How Would You Describe A High Net Worth Divorce Case? What Makes These Types Of Divorces More Complex?
High net worth divorce cases are more complex due to high income and the considerable amount of assets that were acquired either before or during the marriage. What makes these types of cases so complex?
High net worth cases are more complex than those of marriages who are lower middle class due to the categorization of the assets and money within the marriage. Everything in this world is about money. Living on Long Island is extremely expensive. About 70% or more of the people who live in this area and own homes cannot comfortably afford their lives on Long Island. As a result, the divorce rate skyrockets because of the financial pressure of raising a family on Long Island. Read More
In Your Experience, What Are Some Of The Biggest Mistakes That Someone Makes Or Can Make In A High Net Worth Divorce?
The biggest mistake anybody can make in a high net worth divorce is to hire lawyers without going to mediation first. What should I be looking for in representation for my high net worth divorce specifically when it comes to mediation? Not all mediators, I assume, are created equal.
Mediators are not all created equal. First of all, anybody can hang a shingle and say, “I’m a mediator.” You can have a butcher shop and the mediation room can be in the back of it. Any mediator that a divorcing couple seeks should be an attorney with experience. How much experience? That’s completely up to each individual. It took me about 10 years of practicing matrimonial and family law before I really had a good handle and understanding of what this area of the law was all about. Thus, arbitrarily, I would say 10 years of experience is adequate. Read More
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