Winning Cases Since 2009
Trusted Representation for Difficult Cases in Suffolk & Nassau Counties
If you and your spouse are getting divorced and having trouble agreeing on major terms, such as what to do with your assets, properties, and custody, it is vital that you work with an experienced lawyer. The stakes are especially high when substantial assets are involved because settling the divorce in a fair and reasonable manner can be a long and often painstaking process.
At Hedayati Law Group P.C., our Long Island divorce lawyers represent couples who are facing complex divorce cases involving significant assets, custody disputes, and more. We always listen to your needs to make sure we can provide the best possible solution to your divorce matter, with the least amount of conflict possible.
Elements of a Complex Divorce
In addition to the common issues such as alimony, child support, and custody, high net worth divorces have much more at stake when determining the distribution of marital assets. Determining a fair distribution arrangement can be difficult, as highly valued assets can be subject to various types of tax considerations and complex equitable distribution laws.
Some of the most common issues that arise in complex or high net-worth divorces include:
- Valuation of the Family Businesses
- Division of the Various Properties
- Division of Stocks
- Division of 401(k)s and Pensions
- Enhanced Earnings from Licenses and Degrees
- Uncovering Hidden Assets
- Child Custody/Support Issues
- Spousal Support/Alimony
- Enforcing Pre-Nup and Post-Nup Agreements
Regardless of which party's name is tied to a specific asset, it is to be considered for equitable distribution. It is important to note, however, that even though New York law mandates that marital property is to be divided equitably, this does not always mean that it will be divided equally between the divorcing spouses. The courts will ultimately make their decision based on what they believe is fair.
Separate Property vs. Marital Property
Only property that was acquired before a marriage or after divorce proceedings have begun can be deemed "separate" and can be protected. This can include inheritances, gifts from third parties, and personal injury awards. It is important that these types of property are not commingled with marital assets, as this can nullify the protections they would normally receive and subject them to distribution procedures.
Determining if property is shared or separate is a key part of the divorce process, especially during high net worth divorces. This step involves the cataloging, sorting, and valuation of all property held between the divorcing spouses, usually with the assistance of various accountants, business analysts, and appraisers.