High Net Worth Divorce in Nassau County
A high net worth divorce occurs when a couple has combined assets of $1 million or more. These divorces are categorized differently because there are more assets involved, potentially complicating the divorce process. High net worth divorces include all the same issues of a regular divorce: child custody, child support, alimony, etc. But, when it comes to the division of assets, there is more at stake. For this reason, high net worth divorces can be long and complex. Read on to learn more about high net worth divorce in Nassau County, what they entail, and the best ways to protect your assets.
A good way to protect your assets is with a prenuptial agreement. A prenuptial agreement is a legal document, created before your marriage, that states how a couple’s assets will be divided in the event of a divorce. A lot of couples shy away from prenuptial agreements because of the negative stigma associated with them. In reality, a prenuptial agreement can be a great benefit to both you and your spouse and in no way indicates a future divorce. If you do not create a prenuptial agreement before your marriage, you can create a postnuptial agreement instead. This is the same document, with the same purpose, but it is created after the marriage rather than before. If you are interested in creating a prenuptial or postnuptial agreement, contact our firm today.
A Dicey Discovery Process?
During a high net worth divorce, both couples will need to present all of their assets. If something appears not to add up, a forensic accountant may need to conduct an investigation. If the forensic accountant were to find anything suspicious, it would be reported to the court. The court would need to report this information to the IRS, potentially prompting an investigation. This could cause even more legal trouble, in addition to your divorce, so it is important to be honest about your assets.
What Assets are Considered?
When it comes to a high net worth divorce, some of the assets that may be considered include:
- Real estate properties
- High profile possessions
- Professional practices
If you are a high net worth individual facing the prospect of divorce, it is important to reach out to a skilled divorce attorney. If you have any questions or concerns regarding your divorce, contact our firm today.
Contact our experienced Nassau County firm
The Pollack Law Firm, P.C., rated Nassau County’s “BEST” divorce lawyers and proudly serving clients in Nassau and Suffolk County for more than 22 years, is always available to assist and represent parties in divorce, separation and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis: (516) 938-3330.