When couples in New York make the decision to get divorced, they often are faced with a very difficult and emotional situation. While all divorces have certain complexities, couples who have a high net worth often have an added level of difficulty because of the nature of their assets. A high net worth couple or individual is someone who has more than a million dollars in assets. If the couple cannot agree on how to divide these assets, they will have to do so through a process known as equitable distribution. During equitable distribution, a judge will divide the assets in a fair and just manner amongst the couple. However, this does not mean that the assets will necessarily be divided evenly.
Some of the difficulties that high net worth couples often run into during divorce occur when they have to address the following assets:
- Retirement and pension plans, including IRA’s, 401k’s, and stock options
- Multiple real estate properties
- A stock portfolio, bonds, and other investments
- Business ownership or business partnerships
Of course, no one wants to lose what they have worked so hard for over the years. Sometimes, assets can be protected by a prenuptial agreement. It is important to retain the services of an experienced divorce attorney that can effectively represent your interests. Contact us today.
Our firm proudly serves clients throughout Rockland County, New York when they require compassionate and effective legal guidance. If you require experienced legal representation for any of your divorce and family law matters, contact the Law Offices of Mark S. Paige, P.C. today to schedule a consultation.