Divorce is rarely simple, and for couples with significant assets who live in a world-class city like New York, the process can seem like a disaster waiting to happen. This does not have to be the case, but without proper guidance, it very well could be.
Living in a large city is innately more expensive and complicated, making it more difficult to determine how to fairly divide your marital assets and where each of you will land after finalizing the divorce.
For these reasons and many more, it is crucial to choose legal counsel that understands the intricacies of complex marital assets. Some couples may be able to sign a few papers and call it quits. However, the potential for a costly or litigious error is significantly greater for those who are fortunate enough to have significant assets between them, even if there are no children in the marriage.
Furthermore, even if two spouses agree on a particular asset division, a judge may not approve the settlement if it greatly favors one spouse over the other, It could drag your divorce out much longer than is necessary, and diminish your assets further.
If you are ready to have an efficient, fair divorce in the Big Apple, be sure to choose representation who knows how to approach complex assets professionally. This can ensure a smooth transition for both of you.
Each divorce is different
Determining a fair settlement is harder when you have complex assets. It can also get more complicated when family and friends put pressure on you or your ex to preserve a certain asset or prevent a spouse from taking part of it.
Do you have retirement plans? Investments? Real estate holdings? Do you run a business? None of these issues are simple. From a distance, it may seem possible to simply say "split everything in half and move on," but that is neither practical nor fair.
Real estate is difficult to split in half without selling, but who wants to remain tied to a former spouse through continued co-ownership? Similarly, investments you made while married may merit different treatment from investments that existed before your marriage, and retirement plans are an entirely different matter altogether.
What if one of you owns a business? Is it a priority to maintain the business and sacrifice other assets?
Furthermore, dividing marital property is not just about assets, but also includes liabilities. When it comes to a fair division of debt, suddenly not everyone is as interested in splitting everything in half and moving on - but the court will certainly want to address the issue.
With proper legal help, everyone can win
A divorce does not have to be a bitter battle where both sides bleed each other dry. Proper legal counsel from an experienced attorney can enable you and your spouse to divide even the most complicated assets and liabilities. That way, you will both be able to start a fresh new season of life in a city with room enough for everyone.