New York Divorce Lawyer Blog
In New York, divorces involving substantial assets and complex financial histories often turn on how courts classify property, value investments, and weigh each spouse’s contributions. When millions of dollars, investment interests, and long-term financial planning are at stake, even small variations in a court’s findings can dramatically affect the final judgment. A recent opinion issued by a New York court in a divorce action highlights how these disputes unfold and why skilled legal guidance is essential for anyone facing a divorce involving significant assets or competing claims to separate property. If you are navigating a high-asset divorce, it is critical to consult a knowledgeable New York family law attorney who can protect your financial interests from the outset.
History of the Case
It is reported that the parties married in 2009 and have one child. The wife commenced a divorce action in early 2017, resulting in a nonjury trial and a judgment entered in 2021. The trial court awarded the husband a substantial separate-property credit tied to the purchase of the marital residence, allocated a notable share of the closing costs to the wife, awarded the wife only a modest sum in counsel fees, and failed to distribute a 529 college savings account. The trial court also set maintenance for a limited duration and issued a child support award, prompting the wife to appeal.
Allegedly, the husband cross-appealed, challenging the denial of several claimed separate-property credits relating to investment funds and brokerage accounts. He further disputed the valuation of his interest in an investment company, the allocation of tuition expenses for future college attendance, and the directive requiring him to pay the majority of carrying charges on the marital residence while awaiting its sale. Continue reading