Divorcing high net worth individuals face a complex legal matter. Though divorce is complicated for most, the addition of substantial assets, money, possessions, and debts can make divorce an overwhelming ordeal. A high net worth divorce involves a couple whose combined finances and assets meet or exceed $1 million dollars. When facing such high stakes in a divorce, it is important to have an experienced, passionate, and effective attorney on your side. If you are a person of means who faces a divorce, our high net worth divorce attorney is ready to serve. Peter V. Mandi & Associates, Inc. serves clients across Long Island. Our firm provides a hands-on and effective approach to the legal representation and advocacy of our clients. Contact Peter V. Mandi & Associates, Inc. to schedule a consultation.
Important facts about high net worth divorces
The addition of significant assets and debts are things high net worth individuals must consider when divorcing. Parties must also consider standard divorce issues such as property distribution, spousal maintenance, child support, and child custody. If property distribution is contested, multiple homes, businesses, the value of professional practices, and more will be equitably distributed, which is not always an even split.
If a divorce leads to a court case, the parties will open themselves up to discovery. This is sometimes problematic for certain high net worth individuals. With the need to disclose net worth statements and other financial information, either party can be vulnerable to a court-mandated financial probe if things don’t seem right. A court could hire a forensic accountant to uncover certain information. You should note that if there are discrepancies, the court is a mandated reporter to the IRS, which may open a couple to further financial problems, including audits.
Our High Net Worth Divorce Attorney Protects Elite Clients
It is important to consider legal tools to protect yourself and your assets from the divorce process. Namely, with a prenuptial or postnuptial agreement, a marriage can end with many of the financial issues addressed. Though many shy away from this practice, it is important to protect oneself from an uncertain future and be prepared. Divorce is a reality for many Americans and by executing a binding contract like a prenuptial or postnuptial agreement, you could ensure your possessions’ safety. If you are interested in drafting and implementing this document, contact our firm for a consultation.
Contact a Suffolk County High Net Worth Divorce Attorney
High net worth individuals facing divorce need quality, effective, and ardent legal representation. Peter V. Mandi & Associates, Inc. is an experienced law firm with significant knowledge of New York divorce law. Our firm is ready to guide you through your legal matter and help you make the best decisions possible. To schedule an appointment, contact Peter V. Mandi & Associates, Inc.