No matter the couple, divorce is complicated, emotional, and difficult. This is no surprise as not only is it the end of a significant chapter in one’s life but also requires the couple to separate their combined life back into two pieces. When a couple has a net worth that is greater than one million dollars, they are going to face additional challenges simply due to the nature of their wealth.
High net worth divorces are often more complex than other divorces because the couple often has a significant amount of assets and investments that must be divided. However, there are also cases where high net worth couples go into the marriage with a prenuptial agreement, which can actually make the divorce easier and more efficient. If the couple does not have a prenuptial agreement in place, they may have to address various matters that include some of the following complexities:
- Business ownership, business partnerships, limited liability companies or corporations
- Retirement plans such as IRA’s, stock options, 401k’s, pension plans, and more
- Various investments such as stocks, bonds, etc.
- Multiple real estate properties, rental properties, etc.
- Complex tax structures
Of course, neither party wants to lose what they have worked so hard for. The couple, like other couples, will also have to address matters related to spousal support, child support, and child custody, if applicable.
As a high net worth individual, it is important to have someone that can represent your interests. If you require the services of an experienced New York divorce attorney, contact our firm today for quality legal guidance when it matters most.
Peter V. Mandi, Esq. is an experienced divorce and family law attorney located in Bohemia, New York. If you require strong and dedicated legal representation in Long Island, New York, contact Peter V. Mandi & Associates, Inc. today for a free consultation.