The complex issues surrounding marital and non-marital finances in divorce generate many questions. Below, we have compiled answers to some of the questions we most frequently receive from clients and prospective clients.

“Is my divorce really a ‘high asset’ divorce?

The cutoff for “high asset” divorces has typically been a marital estate of at least $1,000,000. Real estate values in New York City and surrounding areas makes it more likely than not that your divorce requires the representation of an experienced high asset divorce attorney.

“How will taxes affect my divorce settlement?”

Taxes will be a crucial factor in your divorce. There are tax implications to virtually every asset at some point, from capital gains on the sale of financial assets including brokerage accounts, sale of restricted stock units and real estate. An experienced divorce attorney will work to structure your settlement to limit your exposure to taxes and ensure you receive your fair share of marital assets.

“Are restricted stock units and non-qualified stock options just for executives?”

RSUs and non-qualified stock options have long been a feature of executive compensation packages, but they are not limited to executive-level positions. Companies such as Facebook, Amazon, Apple, Uber, IBM, Starbucks, Bank of America, Intel, Microsoft and Verizon, as well as lesser known startups, provide non-executive employees with RSUs and non-qualified stock options.

“What will happen to our business?”

This depends on the nature of the business. Is it a jointly owned family business that is considered to be marital property? Is it separate property that your spouse owned before marriage? Have you or your spouse contributed to the business in an active manner during the marriage? The answers to these questions will go a long way toward determining your entitlement to the value of the business.

“How do I know if my spouse is being honest about their finances?”

You don’t. If you are questioning whether your spouse is being honest, then you must take the steps to conduct financial discovery which includes a thorough review of all that is financial in the case. A divorce attorney can enlist the support of professional experts such as forensic accountants to uncover any assets that have been hidden or reported inaccurately.

Take the Next Step Today

Your financial wellbeing is too important to leave in the hands of an inexperienced attorney or someone who occasionally dabbles in divorce. Call 914-488-2402 to schedule a consultation with a proven divorce attorney Lisa Zeiderman. She has offices in New York City and Westchester County.