High Net-Worth Divorce FAQ
Experienced Long Island Divorce Lawyers
Wisselman, Harounian & Associates caters to the unique needs and demands of all clients, including individuals and couples with high net worth. As we receive many inquiries about the unique nature of high-income divorce cases, our legal team has answered a few of the most common questions we receive from our clients:
Why are high net-worth divorces considered to be more challenging?
High net-worth divorces are considered more challenging because they entail complex financial issues and significant assets. These matters can create difficulties in equitable distribution of assets and liabilities and may lead to hotly contested issues.
What issues are addressed?
As high net-worth divorce cases have more at stake for both parties and for families as a whole, it is strongly encouraged that couples work with experienced attorneys who can fully evaluate and address all issues. These may include, among others, the division of assets and liabilities such as businesses and investments, as well as spousal support. If there are children, our legal team will also assist in securing arrangements for child custody, child support, and visitation.
Are there alternatives to litigated divorce?
Although litigated divorce is a common approach for all types of divorce cases, there are alternatives. These options often include mediation and divorce settlement. Mediation involves a neutral third party – a mediator – who assists both spouses in reaching amicable agreements for all related matters, including property division, and child custody and support. Divorce settlement – or collaborative divorce – involves each party being represented by an attorney in order to reach an out-of-court settlement.
Which option is best for my high net-worth divorce?
Just as all marriages and families are unique, so are divorces. As such, determining which option is best will require a full evaluation of your situation, needs, and goals. Our legal team takes the time to understand our clients and what they wish to achieve in order to determine an approach that will help resolve divorce matters in a fair and equitable manner.
Personalized Consultation with Our Long Island Divorce Attorneys
If you have more questions about the divorce process, high net-worth divorce concerns, and how our legal team can be of assistance, do not hesitate to reach out to our firm. We are available 24 hours a day to take your call, and we offer evening and weekend consultations.
To request a free consultation, call (516) 406-8500.