There are many common mistakes that are made during high asset divorces in Suffolk County. Divorce is overwhelming, to begin with, then add a high net worth and the stress of it all begins to skyrocket. At Simonetti & Associates, we recognize that when our clients are going through a high asset divorce in Suffolk County it is important to pay attention to a few specific things in particular.
Settling a divorce that involved individuals of high net worth are more challenging than an average divorce because there are many more assets for the parties to fight over. High asset divorces in Suffolk County require talented attorneys such as Simonetti & Associates because the layer must be able to see the worth in all that is being divided and advise the client on the smartest move to take when choosing what to fight for.
Among the most complicated things about high asset divorces in Suffolk County is scenarios that involve a family business, or running a business together. This is usually a problem because if they want the business to continue each side must equally contribute to the business. Simonetti & Associates says that they need to have the business vaulted to determine the worth and then from there its assets will be assessed. What can also be complicated in high asset divorces in Suffolk County are joined retirement plans such as IRA’s, or 401 K plans, pensions, trusts, and real estate holdings.
Simonetti & Associates says that one of the most important things to do during a high asset divorce in Suffolk County is to make sure you find all of the assets such as homes, cars, boats, businesses, jewelry, etc. This is important because if your ex-spouse is hiding something from you, you will not be getting the fair amount. It is also important not to hide anything from your ex-spouse during a high asset divorce in Suffolk County because this action can be considered illegal, and it can work against your case when trying to separate the assets.
If you are a high net worth individuals and are interested in learning more about a high asset divorce in Suffolk County schedule an appointment with Long Island’s best, Simonetti & Associates. To make an appointment call 877-385-2560 or visit our website at https://bestlongislanddivorce.com .
