With the number of people who are wealthy in New York, a high asset divorce is a common occurrence. Some are more amicable than others, but there will inevitably be issues regarding property interests as the case moves forward. While many disagreements stem over assets that are more easily valued, high-end collectibles can also be the source of rancor. When it is a couple who collected expensive artwork, the splitting of these assets and how the courts will address it can be complex. Having legal advice from a law firm that handles high asset cases is advisable.
There are unique challenges in every New York divorce. When it is a high-profile couple and a high asset divorce, it is even more difficult to navigate as the case is frequently played out in the public eye. Both sides could face endless dispute about property, assets, bank accounts and more. When there is an ongoing divorce and it is growing increasingly complex and contentious, it is crucial that there be experienced legal assistance to help with the case.
Any New York high-profile divorce is likely to receive press coverage as the asset valuation is done and the marital property is split. Often, these cases will take a long time to conclude. While many will not have the ability to grasp the massive financial implications of a high-profile couple divorcing, it is useful for those who might not have assets in the billions, but are well-off, to consider how a divorce proceeding with these issues can be handled. A law firm that understands all divorces - especially those with substantial assets at stake - should be contacted for assistance in these cases.
There are many prominent, wealthy and famous people in New York and when there is as high-profile couple, it is likely there will occasionally be a newsworthy divorce. While most people cannot relate to those who have massive assets and are known everywhere they go, there are certain common denominators in every divorce that make keeping an eye on these proceedings useful. For those who might not be famous, but are wealthy themselves, it is even more important to keep track of these divorces in case their own marriage comes undone. Having legal assistance from a law firm that is experienced in a wide variety of divorce cases is always beneficial.
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.
Any divorce has its difficulties, but when it is a high asset divorce involving a high-profile couple, it adds several layers to what they must deal with publicly and privately. Regardless of the circumstances, many divorces have certain similarities and that is true whether the couple was prominent and had significant assets or it was a more low-key couple whose income and assets were limited. One factor that should not be ignored is the need to have legal assistance from the beginning of the case.
A New York divorce is complicated enough without the details being openly debated in the media and by outsiders who are not fully informed, but this is the reality with a high-asset divorce. New York has many people who are of significant means but are not necessarily household names. Those who have major wealth and have decided to part ways will often engage in a dispute over various items from the marriage. Such is the case with property interests and disagreements as to whether valuable properties like real estate should be part of the divorce or belong to one of the spouses alone. When there is a high-asset divorce, legal advice is critical.
Assets are a frequent topic for dispute in a New York divorce, especially when it is a high-profile couple with significant assets. Those assets can include real estate, retirement plans, valuable artwork, motor vehicles and much more. When the couple decides to end the marriage, there will inevitably be disagreements as to how the property is allocated. The concept of equitable distribution is one of the most important issues for the parties to consider. Given the frequency with which these issues are misunderstood, having a grasp of them beforehand is key to a successful resolution of the case.
When a wealthy couple's marriage gets rocky, they are faced with very similar issues and questions that any couple in this predicament would face. Either the couple will take steps to make the marriage work, or they will initiate the process to end the marriage. Although life isn't so black and white, those facing divorce often have many major decisions to make. For those with a great deal of assets to address, this can sometimes complicate the matter even further.
We do not realize how important some things are until we are in a certain situation. Consider divorce for example. Some people in New York would not think about protecting their assets, assessing their finances or even losing the things they worked hard to obtain. However, marriage and divorce bring about these thoughts. For these reasons, some couples decide to include a prenuptial or postnuptial agreement in their union. While a couple or spouse does not need to be wealthy to utilize these documents, it is a common and very useful document to have when going through a high-asset divorce.