Financials and Asset Division Divorce FAQs

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Dividing assets in a high-net-worth divorce requires a thoughtful and strategic approach. Common strategies include hiring financial experts to value complex assets like businesses, stock options, and real estate. Consideration must also be given to retirement accounts and pensions, which can significantly impact your financial future. A divorce lawyer experienced in high-net-worth cases will help you protect your assets while ensuring a fair division that reflects your contributions and needs. 

Protecting your retirement savings during a divorce is essential, especially if you’ve accumulated significant assets over time. In New York, retirement accounts are subject to equitable distribution, meaning they may be divided between spouses. A Qualified Domestic Relations Order (QDRO) can be used to divide retirement benefits like pensions or 401(k)s without triggering tax penalties. Working with a divorce attorney and financial planner will help you safeguard your retirement savings. 

If you're a business owner, the value of your business will be considered in the division of assets. The process typically involves hiring a business valuation expert to determine the value of your company. Depending on whether your business is marital or separate property, it may be divided, or one spouse may buy out the other. A lawyer specializing in business valuations and high-net-worth divorces will help you navigate this complex issue and ensure a fair outcome. 

Stock options, investments, and other complex financial assets are often subject to division during a divorce. These assets may require expert evaluation to determine their value and potential tax implications. A skilled divorce lawyer will work with financial professionals to ensure that your investments are properly accounted for and divided fairly. Protecting these assets requires careful legal and financial planning to secure your financial future.