High Asset Divorce Attorneys on Long Island
When a marriage involves a closely held business, equity compensation, multiple properties, or seven-figure retirement accounts, the hard part of divorce is rarely the divorce itself. It’s the valuation.
New York divides marital property by equitable distribution, not by an automatic 50/50 split. Under Domestic Relations Law § 236(B), a judge weighs statutory factors to reach a fair division — which may or may not be equal. In a high-net-worth case, nearly every one of those factors turns on a number that competing experts must establish, defend, and sometimes fight over.
Simonetti & Associates represents clients across Nassau and Suffolk County in divorces where the marital estate is substantial and the accounting is complicated.
What Makes a Divorce “High Asset” in New York
There’s no statutory dollar threshold. Practically, a case demands high-asset handling when one or more of these is in play:
- A closely held business, partnership interest, or professional practice
- Executive compensation — restricted stock units, stock options, deferred compensation, carried interest.
- Multiple parcels of real estate, including investment or out-of-state property
- Pensions, 401(k)s, IRAs, or defined benefit plans with significant accrued value.
- Trust interests, inherited wealth, or gifted assets that may have been commingled.
- Collectibles, art, or other holdings with no ready market price
- Income high enough that the statutory support formulas stop being the whole answer
Any one of these changes the work. Several together change the strategy.
Separate Property vs. Marital Property — Where High Asset Cases Are Won
Before anything gets divided, it has to be classified. Marital property is generally what either spouse acquired during the marriage. Separate property generally includes assets owned before the marriage, plus inheritances and gifts from third parties.
That distinction sounds clean and rarely is. Three recurring fights:
Commingling. An inheritance deposited into a joint account, or used toward a jointly titled home, may lose its separate character. Tracing it back requires documentation that is often years old.
Appreciation of separate property. If a premarital business grew during the marriage, the increase in value can be partly marital — particularly where the non-titled spouse contributed, directly or indirectly. The analysis is fact-intensive and expert-driven.
Post-2016 change to enhanced earning capacity. For divorce actions commenced on or after January 23, 2016, New York amended DRL § 236(B) so that the value of a spouse’s professional license, academic degree, celebrity goodwill, or career enhancement is no longer distributable marital property — reversing decades of practice under O’Brien v. O’Brien. Those contributions are still weighed as a factor in distributing other assets and in setting maintenance, but the license itself is no longer an asset to be valued and split. This matters enormously for physicians, attorneys, dentists, and other licensed professionals on Long Island, and it is one of the most common places we see outdated advice.
Valuing a Business or Professional Practice
If you own a business, its valuation will likely be the single largest contested number in your case.
A neutral or party-retained appraiser will typically consider asset-based, income-based, and market-based approaches. The contested issues are usually:
- Valuation date. New York permits a date between commencement of the action and trial. The choice can move the number substantially, and the party who benefits from each date is rarely in doubt.
- Enterprise goodwill vs. personal goodwill. Value tied to the business itself is generally distributable. Value that exists only because of the owner’s personal reputation and relationships is treated differently — and following the 2016 amendment, that line is more consequential than ever.
- Normalization of owner compensation. Owners who pay themselves below or above market rate distort earnings. Adjusting for it changes the valuation.
- Discounts. Lack of marketability and minority interest discounts are frequently argued and inconsistently applied.
We work with valuation analysts and forensic accountants who can produce a defensible report — and who can credibly critique the other side’s.
Executive Compensation: RSUs, Options, and Deferred Comp
Equity compensation is routinely underestimated in divorce, sometimes because it hasn’t vested and doesn’t feel real yet.
Under New York law, stock options and restricted stock granted during the marriage may be marital property even if they vest afterward, with courts applying an allocation approach derived from DeJesus v. DeJesus to separate the marital portion from the portion attributable to post-divorce services. Grants that compensate past performance are treated differently from grants meant to retain a key employee going forward.
Getting this right requires the actual grant documents and vesting schedules — not a summary from a pay stub. Deferred compensation plans, bonus structures, and carried interest each need their own analysis.
Retirement Accounts, Pensions, and QDROs
The marital portion of a pension is generally determined using the coverture approach set out in Majauskas v. Majauskas, which allocates based on the years of service credited during the marriage relative to total service.
Dividing these accounts correctly requires a Qualified Domestic Relations Order. A QDRO drafted imprecisely — or never drafted at all after the divorce is finalized — is one of the most expensive unforced errors in high-asset divorce. We handle QDRO preparation as part of the case, not as an afterthought.
Note also that not all retirement dollars are worth the same. A dollar in a Roth IRA and a dollar in a traditional 401(k) have different after-tax values. Trading them one-for-one is a real loss disguised as an even split.
Hidden and Undervalued Assets
Every party in a New York matrimonial action must file a sworn Statement of Net Worth disclosing income, assets, liabilities, and expenses. It is signed under oath and forms the foundation of everything that follows.
When the disclosure looks incomplete, available tools include document demands, interrogatories, depositions, subpoenas to financial institutions and employers, and retaining a forensic accountant. Patterns we look for:
- Business revenue understated or personal expenses run through the company.
- Compensation deferred or bonuses delayed until after the case concludes
- Transfers to family members, friends, or newly opened accounts
- Cryptocurrency holdings omitted entirely.
- Real estate or business interests appraised at a convenient discount.
- Life insurance policies with substantial cash value left off the schedule
New York also recognizes wasteful dissipation of marital assets as a factor in distribution. A spouse who spends down or gives away marital property in anticipation of divorce can see that reflected in the final allocation.
One caution worth stating plainly: this cuts both ways. Incomplete disclosure by you damages your credibility with the court far more than the asset was ever worth. We advise full disclosure and then argue classification and value — that is a winnable fight. Concealment is not.
Assets That Are Hard to Price
Some holdings have no obvious market value and get overlooked precisely because nobody knows what to write down:
- Fine art, antiques, wine, and collectibles
- Intellectual property, royalties, and licensing streams
- Interests in closely held entities with no public comparables
- Whole life and universal life policies with accumulated cash value
- Club memberships, season ticket rights, and similar transferable privileges
Each requires the right appraiser. A generalist estimate invites a challenge you’ll lose.
Support When Income Exceeds the Statutory Caps
This is where high-income cases genuinely diverge from ordinary ones.
Spousal maintenance. New York applies a statutory formula under DRL § 236(B) to the payor’s income up to a cap that adjusts every two years. Effective March 1, 2026, that cap is $241,000 (raised from $228,000). Above the cap, the court has discretion to award additional maintenance after weighing the statutory factors — including the marital standard of living, each spouse’s present and future earning capacity, and the duration of the marriage. The formula is a starting point, not a ceiling.
Child support. The Child Support Standards Act combined parental income cap is $193,000 as of March 1, 2026 (raised from $183,000). Courts may apply the statutory percentages to income above the cap, and must explain their reasoning either way. In high-income families, add-on expenses — private school, tutoring, unreimbursed medical, extracurriculars, and childcare — often exceed the base obligation and deserve as much attention.
Because so much of a high-earner case sits in discretionary territory above the caps, the persuasive record you build about the marital lifestyle matters more than any calculator output.
These figures adjust biennially. Confirm current amounts before relying on them.
Tax Consequences Are Part of the Division
An equal division on paper can be badly unequal after tax. Points that recur:
- Alimony has not been deductible to the payor or taxable to the recipient for divorces finalized after 2018
- Appreciated assets carry embedded capital gains — cost basis, not current value, determines what you actually net.
- Transfers between spouses incident to divorce are generally non-taxable, but the timing rules are strict.
- Retirement account distributions outside a properly drafted QDRO can trigger tax and penalties.
- Filing status, dependency claims, and the treatment of business losses all shift after divorce
We coordinate with tax professionals so the settlement you sign is the settlement you keep.
Discretion and Privacy
Business owners, executives, physicians, and public-facing professionals frequently have a legitimate interest in keeping the details of their finances out of general view. Depending on the circumstances, options include negotiated resolution, mediation, collaborative process, private arbitration of discrete valuation disputes, confidentiality provisions in the settlement agreement, and applications to limit access to filed financial records.
Resolving matters outside a contested trial is often both cheaper and quieter. It is not always possible — but it should always be evaluated.
Serving Nassau and Suffolk County
Matrimonial cases on Long Island are heard in the Supreme Court of the county where venue lies — Nassau County Supreme Court in Mineola, or Suffolk County Supreme Court in Central Islip and Riverhead. Local practice, assigned parts, and the expectations of individual justices all affect how a case moves.
We appear in both counties and represent clients throughout Hicksville, Garden City, Westbury, Great Neck, Manhasset, Huntington, Smithtown, and the surrounding communities from our Woodbury office.
Frequently Asked Questions
How is a business divided in a New York divorce? The business is valued, and the marital portion of that value is subject to equitable distribution. Division rarely means co-ownership after divorce. More often, the owner-spouse retains the business and offsets the other spouse’s share with a buyout, other assets, or a structured payment over time.
Will I have to sell my company? Usually not. Courts recognize that forcing a sale can destroy the value being divided. The far more common outcome is a distributive award funded from other assets or paid out over a defined period.
Is my inheritance safe in a divorce? Inherited assets are generally separate property. But if inherited funds were deposited into joint accounts, used for marital purchases, or otherwise commingled, protecting them requires tracing the money through the records. The earlier you assemble documentation, the better it holds up.
Can I get more than half if my spouse hid assets? Concealment doesn’t automatically produce a larger share, but it has consequences. Undisclosed assets, once found, are brought into the marital estate for distribution, and a court may consider dissipation and the credibility of the concealing party. In some circumstances, counsel fees may be shifted.
Does a prenuptial agreement control? A validly executed prenuptial or postnuptial agreement generally governs the terms it addresses. Agreements can be challenged — on grounds including procedural defects, failure to disclose, or unconscionability — but a properly drafted one is difficult to set aside.
How long does a high-asset divorce take in New York? An uncontested matter can conclude in a few months. Contested high-asset cases requiring business valuation, forensic accounting, and expert discovery commonly run a year or more. The pace depends largely on how much of the valuation work is genuinely disputed.
What should I bring to the first consultation? Recent tax returns, pay stubs, and any equity grant documentation, bank and brokerage statements, retirement account statements, business financials, mortgage and property records, and any prenuptial agreement. Bring what you have — we’ll identify the gaps.
Speak With a Long Island High Asset Divorce Attorney
Simonetti & Associates has represented Long Island families in divorce, custody, support, and prenuptial matters for more than two decades. Consultations are free and confidential.
Request a consultation. We offer flexible scheduling and return calls after hours.