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Nassau County High Net Worth Lawyers

High net worth people typically face a lot of complexities in protecting and managing their wealth. Their assets are often held in various countries. This means that one has to deal with compliance issues under the laws in different jurisdictions. Tax laws are constantly revised. One needs to make sure that they are in compliance with all of the laws. Your attorney has the task of sitting with you and deciding on the best mode of action going forward. A legal professional will be able to make certain that your assets stay intact and that the law covers you at the end of the day.

Complex Property Valuation

Assigning value to an object is not always a simple task, but this is a critical step in the process of property division. Indeed, you may not even be aware of how valuable your marital assets are if you or your spouse have a cash-based business operation or any other unreported income streams.

A skilled Nassau County high net worth lawyer can assist you in reviewing assets.  Your asset portfolio might include:

    • Small businesses
    • Professional practices
    • Real estate holdings
    • Intellectual property (IP)
    • Fine art collections

 

  • Luxury vehicles and boats

 

  • Expensive family heirlooms
  • Stocks, bonds, and mutual funds
  • Retirement plans and investments, including foreign cash

Getting full disclosure of all assets from both parties in the divorce is essential to a just process. Anyone who considers that they should conceal, dissipate, or devalue any assets is attempting to deny you of what could be rightfully yours. You need a Nassau County lawyer who will focus on safeguarding your estate and working towards getting a fair and equitable share of the joint assets.

Arriving at the final separation of complex assets requires great efficiency and keen attention to detail.

Valuing Assets

Unique challenges often arise in High net worth divorce cases in that the parties often disagree as to the value of marital assets. The parties may have an expensive residence, for example, that leaves a lot of room for debate about the home’s worth. One of the spouses might own a business that needs a value in order to come to a fair division of assets. The spouses may possesses unique collections of personal property that have significant value. Determining the proper value of their assets is important for both division of property and alimony.

Our team collaborates with clients ifor the purpose of accurately value these assets. In court disputes over asset values, a spouse that wants the court to assign value to an asset at a certain amount has the burden of proving the asset’s worth. We work in tandem with accountants and expert appraisers in order to prepare evidence of the value of assets.

Properly Identifying Assets

In addition to assigning value to your assets, your Nassau County high net worth attorney can help you identify assets that the other spouse might be trying to conceal. Parties frequently use strategies such as transferring titles and even financial accounts to friends and family members in an effort to keep them from their spouse during a divorce. The courts take this behavior very seriously.

We have methods to identify assets that have possibly been hidden.  These include demanding personal and business records. We can also employ forensic accountants to identify income. In some situations, we find it helpful to team up with private investigators. Once we find out what assets exist in the case, we can then work to value them fairly.

The Wisdom of Tax Planning

A well designed tax plan is the best way to maximize wealth preservation. It keeps the amount of tax that you have to pay down to a low minimum. Additionally, a tax strategy guarantees that you are always compliant with the laws in that particular jurisdiction. This long-term solution is not focused on the present only. High net worth individuals often look for tax minimization techniques that limit the amounts that they are required to pay. It is important that one understands the specific laws that are accepted and those that are not accepted in spite of the fact that there is nothing wrong with this.

The role of a high net worth lawyer is to assist you so that your state and federal tax liability stays down. Tax planning is essential because of the consequences that you may face if you fail to do so. You can request that they review it for you by carrying out an audit if you have a tax plan in place. If you are not confident in the plan that you have currently, then this is a wise approach. The attorney can then bring any errors and any areas where you can save on resources to your attention. One of the top responsibilities of an attorney is to make sure that the client is not at risk. One of the ways that would be able to ensure this is by reviewing your estate or tax strategy and making sure that it is updated.

There are numerous options available for an individual who is thinking about implementing a tax plan. Some of the options are charitable trusts, offshore accounts, and life insurance. It is advisable to have a conversation with your Nassau County high net worth lawyer so that you can explore all the options that you have. Soemthieng important to keep in mind is that a good tax plan will serve you for many years to come. The attorney can not have a significant impact later on if your assets are not structured in a way that they reduce tax consequences proactively. It is important to secure yourself strong legal representation as early as possible so that you can start off on the right foot.

Asset Management: Life Insurance

Many people have a life insurance policy on themselves these days. It is critical that you protect your family financially in the event of your untimely demise. That said, should you at some stage get divorced, you probably would not want your ex-wife or ex-husband on your life insurance agreement any longer.

As a clause in your prenuptial agreement, you should have a plan to either dissolve the life insurance agreement or to transfer it to someone else. Not taking care of this detail could result in a disaster for the rest of your family if you do pass away. Over time, this can be one of the most important details to be figured out in your prenuptial agreement.

Our Team

For the most part, these are never fun topics to discuss in preparation for a marriage. Nevertheless, if you do not put a prenuptial agreement in place before you get married, you could leave yourself open to a great deal of financial recourse from your spouse. Over time, you will need to figure out a plan in this area before it is too late.

Our team has years of experience in this area, having helped countless high net worth clients. We are aware of all of the challenges that you could face in this process, and we have a plan to assist you in protecting yourself in the future as well. Now is the time to begin building a solid protection plan for the future of your financial life.


Based on 362 reviews.
Charle Butler
Charle Butler
2021-03-12
Verified
I was hesitant to hire the Spodek Law Group. I read reviews and knew they have a great reputation. However, I thought I would spend money and not see or speak to my attorney. From the beginning to end of my case Todd and the entire staff were available and willing to help. We worked towards and end result that was way above my expectation and Todd delivered. I am forever grateful for patience and long days and night spent working on my case. Thanks Todd and the entire team!
Mesonista parsons
Mesonista parsons
2021-03-05
Verified
My attorney at Spodek was Abigail. She was very knowledgeable and helpful with all my questions and concerns, as well as responsive. Her fees are affordable and Abigail took the time to make sure I understood everything relating to my case. I highly recommend Abigail and will request her services in the future.
debabrata chakraborty
debabrata chakraborty
2021-03-03
Verified
Todd A Spodek is the experienced and best criminal lawyer at USA. He is very professional and always respond on time. Alex also very cooperative and always help me. They took care me and my problem like family member. I am 100% satisfied for their professional service. My result was unexpected and amazing. They dismissed my case. I am really grateful to them. I will recommend you to go there if you want to solve your problem. I wish all the best for them.
Asata Hendricks
Asata Hendricks
2021-03-02
Verified
Truly appreciate the work the guys did!. Exceptional team & I know they care about each and everyone of their clients. I am super thankful to be referred to Spodek Law Group and I am grateful Todd & Alex were able to work diligently to achieve an outcome I am pleased with. Despite COVID they stayed on top of things and kept me informed every step of the way. Very thankful.
Mike Moroff
Mike Moroff
2021-02-26
Verified
I'm very satisfied with the services rendered by Todd, Alex and Mary Lou. I whole heartedly recommend Spodek Law Group . I've worked with and have retained other attorneys in the past with Todd's firm being the cream of the crop for many reasons. A very serious legal matter was resolved after a year's hard work and effort. Todd expertly guided me through the process and was able to navigate and make the good journey bearable as well as successful. Mary Lou initially provided excellent assistance before referring my case to Todd. Alex's support was effective and timely. The customer portal (MyCase) is an invaluable communication tool that also kept track of my case. Various aspects of my case were explained and there were several options provided but I made the final decision of how the case would be handled. The legal fee was reasonable considering the effort and amount of work plus it was a flat fee regardless of the length of time required to conclude my case. Todd made himself available to me and we had many scheduled meetings to go over the progress and to discuss the next steps. I felt more confident after many discussions with him. You will not go wrong choosing Spodek Law Group for legal matters.
Josh Katz
Josh Katz
2021-02-24
Verified
Being that it was the first time that I was in need of an attorney, I was afraid and hesitant and knew I needed the absolute best. It is beyond understood why Spodek Law Group has a reputation of being the top, if not the best law firm in New York. Alex and Abigail were there every step of the way even at the most unconvenient hours. I could not have asked for more. They are extremely good at what they do and they delivered much much more than just winning my case. A big thank you to Alex and Abigail for all the guidance and counseling and their upmost loyal support that extended far more than just legally. If you need the absolute best than don't hesitate to hire Spodek Law Firm.
L.C.
L.C.
2021-02-24
Verified
I cannot tell you how thankful I am to Todd and Alex for their hard work and dedication to my case. I had never been in any trouble before but I had an unfortunate event occur and in the midst of COVID-19 at that therefore I knew I needed a team that was dedicated to my success. Today- my case has been finalized and I’m walking away with no record and can continue life as a mother and a Grad student worry free. I cannot express enough gratitude for their assistance.
AnnMarie Soliman
AnnMarie Soliman
2021-02-23
Verified
I received a summons and called Spodek law group for a free consultation. Alex took my call and was very quick and responsive. He was available anytime through multiple platforms and very reassuring when needed. They are extremely organized and thorough. They got my case dismissed! I’m very grateful. Thank you Alex and Todd!

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Testimonials

Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them enough.

~ David Bruce

Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet.

~ Rowlin Garcia

Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind.

~ Francis Anim

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