Pittsford High Asset Divorce Lawyer

Pittsford High Asset Divorce Attorney

Most couples do not enter a marriage with the intention of divorcing at a later time. During a divorce, it’s understandable that tensions between the divorcing individuals can sometimes be extremely high. This can be especially true when there is a significant amount of marital property shared by the divorcing couple. If you have a considerable amount of wealth and are heading for a divorce, it’s important to consult with a Pittsford high asset divorce lawyer.

At Trotto Law Firm, P.C., we have experience representing clients in high net worth divorce cases. We understand the additional stress and complications that come with dissolving a marriage in which the parties share a large estate. In these unique divorce cases, it’s important to be proactive in your legal strategy and seek legal guidance early on. Learn how we can help you through the process of a high net worth divorce in Pittsford, New York.

What to Consider in a High Asset Divorce

A divorce is essentially an end to a legal contract of marriage. To obtain a divorce in New York, there are many aspects you need to consider before the process can proceed. Some aspects of divorce to examine include:

• Uncontested or contested divorce. The state of New York allows for contested and uncontested divorces. In uncontested divorces, the estranged couple must agree to the divorce and the terms of the divorce. If reaching an agreement is not possible, then the other option is to pursue a contested divorce, in which a judge rules on the terms of the divorce.
  Uncontested divorces are typically the faster option for finalizing a divorce, but contested divorces can be helpful if your estranged spouse is not willing to negotiate the divorce terms or if you feel that their expectations for the divorce agreement are unjust.
• The division of marital property. Assets and property that were gained by one or both parties during the course of their marriage are considered marital property, with some exceptions. Marital property is divided according to the equitable distribution law in New York and not necessarily 50/50 between the divorcing couple. An attorney can help you understand which property and assets you own are considered marital property.
• Spousal maintenance. Sometimes referred to as alimony, spousal maintenance is money that an ex-spouse might be required to pay to their former spouse after their marriage ends or temporarily during the divorce process. Deciding whether to pursue spousal maintenance or recognizing that your estranged spouse might seek a maintenance order are important aspects to keep in mind when facing a high net worth divorce.
• Child support and custody. If you share minor children with your spouse, you must determine how child custody and visitation will be arranged as part of your divorce agreement. Additionally, determining how the child will be supported financially is a key part of the terms of a divorce. According to the law in New York, children have the right to the same standard of living as both of their parents.
• Costs of legal fees. Divorces come with certain expenses, including fees for filing divorce paperwork with the court and the costs of legal representation. You may be responsible for half of these expenses. In certain divorce cases, one party might seek an order that the other spouse be financially responsible for covering all the legal costs associated with the divorce.

The legal team at Trotto Law Firm, P.C., can work with you to identify all the aspects you need to consider in your high asset divorce case in Pittsford, NY. We can help you decide the right approach for dissolving your marriage.

FAQs

Q: How Much Does an Uncontested Divorce Cost in NY?

A: The cost of an uncontested divorce in New York varies based on the specific circumstances of each divorce case. Factors such as your income, the number of minor children you share with your spouse, and the length of time you were married can all affect your total financial responsibility for obtaining an uncontested divorce. While an attorney can be an additional cost, having legal representation can help you achieve a better outcome for your case.

Q: What Is the Average Retainer Fee for a Divorce Lawyer in NY?

A: The average retainer fee for a divorce lawyer in New York depends on the lawyer’s experience. The outcome of a divorce can have a significant long-term impact on all areas of your life. For this reason, it’s important to think of hiring a divorce lawyer as an investment in your future. Jonathan C. Trotto, the owner of Trotto Law Firm, P.C., offers reputable legal services and has the knowledge of New York divorce law that you can trust for your future.

Q: How Much Wealth Do You Lose in a High Net Worth Divorce?

A: The amount of wealth you lose in a high net worth divorce will differ by your unique financial situation. The courts in New York divide property according to the equitable distribution law, which is not always 50/50. There are more than a dozen factors that the court takes into consideration to determine how marital property will be divided after a divorce.

Be prepared to provide a Statement of Net Worth to disclose the aspects of your financial situation when going through the process of divorce.

Q: How Bad Is Divorce Financially?

A: The severity of a divorce from a financial perspective can range from minimal to significant. You might be required to pay your legal fees and your ex-spouse’s legal fees in addition to long-term or temporary spousal maintenance. In other circumstances, you might be the spouse who is awarded the spousal maintenance. Because every divorce is unique, it’s wise to talk to an attorney to recognize the potential financial outcome of your divorce case.

Legal Representation for Your High Asset Divorce in Pittsford

Trotto Law Firm, P.C., understands the intricacies of divorces for high net worth couples. Your wealth could be at risk if you’re facing a divorce. When you work with us, you have a better chance of maintaining ownership of the property and assets that are rightfully yours, according to divorce laws in the state of New York. Contact us today for a consultation.