Staten Island High Net Worth
Divorce Lawyer
Staten Island High Net Worth Divorce Attorneys
Divorce is hard enough on any family, no matter what the circumstances are, but a high net-worth divorce case can be even more straining on a family. Any Staten Island family lawyer will agree that cases that involve one of the spouses having at least one million dollars in assets are some of the hardest types of divorce cases due to the equal distribution and separation of marital property.
Hiring an experienced lawyer to represent you, advise you, and support you with a full and comprehensive understanding of NY state laws is the most beneficial thing you can do for your case. The Law Offices of Robert Tsigler, PLLC, is an experienced and successful Staten Island law firm ready to hear your case and represent you if necessary. We take a dedicated and focused approach to all our cases, especially those related to family law and high-asset value divorces. We understand what is at stake and are prepared to help you obtain a favorable outcome for your case and are committed to our client’s cases 24/7.
Equitable Division of Marital Assets and Liabilities
The equitable division of assets that were acquired during the marriage often gets very complicated, especially because many assets are not monetary. It is difficult to have to determine the value of your marital assets and then determine a fair division of them. For this reason, while it may seem daunting, a list of both spouses’ assets must be composed accurately and truthfully and submitted to the court as a sworn document. This detailed valuation of assets makes it much easier to divide property when it comes time to do so.
Child Custody, Child Support, and Alimony
While the division of property seems to be the biggest issue in high net-worth divorce cases in Staten Island, it is not the only issue you will have to agree on or let a judge decide on for you. Child custody, as outlined in a parenting plan, will need to define parenting time and legal and physical arrangements for your children’s custody.
Another area in which the agreement benefits everyone involved is that child support is mandatory in NY. The non-custodial parent will pay support to the custodial parent to cover the living expenses, activities, and other basic needs of the children. NY courts use a specific formula for calculating child support payments, and it is not typically up for negotiation. If you and your spouse can come to an agreement that is in line with state requirements and to the optimal advantage of your children, a judge can sign off on your parenting plan without the need for a trial.
Spousal support, also called spousal maintenance, is not mandatory, unlike child support. It may or may not be part of your divorce agreement; however, when the spouse that contributed to the marriage for many years but missed out on securing a career or earning potential needs financial support, the courts usually oblige. It must be proven and can be disputed with the right high-net divorce attorney representing your case.
If you and your spouse cannot come to terms with child support, it will be up to the court to decide this important matter that will affect your family. An experienced mediator and family lawyer can often motivate both sides to compromise in matters such as child support and spousal support when all else fails. It’s at least worth trying before you turn to a trial in NY courts in front of a judge as a last resort.
Family Law Divorce Lawyers FAQs
Q: How Can I Protect My Net Worth From Divorce?
A: If you haven’t married yet, a prenuptial agreement can protect your net worth from divorce. However, if you did not obtain a prenup, you can still move forward with your situation as it is and try to find common ground to agree on the terms of your divorce. You should never hide assets, but it is okay to mutually separate your money into separate bank accounts.Q: Can I Empty My Bank Account Before Divorce?
A: You can empty your bank account before divorce, but you shouldn’t. The court will discover that you did so, and you could be subject to consequences such as penalties, fines, and additional court costs, especially if it is done to harm your spouse. You will lose credibility in the eyes of the court, so it is recommended not to withdraw your money before getting a divorce.Q: Can Divorce Ruin You Financially?
A: There are some things that can substantially shake your financial stability in divorce proceedings if you’re not careful. For instance, if you have to split your 401k with your spouse, you could be hit with severe tax-related costs that could be a significant blow to your financial situation. Being careful during a divorce is the only proven way to protect your assets, and a divorce attorney can be an even better resource.Q: How Much Alimony Will I Get In NY?
A: In divorces of marriages that last up to 15 years, you will receive maintenance for 15-30% of the length of the marriage. For instance, a 10-year marriage will necessitate maintenance for anywhere from 1.5 to 3 years. The percentage rises to 30-40% for marriages that lasted for 15 to 20 years. You can use the state’s alimony calculator to find the exact payment amount entitled to you, but there is a max cap of $203,000 for spousal support in NY.Seeking Legal Advice From an Experienced Law Firm
If you think you’re headed for divorce court in Staten Island, and you or your spouse has at least one million dollars worth of marital assets, you owe it to yourself to consult with a high-net-worth divorce attorney. You can learn a lot about your case by speaking to a family lawyer who knows state laws extensively. Call the Law Offices of Robert Tsigler, PLLC, and schedule an appointment to discuss your options and determine the optimal way to approach your case.
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