complicated custody issues relating to:

• Relocation problems
• International concerns
• Private school setting schedules

Satisfactorily resolving custody issues is especially important in a high net-worth divorce, as the terms of custody can often have a significant impact on child support, maintenance, and parenting plan agreements.

Negotiating and Challenging Prenuptial and Postnuptial Agreements in a High Net Worth Divorce

Prenuptial and postnuptial agreements can be especially useful and necessary when entering into a marriage involving high net-worth individuals. We can help you prepare and review these agreements, which should be meticulously drafted and negotiated. Our attorneys are familiar with vulnerabilities that can weaken an agreement’s efficacy and can leverage that knowledge to draft robust, enforceable documents – or to litigate them.

There can be situations in a high net worth divorce where a prenuptial or postnuptial agreement is challenged. We have experience litigating these conflicts and can fight for and protect your interests.

Common Mistakes People Make in High Net-Worth Divorces

One of the biggest mistakes that a person can make is not working with a divorce lawyer in their area that is specifically experienced in high net-worth divorces. The risk of error is even greater in cases like this and decisions can affect you or your children in the long run. Be sure to work with an attorney with years of experience who can advocate for you.

Another mistake people make in high net-worth divorce is attempting to hide their assets. Doing this may be considered fraud and you may lose credibility in the eyes of the court, which may have serious consequences.

Finally, people end up making decisions based on their emotions without considering the risks involved -- custody, visitation, child support, alimony, and more. If you are considering divorce, be sure to work with a skilled Rochester high net worth divorce attorney who can support you through any tough decisions. At The Glennon Law Firm, P.C., we will advocate for you and the best interests of your children.

Contact a Rochester high net worth divorce attorney at The Glennon Law Firm, P.C. via online form or call (585) 294-0303.