Manhattan High Net Worth Divorce attorneys
Most divorces are unfortunately stressful on the two individuals in various ways. Even in an amicable divorce that is free of emotionally-charged arguments, the stress of a relationship ending is only one factor at play. All assets and debts accumulated during the marriage must be equitably divided. The custody of the children as well as an agreement about how time with them will be shared becomes a concern. One or both parties will need to move out of the family home, and the combined income level that the family shared together will be divided. Many aspects of the family’s life and overall lifestyle are impacted. In the case of a high net worth divorce in Manhattan, the stakes are even higher. You could hire a general divorce attorney to represent your interests during the divorce proceedings, but a better idea may be to hire an attorney with specialization in high net worth divorce cases.
You may be wondering what makes your high net worth divorce different from other divorces. All divorcing parties experience many of the same challenges, but individuals with a high net worth may have a more complicated financial situation. These individuals may also be more likely to have a prenuptial agreement drawn up, and the terms of that agreement will need to be honored or disputed. In some cases, one individual is the primary wage earner, and the other party may seek a sizable spousal support payment in order to avoid a major upheaval in his or her lifestyle. While the ruling of a large spousal support payment may benefit one party, it can be detrimental to the individual who is required to make that payment regularly. One individual may own a business, have a partnership or have other unique agreements that could be affected by the divorce.
Even without a prenuptial agreement in place concerning issues related to abuse, infidelity and more, these factors could still be used as a means to negotiate more advantageous terms. On the other hand, if the other spouse is accusing you of these issues, your Manhattan divorce attorney may need to protect you against these allegations.
Remember that there are essentially two ways for a divorcing couple to complete the divorce process. They must either agree on all aspects of the divorce terms outside of the court through negotiations via their attorneys or allow the judge to rule on the matter. When the judge rules, there is a possibility that neither party will get what he or she wants. In many cases, it is more advantageous for a divorcing couple to try to settle the terms of the divorce outside of the courtroom.
Whether you are thinking about filing for divorce in a high net worth marriage or you have already been presented with divorce papers from your estranged spouse, it makes since to hire an attorney in Manhattan who has experience with this type of situation. While the division of assets and debts should be equitable under the terms of the law, the divorcing couple can agree on an arrangement that is in both of their best interests rather than asking a judge to make a ruling on their behalf. With this in mind, an initial consultation with a divorce attorney to discuss what you specifically want to achieve through the divorce is an important first step. Be prepared for the divorce process to take much longer to walk through than a typical divorce between lower net worth individuals. This is because there are more things that need to be reviewed, negotiated and agreed to. Special documents may need to be set up, and property may need to be liquidated. Any steps to do so, however, should be completed after the precise terms have been agreed upon by both parties in a formal and signed agreement.
An experienced Manhattan divorce attorney who regularly works with high net worth clients may have knowledge and even creative insight about different ways to structure an agreement. This could potentially help you to achieve the outcome that you desire or to otherwise achieve the closest outcome that is reasonably possible. Remember to consult with an attorney upfront before deciding to hire him or her so that you can learn about fees, experience, success rates and more.