Earlier this year, the third wife of former New York City mayor, Rudy Giuliani, filed for a high net worth contested divorce in Manhattan Supreme Court. Judith Giuliani, nee Nathan, was married to Rudy for fifteen years before filing for a contested divorce, indicating a battle over marital assets is looming. It was the third marriage for both spouses, and since their marriage Rudy has run for the presidential nomination twice, founded and sold investment banking firms, and worked for the law firm Greenberg Traurig. The couple has multiple properties across the country, including New York City and Palm Beach, in addition to other high net worth assets. Rumors of one or more affairs by Rudy may also add complexities to the contested divorce, if he spent marital money on his paramour. Experts estimate Rudy Giuliani’s current net worth to be around $45 million, and the couple did not sign a prenuptial agreement prior to the marriage.
New York high net worth divorces
While all divorce cases can be messy, high net worth divorces can be particularly complicated given the nature and value of the assets that must be divided between the spouses. Closely held business interests, investments, real estate properties, professional degrees and licenses, complex retirement accounts, and more must all be accounted for and only the most experienced divorce attorney should be trusted with that task.
New York divorce operates under an equitable distribution method
During a high net worth divorces, the marital property must be divided equitably between the parties, which does not necessarily mean an equal split in value. During high net worth divorces, a New York judge typically considers each spouse’s non-marital property and income, the duration of the marriage, each spouse’s age and health, the need of a parent to live in the family home with a child or children, pensions, retirement accounts, insurance benefits, inheritance rights, spousal support, child support, the probable future financial circumstances of each spouse, business interests, tax consequences, whether either spouse has wasted marital assets (such as with infidelity), and what the judge considers to be fair and proper.
Businesses interests, professional practices and licenses, retirement plans, deferred compensation, stock options, restricted stocks, bonuses, commissions, brokerage accounts, real estate, interest in limited partnerships, tax refunds, art, jewelry and even a baseball card collection may be considered to be marital assets subject to equitable distribution if they were acquired during the marriage.
Call our office now
High net worth divorce is an extremely nuanced area of law that requires an attorney to have specific knowledge and experience. Steven J. Mandel, an Advisory Board Member of the esteemed American Academy for Financial Litigators, as well as the other attorneys in The Mandel Law Firm, have a proven track record of successfully handling these complex divorces for almost 40 years. Call our office, or contact us now, to schedule a personal review of your case and to see how we can help you.