NEW YORK CITY & WESTCHESTER HIGH ASSET DIVORCE ATTORNEY
Natalia Gourari has practiced in the field of domestic relations law for over 22 years and has represented business owners, executives and celebrities not only in divorces, but also in custody and financial disputes with their former partners. She works with a multi specialty group to augment her expertise. Owing to her international background, Natalia Gourari has defended clients against child abduction claims and helped structure complex financial settlements involving assets in different foreign jurisdictions. Natalia Gourari is a trusted resource for other domestic relations attorneys when international law issues or trial advocacy come into play. She handles appellate work and is equally efficient and conscientious regardless of the financial ability of her clients. She is a member of Westchester Bar and New York State Bar Association
Protecting The Assets of High Net Worth Families
High asset divorces in New York City can be extremely complex because they often involve businesses, commercial real estate holdings, stock options, and trust funds. With so much at stake, you do not want to be caught off guard. At GourariLaw, we know what it involves, to fit the puzzle pieces of your case together.
Equitable Distribution For A New York City & Westchester High Asset Divorce
New York law divides the marital property of spouses equitably upon divorce. This means that courts are not constrained by any unbreakable rules and can do what is fair based on a variety of factors to be considered. Therefore, the manner how you present your case to the Court is crucial and may determine the outcome of your divorce case. Courts can evaluate your contributions to the marriage and give you certain assets or distribute property in your favor. Alternatively, courts can split everything in half, depending upon how the Judge presiding over your case feels about what is fair to you and to your spouse. When children are involved, courts look at their best interests in how they fashion awards. Therefore, having an attorney with extensive child custody experience is very important. Even though there are rules about how property gets divided and there is case law and statutes, exceptions apply. Unlike contract and commercial cases, divorce cases are extremely factually laden. This is because they involve people’s lives and each life are unique. When stakes are high it is important to maximize your chances for a favorable resolution by hiring a reliable and detail -oriented lawyer who will give you undivided attention in key moments.
Separate Property Pitfalls
An example of how things may get complicated is where separate property is involved. The law is clear that a person’s premarital property and inheritance property are qualified as separate property. Separate property is not generally divided between spouses in a divorce. The owner of separate property keeps the entire asset. But if your spouse uses your inheritance or premarital property to invest in a joint venture this is but one of the circumstances where your separate property has been converted into marital property and can be divided with your spouse.
Another example of how a separate asset may be lost to your spouse is when it is used for marital purposes, such as to pay marital bills. Your attorney will be able to determine if you have sufficient evidence and facts to prove or disprove commingling of marital and separate assets. For this reason it is extremely important to show your attorney all documentary proof so that she could formulate the best possible argument to support your position.
PRENUPTIAL AND POSTNUPTIAL AGREEMENTS
Some people may feel that the outcomes that the law dictates are not fair, which is why having a prenuptial agreement is advantageous. Most high asset individuals have pre-nuptial or post-nuptial agreements in place to protect their wealth, which can simplify the property distribution. If the less monied spouse was not dealt fairly when the prenuptial agreement was signed, this could make things very complicated for the proponent of the agreement
Divorce attorneys at GourariLaw are experienced in high net worth matters and will help you develop the best strategy to protect your wealth, provided you or your spouse are a resident of New York or New Jersey.
THE MARITAL RESIDENCE
NY Domestic Relations Law Section § 236 B specifies the factors that must be considered in determining equitable distribution of marital assets. This includes distribution of the marital residence. If there are minor children, the more likely the court will delay the sale of the marital residence where they children reside or allow the custodian parent to buy out the other parent’s share of it. On the other hand, if a marital home was purchased with funds from the monied spouse, but the marriage only lasted twelve months, the court is unlikely to award 50% of the value of the home to the less monied spouse.
IF THE MARRIAGE IS SHORT OR THERE IS MARRIAGE FRAUD
If there is immigration fraud or some other fraud in the marriage, the court may make each of the parties keep what they originally came to the marriage with and not distribute any assets. In addition, in a marriage of a very short duration, the court may decide that it is not fair to divide the assets that were not jointly acquired. Even though short marriages usually mean a small settlement, Jennifer Lopez shelled out $14 million dollars to Cris Judd, her husband of only nine months of wedlock. Also, when John Cleese and Alyce Faye Eichelberg split up, he had to pay up $19.7 million, plus $13 million in assets that included their New York, London and Santa Barbara homes.
HIGH INCOME DIVORCE
When both spouses are high income earners, the court may also deviate from the general rules of property distribution. This is because the court would take into account future income and abilities of the parties to become self supporting and generate more wealth in the future. In some cases, a spouse with greater net worth but lower income may still qualify as the less monied spouse.
OTHER PROFESSIONALS & EXPERTS
Oftentimes, attorneys consult accountants and financial advisers in deciding how to split the assets best. Attorneys also work with private investigators who help find hidden assets, especially internationally.
Attorneys work with other financial professionals to help the parties structure complicated settlement agreements to cater to the unique needs of high net worth individuals and high income earners.
The best way to protect your wealth during a high asset divorce is to have a your attorney review your marriage history, income history, how you came to accumulate your assets, and give you an informed opinion of what you may be entitled to, as early as you can.
PRENUPTIAL AND POSTNUPTIAL AGREEMENT
GourariLaw works with heterosexual and same sex couples.
INTERNATIONAL DIVORCE
At GourariLaw we speak English, Russian, Spanish and some German. We are uniquely positioned to represent clients with international issues because of the many years working on international domestic relations disputes or where assets are dispersed across the globe.
Call GourariLaw today for a thorough case review.