In high net worth divorce cases, the stakes are often much higher. Additionally, a divorce expert in Bay Shore New York can explain that the concerns that a high net worth divorcing couples are often different than those involved in more traditional divorces. A divorce expert in Bay Shore New York can sort these concerns into the following categories:
More Complicated Asset Division
Asset division can be complicated in traditional divorce cases when the parties do not agree on whether property was obtained before the marriage or obtained through separate funds and when they do not agree on the value of property. However, cases may be even more complicated when dealing with high net worth divorces. The couples tend to have more assets and valuing them can be a long and contentious process. Even if property was owned before the marriage, there may have been substantial increases in its value and the couple may disagree about whether the non-owner spouse should receive marital assets for his or her contributions.
When wealthy people are involved, they may be recognized members of the community. In some cases, they may be celebrities. As such, the details of their marriage may be available to the press or interested individuals. The more contentious the divorce, the more attention the case may receive.
When a business owner goes through divorce, his or her spouse may be entitled to a portion of the business interest. Additionally, the divorce can impact the value of the business. It can also cause a decrease in investors’ perceived value of the business due to the CEO adapting new attitudes toward risk or his or her focus on the business.