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If you’re facing a divorce and you have a large net worth, your divorce poses some unique issues. You need to document the assets in the case and prepare evidence for use in court. There are some unique laws to be aware of as they relate to your divorce. As Queens divorce lawyers, we’re experienced handling high net worth cases. We advocate thoroughly and aggressively for the best interests of our clients in each case.
Often times, the other spouse tries to hide assets in a high income divorce case. There are a number of ways that they might try to do this. They might try to send money or property to relatives in order to hide it from discovery. They might try to be dishonest about the nature or value of an asset.
There are things that your Queens high net worth attorneys can do in order to discover assets that your spouse might be trying to hide. We can use a few different methods in order to find assets. For example, interrogatories allow us to send written questions to the other spouse.
The spouse has to answer these interrogatory questions under oath about their assets. They also have to produce records that we request. Our years of experience in high-asset divorce cases give us the experience to know how to ask these questions in order to get to the truth.
Another discovery option is conducting a deposition. That’s an oral examination of a person under oath. Discovery isn’t limited to the other party. We can request records from banks, financial institutions, family members and any other person or entity who might have information or records about the assets in the case.
Once we identify the assets in the case, we set to work valuing them. If we want to ask the court to award you certain property in your Queens high asset divorce case, we need to be able to tell the court what those assets are worth. To do this, we employ a team of expert appraisers and financial experts.
We might need to employ an expert accountant to value a business. We may need to get your home or other valuables appraised. Sometimes, we need to find a way to explain the value of a pension or stock options. Whatever the issues in your case, we have years of experience handling high-asset divorce cases. Our team can work to value your assets fairly and in a way that empowers the court to rule in your favor.
Another thing we need to consider in Queens high net worth cases is the difference between separate and marital property. The court can divide marital property. Property is usually marital if either of the parties acquire it after the marriage.
If a party has separate property that they acquire before the marriage, in many cases, that person retains the property after the divorce without any compensation to the other side. This poses some questions as to the whether an item of real or personal property is separate or marital. It’s important to work with an attorney in order to prepare documentation for the court.
Alimony or spousal support
When a court decides alimony in a Queens high asset case, they consider the needs of each party and the resources of the parents. The court considers the length of the marriage, the age and health of the parties and the ability of each party to work. Although the courts provide a general alimony calculator, it’s just a general idea, and it doesn’t take all of the factors into account that a judge can consider.
In a high-income family law case, the court must make decisions about child support. In Queens and in all of New York, a child has the right to financial support from both parents until they reach age twenty one. The court has the option to take the high income of the parents into account when they fashion an appropriate child support order in the case.
This requires the court to inquire as to the needs of the children and the resources of the parents. There are also questions as to whether the court should order the parents to pay extra expenses such as college expenses or private school. An attorney can help you prepare arguments to the court to support your position.
Why work with an attorney
Our team of Queens high net worth lawyers know the special challenges that come with high-asset divorce cases. Discovering the assets in the case and tediously preparing evidence for the court can make a world of difference when it comes to achieving a fair outcome in your case. When you work with us, we handle the pressure for you as we work together to present your case in the best possible light. Our team is aggressive but fair. If you’re facing a family law matter in Queens or any New York court, we invite you to contact us today.