New York is a city that attracts attention. Since it is so glossy, cosmopolitan and popular, it will naturally have a vast number of high-profile people who live there. Many of these people are married and live a notable lifestyle. Given the prevalence of divorce not just in New York, but throughout the world, it is unavoidable that some of these unions will not stand the test of time and the couple will decide it is best to part ways. However, this can cause problems as they seek to divide their property interests and determine who will get what. With a high-asset divorce, both sides need legal assistance.
Investments, real estate, portfolios, collectibles – all are likely to be in dispute as the parties in a high-asset divorce move forward with their case. Often, both sides will want to keep a certain amount of what they acquired during the marriage or would like compensation or an accommodation for letting it go. This requires deft handling and legal know how to navigate. The key to this is not just what it is worth, but whether the parties are on reasonable terms to negotiate.
An amicable parting of the ways is always preferable as it can save time and money. Even parties who disagree, but can communicate can discuss matters in a rational way, can get the proceeding over with as quickly as possible. In some instances, the parties are not able to discuss their issues in even a perfunctory way and must go to court to settle matters.
Before letting emotions and concern about the future cloud judgment, it is imperative to have legal assistance to deal with the entire case from the start. This is true from the perspective of a spouse who brought the assets into the marriage and a spouse who had little at the start; if there was a prenuptial agreement or not; or if both sides share in what was built. When making the determination that a marriage has reached its end and there are substantial assets at stake, calling a law firm that understands property division in high-asset cases is vital.