Helping Clients Get Favorable Results When There’s a Lot on the Line

If you are facing a divorce with substantial assets, you may have serious concerns about protecting your hard-earned wealth. Whether you are an earning spouse or a spouse who supported your significant other while they earned an income, you have a right to your fair share of the marital property.

In a divorce with significant assets, battles over the estate can quickly drain the estate funds and leave you emotionally taxed. However, the law is on your side, and you don’t have to engage in this fight alone. You can rely on our high asset divorce attorney for support during the legal process and to protect your valuable assets.

Our legal team has the depth of knowledge necessary to navigate New York family law. We will fight for true equitable distribution, including complex financial portfolios, business interests, retirement assets, and other complex assets. We can resolve issues related to prenuptial agreements and advise you on the tax implications of your divorce settlement.

Let us handle your high-asset divorce case so you can enter the future with confidence. You can reach out to our caring, capable legal team by calling 917-924-9790.

What Are Some Main Concerns in a High Net Worth Manhattan Divorce?

Unlike lower-value divorces, a large marital estate may be more challenging to divide. One or both spouses may have business interests that further complicate the divorce. Each spouse has a good reason to fight for a fair spousal maintenance order. Other issues may involve the care and support of children following the divorce. Regardless of your financial circumstances, you deserve a law firm backing you up to get you the best outcome possible.

Property Division

One of the most hotly contested items in any New York divorce is that of dividing the marital property. This is especially true in a high-net-worth divorce. A high-asset divorce may involve complex assets, such as business assets, retirement accounts, stock options, and other diverse assets. Large homes and vehicles may also be difficult to divide equally.

With our knowledgeable divorce attorney on your side, you can navigate these complex financial issues and walk away with the share of the estate that you deserve. We’ll fight for fair property distribution, find hidden assets, and minimize the costs and stress of this legal battle.

Spousal Support

Spousal support, also known as alimony or spousal maintenance, is often paid to one spouse who is not ready to enter the job market. Spousal support payments provide a level of comfort and stability that was enjoyed during the marriage, even after divorce. These payments may last until the spouse has gotten the education or skills needed to provide their own income.

In other cases, spousal maintenance may be permanent to support a spouse who is unable to work due to age, illness, or disability. It’s crucial to seek legal counsel whether you are pursuing spousal support or trying to protect your income from an unfair spousal maintenance order. Call our law office immediately for assistance.

Child Support and Child Custody

When a divorce involves children, the spouses must agree on child custody, which in turn impacts the child support order. In a high-asset divorce, the various income streams may make it difficult to understand which parent pays and how much.

In New York, a judge will make the final decision regarding child support based on each parent’s financial circumstances. Some factors include each spouse’s income and the division of parental responsibilities. You can count on our legal team to seek fair child support orders that meet your needs.

How Is Asset Division Handled in a New York High Net Worth Divorce?

New York follows equitable distribution laws, meaning a judge will aim to make a fair and just ruling that may not result in a 50/50 split. It’s essential to know how the law affects asset division so you know what to expect during your high-asset divorce.

Equitable Distribution

The court will consider several factors when deciding how to divide the marital property in a New York divorce, including:

• Financial circumstances of each spouse, such as income earned and their earning potential
• Contributions of each spouse to the marriage, including providing income and housekeeping contributions
• Marriage duration
• At-fault divorce, including whether one spouse dissipated marital assets
• Each spouse’s health and age

Please note that the division may not be equal, but it will be as fair as possible.

Separate Property vs Marital Property

One of the most critical principles to understand in a high-asset divorce is the distinction between separate and marital property. While marital property gets divided equitably between the two divorcing spouses, separate property is not subject to division and remains with the owner spouse.

Some examples of separate property include gifts or inheritances received by one spouse alone. Our legal team can help you understand what to expect during property division and how to fight for your separate property.

What Is the Divorce Process in New York?

In Manhattan, the divorce process begins with filing a petition to dissolve the marriage legally. If you are the person initiating the divorce, you’ll have to serve the divorce papers to your spouse. This can be difficult if your spouse avoids you or refuses to cooperate. Our legal team has strategies to help ensure your divorce gets off on the right foot.

Once the process begins, you and your spouse will need to resolve certain issues, such as property division, child custody, spousal support, and child support. In a high-net-worth divorce, it’s critical to obtain accurate asset valuations at this point to protect your share of the marital property. Complex assets may be difficult to evaluate. Our law firm has access to professionals such as forensic accountants and other strategies to ensure accurate asset valuation, including business valuation.

If you and your spouse can’t resolve every issue that arises, you may be facing a contested divorce. We can help minimize the stress and cost of your divorce by representing your interests and finding creative solutions that satisfy both partners. We’ll also help by interpreting prenuptial agreements and protecting your financial interests during negotiations, mediation, and, if necessary, in court.

If your divorce goes to trial, a judge will issue orders for the various decisions related to your divorce. Court orders are legally binding, and you can use family law attorneys to enforce or modify these orders as necessary. Reach out to our law firm immediately for more information about how we can help throughout the divorce process.

What Other Methods Can Be Useful to Resolve Issues in a High Net Worth Divorce?

Many couples hope to reduce the stress and cost of their divorce by reaching conclusions outside of court whenever possible. In a high asset divorce, there’s even more at stake. If you disagree with the distribution your spouse is seeking, you have options besides taking the matter to court.

One excellent option for dividing a high-net-worth marital estate is mediation. Mediation is the process of meeting with your ex with a third party present to assist with negotiations. In mediation, you are welcome to bring your attorney to ensure your interests are being met in any settlements. You may also choose to have your lawyer meet with your spouse’s lawyer so you don’t have to be in the same room as your ex.

High-net-worth individuals often want better control over their future. Mediation can be a great way to find solutions that meet your family’s needs without unnecessary court interference. We find that families who resolve matters through mediation often report greater happiness and fewer grudges than those who resort to court.

It’s important to note that mediation does not result in a legally binding decision. So if you need the law to back you up in enforcing your divorce decisions, you may need an order from a judge. Our team of divorce attorneys is ready and able to represent you in mediation or in court. Call us now to protect your financial future during your high-asset divorce.

Why Do I Need a High Asset Divorce Attorney?

When you are experiencing a high net worth divorce, there is too much at stake to go it alone. You deserve access to the wealth that you worked so hard to build. With a high net worth divorce lawyer by your side, you can protect property acquired throughout the years, including complex assets that are difficult to value or distribute.

Having an experienced lawyer help you throughout the divorce proceedings can also ensure you know what to expect at every step. You’ll have someone who understands the law representing your interests and getting you the fair outcome you deserve. With our deep understanding of New York law, our legal team will help you achieve a fair division and a positive outcome in the many decisions that come into play with a New York divorce.

Divorce lawyers can also help you navigate the tax implications of asset division and enforcing orders that came about during the divorce. If you experience a change in income, additional needs, job loss, or other life changes affecting your spousal maintenance or child support payments, we’ll be there to request a modification of the order. Attorney Julio Portilla can also prepare and interpret prenuptial and postnuptial agreements.

Should You Hire Our Manhattan High-Net-Worth Divorce Lawyer?

Choosing the right lawyer can make a huge difference in the results of your divorce proceedings. In a high-net-worth divorce, you need the asset protection and emotional support of an experienced lawyer who deeply cares about you. You also need honest answers, thorough communication, and aggressive representation.

At the Law Office of Julio E. Portilla, P.C., you’ll find a family-oriented team that has your best interests at heart. We will listen to your story and provide compassionate advice balanced with a sound understanding of New York divorce laws. We also offer committed legal representation as we diligently seek the best solution possible for each of our clients, regardless of the obstacles that may arise.

At this critical time, the last thing you need to worry about is whether you’ll have access to the marital assets you’ve worked so hard to achieve. We promise to leverage our experience and skill to achieve the most favorable outcome possible in your New York high-net-worth divorce.

Contact our legal team today at 917-924-9790 to speak with our team about how we can help you.