What is a High-Net-Worth Divorce?
A high-net-worth divorce has traditionally been defined as a divorce involving more than one million dollars ($1,000,000.00) in net liquid assets. Today, the amount has substantially increased, and more and more cases involve multiple millions of dollars. Nolletti Law Group routinely handles such divorce cases.
Under New York law, the equitable distribution of marital assets is generally a four-step process:
- Identify all assets;
- Categorize each asset as either marital, separate, or a combination of both;
- Value the marital components of each asset; and
- Distribute marital assets equitably between the parties, while taking into consideration the concept of “tax-impacting.”
A high-net-worth divorce usually involves unique challenges which are largely related to the identification, valuation, and distribution of the couple’s assets.
Those who have worked hard to acquire this level of wealth have more at risk than others. High-net-worth individuals need an attorney with experience handling these types of cases to reduce their risk and ensure that the end result is a full and fair asset distribution.
With decades of experience handling complex financial issues in divorce, the seasoned family law attorneys at Nolletti Law Group offer superior expertise and care to our high-net-worth clients. Our culture of excellence demands that we deliver exceptional work and client service in the most efficient manner possible.
Individuals facing a high-asset or high-net-worth divorce have exponentially more at stake than their middle-income counterparts. Our family law firm offers peace of mind to our clients involved in high-stakes divorce.