White Plains Divorce Lawyer Protects the Interests of New York Spouses
Westchester County firm has substantial experience handling complex issues
Divorce is difficult in many ways, and the conflict is often magnified when substantial assets are involved. Located in White Plains, Martin J. Rosen, P.C. works to make sure clients receive knowledgeable counsel from a family lawyer who has more than 50 years of experience delivering strong advocacy to residents of Westchester, Dutchess, Rockland, Putnam and Orange counties. Mr. Rosen helps divorcing spouses pursue fair terms relating to parenting and financial arrangements. When possible, the firm works to resolve divorces outside of court so clients can avoid burdensome expenses and move forward with their finances and well-being intact.
High net worth divorce
Divorce forces couples to unwind the financial ties they’ve created over years or even decades. As the value of the marital estate increases, so do the potential complications. High net worth couples might own multiple properties, expensive cars, pleasure boats and valuable artwork. Even agreeing on the value of these substantial assets may take months and involve significant legal wrangling. This is when it is critical to have an attorney familiar with the specific challenges presented by high net worth divorces. Martin J. Rosen has decades of experience handling these cases in Westchester County and throughout the Hudson Valley. He offers exceptional insight not only in property division disputes but also as to how custody, visitation and alimony terms are different when spouses possess substantial means.
Asset division
When dividing assets during divorce, it’s important to understand the distinction between marital and separate property. Most assets that are accumulated after a couple has wed are considered marital property that is to be distributed among the parties, even if just one spouse earned the income or obtained the asset. However, inherited wealth left to one spouse is usually classified as separate property and treated in the same way as assets owned by one party prior to the marriage. Separate assets remain in the sole ownership of the individual following the dissolution of the marriage.
Spouses who cannot agree on a property division settlement will have their assets and debts allocated under New York’s equitable distribution rule. This means the judge decides what is a fair allocation. The value does not have to be divided equally. Assets that are subject to an equitable distribution order include:
- Real estate, including vacation homes and investment properties
- Cars, trucks, boats and other vehicles
- Bank accounts, stocks, bonds and other investments
- Business ownership shares
- Retirement plans, such as 401(k) accounts, and pension benefits
- Personal property, including jewelry, art works and antiques
In complex divorce cases, you need an attorney who has experience securing successful results in matters involving various types of high-value assets. Martin J. Rosen draws on decades of experience with these cases to benefit Hudson Valley clients.
Handling the asset division process and averting common errors
For high net worth clients, asset protection is a key concern. Unfortunately, divorces are often emotional and even spouses with a great deal of financial knowledge sometimes make harmful mistakes. It is best to consult with an experienced attorney as soon as possible so you can develop an accurate perspective on marital assets and liabilities. If you are concerned about your spouse hiding assets, further investigation might be warranted. Don’t assume that no news is good news. No matter what you suspect about your spouse, it is best to remain straightforward about property matters and concentrate on making the strongest possible case for an appropriate resolution either through negotiation, mediation or litigation.
Alimony and maintenance
Families of means often have significant household expenses and assets can be difficult to access during and after a divorce. Accordingly, someone who is accustomed to a certain lifestyle could face financial stress if they relied upon the income of their ex-spouse. To address this situation, a court can award that maintenance payments, often referred to as alimony, be made to a dependent wife or husband. These payments can be negotiated by the parties or decided by the judge if consensus cannot be reached. Should the case go to court, the judge will look at various factors, including the duration of the marriage, the shared parenting expenses and the individual earning ability of each spouse. Modifications are possible if circumstances change but it is vitally important to secure a fair initial order. Whether you are seeking maintenance or you believe the payment terms requested by your spouse are excessive, Mr. Rosen can carry out an effective strategy in negotiation and/or litigation.
Contact a proven Westchester County divorce lawyer to discuss your case
Martin J. Rosen, P.C. in White Plains offers comprehensive divorce representation to clients in Westchester, Rockland, Putnam, Orange and Dutchess counties. Please call 914-761-6300 or contact the firm online for a consultation.
