Executives with high net worth and compensation packages have a lot to lose in a divorce settlement. In many cases, the overall compensation package includes equities in the company, deferred compensation and pension funds. Under New York marital property law, your compensation and earnings may be subject to equitable distribution in the final divorce settlement.High Asset Divorce Lawyer Helping Executives in Kingston, Hudson Valley, Rochester, & New Paltz
Compensation, investments and savings earned over the duration of the marriage must be submitted for consideration in the final financial settlement or award. It is important to the overall outcome of your divorce to obtain fair and accurate valuations of your assets and your earnings. In addition, some of your earnings and appreciation of value of your company stock may correctly be characterized as separate property, if you can show that your spouse had little bearing on the acquisition of the equities or appreciation in value.
“Your executive career has a value, just like every other property. Determining the fair market value of your career and protecting your compensation as personal property is important to protecting your financial interests in the event of alimony or direct distribution of money.” Attorney Jonathan Katz
For more than 25 years, I have been protecting the rights of executives and highly compensated professionals going through divorce in New York. It is a common strategy for spouses of business executives to claim an equal share of marital assets, including current and future compensation, either in direct payments, long-term spousal support or additional voluntary child support payments. Often, a business career that began before the marriage may remain separate property, if you can show that the spouse played little role in promotional opportunities.
I represent business executives involved in complex high asset property settlement divorces involving:
- Protection of business interests, equities and stock options
- Appreciation of separate property
- Commingled and transmutation of assets
- Income tax obligations
- Real estate portfolios
- Division of marital debts, jumbo mortgages
- Valuation of professional practices
If you are a business executive considering divorce, make sure your lawyer has the knowledge and skills to understand the heart of the financial issues involved. Contact my offices in New Paltz, New York, to arrange an opportunity to discuss your financial concerns.