What You Need to Know About High Net Worth Divorce in Nassau County
Going through a divorce is among the most challenging times in a person’s life. However, if you are a high net worth individual, the physical, emotional, and, perhaps most of all, the financial aspects of your divorce will most likely be greatly accentuated. If you or your spouse are a high net individual, meaning you have more than $1 million in net liquid assets, you will most likely enter a high net worth divorce. High net worth divorces are oftentimes extremely complicated, document-heavy processes, which is why if you are a high net individual, you must read on and reach out to our experienced Nassau County divorce attorney to learn more about how our firm can help you through the legal process going forward. Here are some of the questions you may have:
What do I have to lose in a high net worth divorce?
As a high net individual, you will most likely have several crucial assets at stake, on top of all the “standard” financial issues that often accompany “standard” divorces. For example, you may have to worry about jointly-owned businesses or investments. In other cases, you and your spouse may own several properties, all of which will most likely be subjected to equitable distribution. High net individuals oftentimes have retirement accounts, benefits, stocks, and more to worry about, and these divorces frequently call on outside parties to examine the ins and outs of your marriage and financial situation, including financial analysts, forensic accountants, and more, which is why you must retain the services of a seasoned Nassau County divorce attorney who is ready to fight for what is rightfully yours.
What should I do to secure my assets from a high net worth divorce?
Though high net worth divorces can be detrimental to an individual’s financial situation, there are certain precautions you can take. For example, before marriage, you can draft a prenuptial agreement, which essentially outlines which assets you are entitled to, should your marriage ever end in a divorce. If you are already married, however, you can still create a postnuptial agreement. Additionally, spouses that co-own businesses can create shareholder agreements, which detail exactly what will happen with your business, should the two of you ever get a divorce. No matter your situation, if you require the legal assistance of a knowledgeable, compassionate, and aggressive Nassau County divorce attorney, you know where to turn.
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) 342-3575.