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What Happens to my Assets?
A Savvy Divorce Lawyer Will Help You Maintain Your Lifestyle
October 6, 2015
Fear of the unknown is completely normal; this is especially true when your life is about to be turned upside down by divorce. Living arrangements may be up in the air, you may need to work more to earn more money, kids will be shuttled back and forth between parents and your circle of friends may very well change.
Financially speaking, you may be in for a rude awakening. Or, at least you fear that may be the case. If you have been used to living comfortably, it’s understandable that you are worried that you may be left with nothing — or at the very least, not enough — after the ink on the divorce settlement dries. You may even be angry at the thought that your soon-to-be-ex is going to do everything in their power to make sure you get left out in the cold. (They may even be threatening to do just that!)
The thing you need to do first is to act, not react, to the threats by choosing the right divorce lawyer whose expertise can make a big difference in your future lifestyle. One thing about New York divorce law you can count on is that state statute calls for marital assets to be divided equally when couples choose to dissolve their marriage. Since marriage is a legal contract, both parties are entitled to certain protections in the event the contract is, essentially, broken. Both spouses are equally protected and neither will be allowed to enjoy a better lifestyle at the expense of the other spouse’s lifestyle after the divorce.
Your spouse can say and threaten anything they want to say. Rest assured, that you are entitled to certain protections and a savvy lawyer will fight to make sure you are well-taken care of whether your divorce is cantankerous or amicable. This means a share of the marital assets, alimony when appropriate, and certainly child support if there are children involved.
If, in fact, you are fortunate enough to be a person of means, you likely didn’t get that way by being foolish with your finances. You understand the value of protecting yourself. Couples with high net worth often have pre-nuptial agreements which protect certain assets that were brought into the marriage. In these cases, “marital assets” may be defined as money and things (jewelry, real estate, retirement savings, etc.) that were accumulated during the marriage. In theswe cases, a judge will not usually seek to divide those assets in divorce proceedings.
However, it’s not unusual to start out a marriage just making ends meet while ending it at the other end of the financial spectrum. Hard work and good fortune fully impact one’s economic health, obviously. So regardless of how you got to where you are today, you deserve your share after the divorce.
At the law firm of Jonathan D. Katz, you can rely on the knowledge and experience of a divorce lawyer who has successfully helped other wealthy couples protect what’s theirs. He will safeguard your interests during negotiations and will fight for you, when necessary, in court. Call today.
