NYC High Net Worth Divorce Lawyer
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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.
To seek assistance from NYC high net worth divorce attorney Paul Rudder, call (212) 826-9900 or contact us online to set up a consultation.
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.
Contact Paul E. Rudder today to begin discussing your high net worth divorce case. Call (212) 826-9900 or click here to schedule your consultation.
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.
What Does High-Valued Community Property Mean in a High Net Worth Divorce?
When a divorcing couple has high-valued community property, it can be more complicated to divide up those assets fairly. Community property is essentially any asset or debt that was acquired during the course of the marriage.
In a high net-worth divorce, there may be a lot of complex financial considerations to take into account. For example, how will the sale of a shared business be divided? Or who will get custody of the family’s luxury home? Skilled attorneys like Paul Rudder Esq. can help couples negotiate these complicated questions and other important decisions — even if young children are involved.
If you have a high-valued community property, and you are contemplating getting a divorce, you will definitely need access to an experienced divorce attorney — who has dealt with this type of divorce case.
When it comes to the splitting of assets during a divorce in New York City, it’s important to understand what is considered “high-valued.” In general, any assets or property that has a value of over 1 million is considered high-value and will be subject to different considerations during the divorce proceedings.
If you’re going through a divorce and your spouse is trying to claim some or all of your high-value assets as their own, it’s important to have a clear understanding of how they are classified and what protections you may have.
To learn more about the intricacies of this type of divorce, contact an experienced high net worth divorce lawyer NYC for more information like Paul Rudder Esq. Call (212) 826-9900 or contact us online to schedule a consultation.
Here are a few high-valued community properties that are commonly divided in a high net-worth divorce or assets a divorce lawyer can help you protect:
- Real estate
- Mutual funds
- Stocks and other financial accounts
- Retirement savings
- Vacation properties
- Boats & luxury vehicles
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.
How Is Property Distributed In A High Net Worth Divorce Case?
When you’re seeking a high-asset divorce in New York, it’s important that property is divided on the basis of “equitable distribution.” This does not mean your share will be divided in half.
The judge considers both spouses’ needs following separation and what they’ve contributed while married – which means each person can walk away with more than they had before!
Do you have questions about high net-worth divorces? Here are common questions many of our clients have asked:
FAQ #1: How much does a high net worth divorce lawyer cost?
A high net-worth divorce lawyer will cost more than an average divorce. A divorce lawyer will normally charge based on the complexity of your divorce.
FAQ #2: How long does a high net-worth divorce take in New York?
A high net-worth divorce normally takes 3 to 6 months. However, it depends on the complexity of your divorce case.
FAQ #3: How are retirement accounts divided during a high net worth divorce?
The judge will more than likely cut your retirement account amounts in half.
FAQ #4: Who is more likely to suffer the most in a divorce?
Experts say men are more than twice as likely to suffer from depression than women after getting divorced.
FAQ #5: Why are high net-worth divorces more complex?
High net-worth couples tend to have more complicated assets that can be difficult to value and split. For example: retirement accounts, investment accounts, real estate, and more.
Nobody enters into a marriage thinking that it will end in divorce, but sometimes it is the best option for both parties involved. If you are considering getting a divorce, it is important to understand the process and what to expect.
There are many divorce attorneys out there, but not all the same.
Finding a good high net worth divorce lawyer NYC will increase your chances of getting a favorable outcome. Most of all, it will protect your assets.
For a consultation, give us a call at (212) 826-9900 or contact us online today!