Complex Property and Assets Division
High net worth divorce cases may often be more complex and require more specialized lawyers than standard divorce cases. They may involve all or some of the following types of unique assets that require special procedures to ascertain their value and equitable distribution.
In property and asset division, it is important to select the correct expert and present the case in a favorable light in order to obtain the best possible outcome. Often, the nature of high net worth divorces requires the attorney to identify a vast array of financial, legal, accounting, and tax related issues relative to the assets involved.
It is necessary for your attorney to be able to bring together and supervise a quality team of experts to prepare and present your case. The Law Offices of Diana P. Zitser has extensive experience in high net worth divorce, and will represent your interests with all of the professional strength and extensive resources at our disposal. We will help you evaluate all of the factors involved in asset distribution and come to a solution that is right for you.
Closely Held Business
As opposed to a publicly traded business, a closely held business is typically owned and managed by a small group of shareholders. These types of businesses include automobile dealerships, media businesses, high tech and other high growth companies, property insurance companies, and small businesses like bars, gas stations, construction companies, banks, and printing companies. Because shares of closely held businesses are not publicly traded in the stock market, it is difficult to determine their value. Valuation requires looking at the level and timing of future cash flow, as well as the certainty of the future of the business.
Professional practices include legal, medical, and dental practices. They present unique valuation issues. For example, healthcare costs are rapidly rising, and must be taken into account when evaluating a medical practice. Additionally, professional practices typically require a large malpractice insurance policy which must be considered. Often, the future success of these practices depends on intangible assets like customer goodwill and the skill of the professionals involved.
Real estate holdings may include high price homes, vacant land, and shopping centers. Valuation requires looking to comparable real estate sold in the area, replacement value, and cash flow of any income properties. Further, analyzing zoning codes and the need for specific types of property are essential in an accurate real estate valuation.
Fortune 500 company pensions
Equitable distribution of Fortune 500 Company pensions requires taking into account projected retirement age, projected value of the pension, and deciding whether to divide it equitably over time or all at once.
A divorce where one or both of the parties come from an entertainment background can be especially challenging. Not only are different businesses often involved, but there are other tangible and intangible assets that need to be accounted for. For example, there are assets that generate revenue like patents, trademarks, royalties, and other intellectual property. There are also assets that lack specific economic benefits, like customer lists and the expectancy of repeat patronage. Experts are required to determine equitable distribution and value of these assets. Selecting the correct expert, presenting a persuasive case, and weakening the case of the opposing side are often essential in obtaining a favorable outcome.