When decide to hire a matrimonial attorney in New York to obtain a divorce, you understand some of the complication that will occur. You will no longer be living with your spouse. This may entail your finding a new place to live, or perhaps they will move out and you will retain the family residence. Or you both may determine that holding on to the current residence is unrealistic or unnecessary.
Previous generations of those over age 60 rarely divorced. It simply was not done. For religious, cultural and societal reason divorce among grandparents was virtually unheard. No longer. Recent studies, in part begun by the ending of Al and Tipper Gore's marriage, have found that "gray divorce" is no longer a statistical outlier.
When your marriage comes to an end, you hire a legal professional to assist, as the technicalities of New York matrimonial law continues enough complexities to cause problems for experienced attorneys, let alone someone who has never even seen a copy of New York's Domestic Relations Law or the necessary corollary, the CPLR (Civil Practice Law and Rules, the rules of court for civil cases).
In a high net worth divorce, money is likely to be the focus of much of the proceedings. In addition to the complexities that result from significant assets and sophisticated investment instruments, it is likely that the spouse who generates the primary income will have taken steps to protect that wealth in the event of a divorce.
During a marriage, income earned and assets acquired are presumed to be joint property of both the husband and wife, unless they are a personal gift or part of an inheritance. During the property division, marital property will be divided and distributed to the parties.