When a New York couple concludes that their marriage is not working and they decide to move forward with a divorce, there are many issues that will need to be addressed throughout the process. If there are children, for example, child custody and visitation may become a major issue that leads to extensive disagreement. Other matters that are often problematic in family law and divorce are child support and property division. No matter where a couple resides in New York, the property they own can have extensive financial and sentimental value. This can lead a couple to argue over very specific items. For this reason, it is often imperative to have the assistance of legal counsel before proceeding with the property division process.
The importance of legal counsel can be seen in one ongoing case involving a couple who lives in a wealthy area and has significant assets. They are in the middle of a contentious divorce. One of the assets at the heart of their disagreement is their mansion. The divorce is anything but amicable, and they are in an ongoing dispute regarding other assets. The husband is said to be falling behind on paying bills for the tuition of their children’s school, too. The wife says that he is spending the money to finance a lavish lifestyle. For his part, the husband’s representative says that the claims are inaccurate and are being made for the sake of drama.
With a high-end divorce, couples frequently need to sell expensive property so that its value can be equitably divided. The home in this case was listed for sale after the wife filed for divorce. The asking price was more than $6 million. It was then taken off the market as the case proceeded forward.
Whether it is in New York City or Upstate New York, real estate is sometimes a chip that both parties want to retain when they end a marriage. This is true even in agreeable divorces. When there is a dispute and acrimony, it can be even more difficult to sift through the property at hand and come to a resolution that will satisfy both sides.
It is not just real estate that is often the focus of a high-asset divorce. Motor vehicles, bank accounts, retirement accounts, jewelry, sentimental items, and even a business can be part of a tug-of-war between the parties. Having legal assistance when dealing with this issue may allow an individual to avoid a back-and-forth between the spouses and obtain a reasonable result. Calling a law firm experienced with high-end family law and divorce cases is therefore oftentimes of critical importance.