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January 2019 Archives

How to include art in an estate plan

When affluent New York residents buy a work of art, they don't just do it for the financial reward. In addition to potential monetary gain, they also buy art for their personal enjoyment. Therefore, wealthy individuals may hold onto their collections until passing on. Ideally, an individual will account for artwork in an estate plan, but this is not always the case.

Do grandparents in New York have custody rights?

When you have a grandchild, making sure that grandson or granddaughter receives the best care possible may become one of your main priorities. If you, for example, suspect that your grandchild’s parents are abusing your grandchild, or conversely, abusing substances, you may wish to obtain custody to keep your grandchild safe.

How super-wealthy couples get divorced

When super-wealthy couples get divorced, the legal process is usually much different than with couples who have a normal amount of money. One main differences has to do with the types of assets they possess. Billionaires from New York to California often have huge sums of money tied up in stocks from companies they've owned or in which they've invested. This makes asset division particularly difficult. While the specifics of many of these divorces are kept private, attorneys have shared information about how things work in general.

When might a forensic accountant help in a divorce case?

While divorcing your significant other can prove to be a highly emotional process, once you take emotions out of the picture, divorce, at its core, comes down to dividing up assets, debts and responsibilities. While some divorces, such as those for short-term marriages, may be easier to work through than others, divorces that involve particularly high earners or parties that otherwise have significant assets can prove far more complicated.

Getting your ex to agree to QDRO

During your marriage, retirement savings may have been a big focus. From the time you were both in your 20's, you may have had dreams of taking early retirement, selling the family home and traveling in an RV. You never thought you would have to worry about splitting that retirement money ahead of time due to divorce.

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Trotto Law Firm, P.C.
140 Allens Creek, Suite 3
Rochester, NY 14618

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