If you need help with your high-net-worth divorce, divorce planning, child custody, and spousal alimony, visit our website at https://www.nollettilawgroup.com/ or contact our office at 914-831-7000 to arrange your initial consultation.
Full transcript by James Nolletti below.
A high-net-worth divorce has traditionally been defined as a divorce involving more than $1 million in net liquid assets. Today, that number has increased substantially, and we see more and more cases involving multiple millions of dollars. We've handled cases involving hundreds of millions. When it comes to the equitable distribution of marital assets in New York, there is basically a four-step process. You must first identify the assets, then categorize each asset as either marital, separate, or a combination of the two, then value the marital components of each asset, and finally distribute these assets equitably between the parties, taking into consideration what is called tax impacting.
A high-net-worth divorce usually involves unique challenges, largely related to the identification, valuation, and distribution of the couple's assets. Those who've worked hard to acquire this type of wealth have lots more at risk than others not so fortunate. high-net-worth couples need an attorney with experience handling these types of cases to reduce their risks and ensure that the end result is a full and fair asset distribution.
