Personal attention. Careful preparation.
High-Asset Divorce
A divorce involving substantial assets is about more than dividing a balance sheet. Decisions about a business, a home, retirement, and ongoing income can shape your family’s future for years. The Lama Law Firm offers a place to discuss those decisions with a family-owned Ithaca practice.
Understand what is being divided
New York distinguishes marital property from separate property and applies equitable distribution. A fair division is not necessarily an equal division of every asset. The history of an asset, when it was acquired, and the records supporting ownership can matter as much as its current value.
New York Courts: equitable distributionLook beyond the headline value
Closely held businesses, professional practices, investment properties, deferred compensation, and retirement accounts raise different questions. A useful financial review considers ownership, valuation, debt, access to cash, and the practical consequences of a proposed settlement. Where appropriate, the discussion may include whether valuation or tax professionals are needed.
Build a complete financial picture
Start with an organized inventory rather than assumptions about what belongs to whom. Identify premarital assets, inheritances, gifts, business records, and any marital agreements. Discuss concerns about incomplete disclosure and unusual transactions with counsel. Do not access accounts without authorization or transfer assets based on general information from a website.
Plan for the next chapter
Settlement decisions should fit the life you expect to lead after divorce. Bring questions about housing, business continuity, support, retirement, and children’s needs. If custody crosses state lines, jurisdiction deserves separate attention. Estate-planning documents should also be reviewed as your family circumstances change.
Questions before your consultation
Does having more assets change the divorce process?
It can make disclosure, valuation, and settlement planning more involved. The amount of wealth alone does not determine the result; the nature of the property, the evidence, and the applicable law matter.
Should I have every document before calling?
No. A preliminary conversation can help identify what information is most useful. Begin with an overview of your family, finances, any pending proceeding, and upcoming deadlines.
General information, not legal advice. The applicable law and your individual circumstances control. An inquiry does not create an attorney-client relationship.