Rochester Complex Marital Property Division Attorney

Rochester Complex Marital Property Division Lawyer

If your Rochester, NY marriage has not been working, it may be time to consider a divorce. Divorce can be a time for healing and growth and can ultimately lead to new beginnings. However, understanding the technical details of your Rochester divorce can get in the way of your path to a new life, especially if you are dealing with complex marital property division issues.

When it comes to asset distribution and overall distribution of New York marital property, a divorce attorney can help you better understand your situation, as well as options for moving forward. A divorce lawyer from Trotto Law Firm, P. C., can help you understand the implications of dividing your estate or assets because they have worked tirelessly on numerous high net-worth divorces.

Whether you are dealing with issues related to spousal support or determining what can be classified as separate property, a family lawyer from Trotto Law Firm, P. C. will help work you through the details of your high-asset divorce so that you can focus on the future and wellbeing of you and your family.

Complex Marital Property Division Disputes NY

There are numerous factors that can lead a Rochester divorce to become overly complicated. Such complexities can result in drawn-out divorce proceedings, high divorce-related costs, and emotional exhaustion of all parties involved. A few factors that can lead to a complex divorce are:

• High-asset divorces. In some cases, if the assets and property to be split in a divorce are too numerous and the stakes are high, this can lead to disputes over multiple technicalities. If a marriage was in ownership of multiple stocks and bonds, as well as other financial portfolios, it can be difficult to divvy up these assets.
• Assets that involve businesses. If a business and its related assets are considered to be marital property, it can be extremely difficult to split the assets, especially if the business is particularly lucrative. Plans for determining who will be a stakeholder in future business planning, as well as who might own and manage properties associated with the enterprise, can be hard to pin down.
• Property division of the family home. In many cases, if large investments were made into a Rochester family home, it might be difficult to determine which spouse will be entitled to it. Each spouse may have put large amounts of time and energy into renovating or upgrading the property and may have precious memories associated with the home. Disputes such as these over the family home can lead to complex divorce cases.
• Commercial property ownership. If the joint property includes commercial property, which has the potential to increase in value over time and generate income through lessee rentals long after the divorce, this lucrative property can be difficult to divide. Considerations such as property earning potential and how much each spouse contributed to acquiring the property during the marriage must be taken into account.
• High-profile divorces. If the two parties getting a divorce are well-known or famous, the press and other entities may seek to publicize details of the divorce, which can be extremely draining for the spouses and any children involved. The influence of public opinion can also unnecessarily impact the outcome of a divorce decision. An experienced and caring divorce lawyer can help make sure that the divorce happens behind closed doors and that intimate details are kept private in a divorce.

Each divorce is unique in terms of the property and assets involved, the number of children, the length of the marriage, and other critical factors. It’s important to understand that many different circumstances can lead to complex decisions when it comes to dividing marital property. At Trotto Law Firm, P. C., our divorce lawyers are here to help you navigate these difficult situations.

FAQs About  Rochester, NY High Net-Worth Divorces Law

If I Am Married, But My Name Is Not on a NY Deed, What Rights Do I Have?

If you are in a marital contract, but you do not have your name listed on a property deed in New York state, you are still entitled to petition for access to a portion of the property. If your spouse obtained this property during your existing marriage, then under NY property division law, it should be split under equitable distribution law. If you are unsure about your rights to assets and property in a divorce, it’s recommended to contact a dedicated complex property division divorce lawyer.

Can You Turn Separate Property Into Marital Property in New York?

Yes, there is a process that allows you to convert separate property into marital property in New York called ‘transmutation.’ This process happens when a property registered as separate is combined and entangled so much with other marital property or assets that it is no longer possible to understand which property is marital and which is separate. An example of this is when money from a separate bank account is transferred to a jointly owned bank account.

What Can a Wife Get in a New York Divorce?

In a NY divorce, a wife and husband are entitled to obtaining the same benefits regardless of sex or gender. Such entitlements include spousal maintenance, child support, child custody, fair distribution of community property, and child visitation. In order to understand what you are entitled to in a divorce, it is generally recommended to consult with a devoted divorce attorney.

How Are Business Assets Dealt With in a New York Divorce?

If the New York business assets contested in a divorce were obtained during the marriage, then they may be considered to be marital property and therefore subject to equitable distribution laws. In order to determine how to split business assets in a divorce, the New York courts will take into account how much the business is worth, how much each party contributed to the business’s value, and other fiscal considerations.

Clear Your Asset Division-Related Headaches Today

The fierce and knowledgeable family lawyers at Trotto Law Firm, P. C. are skilled in listening to you and your concerns, as well as analyzing family history and financial documents in order to get a firm grasp on your legal situation. Our legal team will break down complex legal concepts related to your high-stakes marriage to help aid you in making the right decisions before it’s too late in the divorce process. Contact our lawyers today to reclaim control of your complex Rochester divorce situation.