Long Island High Net Worth Divorce Lawyers
Firm in Hauppauge and Garden City handles complex marriage dissolutions
Ending a marriage is rarely simple, but spouses who share substantial assets could face an even more complex process as they seek to resolve issues relating to property division, alimony and child support. At Tabat, Cohen, Blum, Yovino & Diesa, PC, we are Long Island high net worth divorce lawyers who have successfully guided wealthy clients for decades through New York family law matters. From offices in Garden City and Hauppauge, we develop comprehensive strategies for spouses who want to safeguard their lifestyle and financial interests as they begin a new chapter in their lives.
Dividing high-value property during your Long Island divorce
New York uses the equitable distribution method of dividing property when the couple cannot reach an agreement, so assets and debts are divided based on what the judge thinks is fair. This process can become very complex and contentious during high net worth divorces as couples might have significant disagreements over items such as:
- Real estate, including vacation homes and investment properties
- Business ownership stakes
- Investments and retirement plans
- Trust funds
- Substantial inheritances
- Valuable furniture, artwork and antiques
Our Long Island divorce lawyers have extensive experience representing parties in high net worth breakups. We’ll advise how a judge might rule given the facts in your case and help you determine what is the best way to proceed.
Why a high net worth divorce is different from other divorces
High net worth divorces present special challenges, particularly in regard to the valuation and dispersal of marital assets. Accomplished people often have diverse portfolios, some of which might be tied up in stocks or other holdings where the value can fluctuate considerably in a short time. Property owned prior to the marriage, child custody considerations and even arrangements related to exotic pets might require consultation with subject matter experts.
Common mistakes in a high net worth divorce
Making an error during your high net worth divorce could harm you financially for years to come. We work closely with Long Island clients to help them avoid common mistakes such as:
- Valuing assets inaccurately
- Failing to locate hidden assets
- Accepting an unfair settlement
- Ignoring potential tax consequences
- Providing incorrect financial information
No matter what your situation entails, it is important to enter the marriage dissolution process with an open mind. You cannot assume that your divorce will be friendly or hard fought. Sometimes, the result might require a change in your lifestyle, but getting advice early on from a qualified New York attorney is the best way to achieve your objectives.
Protecting assets during a high net worth divorce
For many successful individuals, protecting a business from divorce is a key priority. After learning about your critical priorities, our firm works diligently to finalize a resolution under which you can keep what is most important to you. That might mean retaining title to a first or second home, securing an inheritance or maintaining the largest share possible of your 401(k) or another type of retirement account.
Complex child custody and support issues for Long Island parents
Parenting arrangements might be more complicated for families of means. Child custody and visitation terms need to suit the needs of children as well as the busy schedules of mothers and fathers. Private school tuition, camp costs, extracurricular activities, vacations and club memberships might need to be considered during child support negotiations for wealthy couples. Whether your child is young enough to warrant a nanny or you’re thinking about funding higher education, our firm offers comprehensive guidance.
Contact a Long Island attorney for a consultation on your high net worth divorce
Tabat, Cohen, Blum, Yovino & Diesa, PC represents clients in high net worth divorces and other New York family law proceedings. Please call 631-587-5100 or contact us online for an appointment. Our offices are in Garden City and Hauppauge.