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New York high-asset divorce dispute

In New York and elsewhere, there are numerous couples who may find themselves in the midst of high-asset divorce cases. Unfortunately, the property and asset division phase of dissolving a marriage can lead to a major divorce dispute. With assistance, it is possible for those in this type of position to resolve any issues and negotiate terms that both sides believe is fair.

High-asset divorce cases can be difficult to resolve quickly. This is, of course, unless a couple has a prenuptial agreement that neither party is contesting. The simple truth is, those with significant assets may have those assets spread out in various places — places that most people do not typically invest.

When seeking a divorce, assets are supposed to be fully accounted for in a list that has been compiled and made available to both parties. In some cases, financial advisers are needed to help locate and appraise certain assets. While some may not want to involve yet another party in divorce proceedings, failing to take this step may result in one spouse not receiving his or her fair share of marital property.

A divorce dispute regarding high-asset property division, though it may be difficult to get through, does not have to drag on — a settlement can be accomplished in a relatively timely manner. A divorcing couple, whether in New York or elsewhere, can employ legal, financial or any other representatives deemed necessary in order to resolve a dispute. By allowing such individuals to get involved, assets can be fairly and appropriately divided in a way that is deemed satisfactory by both parties.

Source: Forbes, “When The Wealthy Divorce, They Regularly Engage Forensic Accountants”, Russ Alan Prince, Sept. 22, 2015

Important Information

COVID-19 (Novel Corona Virus)  Update 3-20-2020

By order of Governor Andrew Cuomo, beginning 3-22-2020, all non-essential business in New York state must close their physical offices in response to the rapid rate of positive reported cases of COVID-19 in New York State.

Although this will impact the in office and in person services that LIT can provide, we will still be working remotely from our homes to serve our existing clients and we will continue to serve the public on a remote basis with any new legal matters for which they may need assistance.

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May all of you and your loved ones be safe and well .

Larkin, Ingrassia & Tepermayster, LLP

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