NYC High Net Worth Divorce Lawyer
Divorce can be complicated and extremely trying, and a high-net-worth divorce is even more stressful and complicated. NYC high net worth divorce lawyer Paul Rudder has the experience and skills to provide legal services to all his clients. He has significant experience handling high net worth cases in New York City, both in preparing pre-nuptial and post-nuptial agreements as well as negotiating settlements in divorce proceedings. His expertise, sensitivity and understanding of complex financial matters establishes him as attorney of choice for high-value assets divorce cases in NYC. His experience in property valuation and asset division assures you of the highest quality legal representation in these areas.
Paul Rudder offers unique services to his clients:
- Every case selected is handled from beginning to end solely by Mr. Rudder
- He is available to his clients during their times of crisis
- He is very clear and thorough in his explanations of law and all options as well as potential outcomes
- He is creative and unique in his approach to difficult or complex situations
- He is an excellent litigator and gets results for his clients in the courtroom
- He understands assets and property valuations and can provide expert legal counsel in these areas as well as other issues in high net worth divorces
- He understands the financial and emotional toll a divorce has on his clients and he is sensitive and supportive to their needs.
Cases that involve distribution or division of numerous and substantial assets require special skills and expertise to ensure proper valuation and accounting. These issues may also arise in challenging prenuptial agreements. Other concerns to consider in a High Net Worth Divorce, include professional practice valuation, business and partnership assets, debts, investments, stock options, retirement funds, deferred compensation, and tax obligations.
What Is Considered A High Net Worth Divorce in New York?
The unfortunate truth is, divorce is rarely simple. When a marriage is dissolved, the ex-spouses must divide up properties, assets, and even debts. While every divorce will deal with the same issues as other divorces such as dividing assets, splitting child custody, and paying child support or maintenance, if you are about to be involved in a high net worth divorce in NYC it is important you work with a lawyer who is familiar with the intricacies of this type of divorce.
A high net worth divorce is typically defined as a divorce that involves more than one million dollars in net liquid assets. This type of divorce case is usually governed under New York law with equitable distribution of marital assets. Today, that amount is generally much higher, and NYC high net worth divorce attorney Paul Rudder often deals with divorces that involve much higher liquid assets.
In New York State, when dealing with equitable distribution of marital assets, the process generally follows the following steps:
- Identification of assets
- Categorization of assets (marital, separate, combination of both)
- Value of the marital assets
- Distribution of the marital assets equitably between both parties
High-net-worth divorces can be extremely complex. Mainly because it’s connected to the valuation, distribution and identification, and of a couple’s assets. Paul E. Rudder has the experience handling high-net-worth divorce cases. He understands the risks involved especially when you have worked so diligently to attain your wealth.
Marital Property and High Net Worth Divorces
The division of marital property is one of the biggest legal issues in a high net worth divorce. Since New York State is an equitable distribution state, this means that marital property must be split in a fair and just manner. Keep in mind that this does not always mean an equal split of assets. The court will decide between and identify marital and exempt property to establish what assets are to be allocated. For example, marital property is an asset brought into the marriage or acquired during the marriage. While exempt property is generally considered anything acquired before the marriage.
Uncovering Hidden Assets
During the discovery process, we will fully investigate your case to ensure that you are getting what you deserve. Whether assets are being held offshore, under the guise of a separate business, or held under a relative’s name, we are dedicated to gathering everything there is to know and be sure all assets are accounted for.
Since the risks are so great with high net worth divorces it’s advisable to get a prenuptial agreement prior to getting married. Of course, not everyone has a high net worth at the time of entering marriage, but if you are, it is an ideal way to protect your assets.
Common Mistakes in High Net Worth Divorces
The biggest mistake an individual can make when it comes to a high net worth divorce is not hiring a good attorney who is familiar with this type of divorce. The risk of error is even greater with high net worth divorces, that can affect you long-term, so be sure you hire a divorce attorney who can advocate for you effectively.
Another common mistake is hiding assets, such as transferring money to a business partner in an effort to hide money. These actions can be considered fraudulent and will cause the individual to lose credibility in court.
A third common mistake is making emotional decisions without taking the time to review all of the risks and financial considerations. A good attorney will help guide you through the decision-making process to ensure you are not agreeing to terms that may hurt you in the long run.
Child Custody and High-Net Worth Divorces
Paul Rudder’s particular expertise in the area of child custody and his success in negotiating resolutions between contentious parties while serving the best interest of the child has resulted in his unique understanding of the various dynamics between parents in conflict as it affects the welfare of children. Mr. Rudder has been selected, upon the request of his peers, and upon appointment by judges, to represent children in high conflict custodial cases as the Court Appointed Child attorney.
Contact An Experienced High Net Worth Divorce Attorney in NYC Today
If you are getting married and want to learn more about how hiring an experienced high net worth divorce lawyer in NYC can help you, contact Paul E Rudder, Esq. today! Mr. Rudder has over 30 years of experience helping individuals in their high net worth divorces in New York. Call (212) 826-9900 or contact us online to schedule a consultation.