Unique Challenges in LGBTQ High-Asset Divorce Cases in NYC

Going through a divorce can be challenging in many ways, but when high assets and the LGBTQ community are involved, the situation can become even more complex. In recent years, many states, including New York City, have legalized same-sex marriage, which is a positive development. However, there are still many issues that members of the LGBTQ community face when it comes to divorce.

This blog will explore the unique challenges that arise when high-asset divorces occur within the

Property Division

One of the main challenges that members of the LGBTQ community face in high-asset divorce cases in NYC is the issue of property division. This can be even more complicated when the couple has accumulated significant assets over many years of their marriage. In these situations, a spouse may claim ownership of a certain asset, such as a business or real estate, which may have been acquired or built in the name of the other spouse. It can be challenging to establish a fair and equitable distribution of these assets, especially if there is no prenuptial agreement in place.

Legal Precedents

Another challenge is the fact that same-sex marriages are still relatively new, so there are not as many legal precedents to follow as there are in traditional marriages. This means that the courts may struggle to determine what is fair and equitable in high-asset divorce cases. In some instances, this may require the use of expert witnesses and financial analysts to analyze complex financial data and to help establish a fair distribution of assets.

Child Custody in LGBTQ

Child custody is another issue that can be complicated in LGBTQ high-asset divorce cases. If the couple has children, determining who gets custody can be challenging, especially if one spouse has played a more significant role in raising the children than the other. This can be even more complicated if the couple used artificial insemination or surrogacy to have a child. In these situations, it may be necessary to determine who has legal custody of the child and what the visitation rights of each parent should be.

Privacy

Another challenge in LGBTQ high-asset divorce cases is privacy. High-asset divorce often involves complex financial arrangements and significant wealth. This can be difficult to navigate for members of the LGBTQ community who may not wish to disclose their personal lives to the public. It is important to work with an attorney who understands these concerns and can help the couple maintain their privacy while still working to achieve a fair and reasonable settlement.

Divorce is a challenging process, especially for members of the LGBTQ community who are going through a high-asset divorce. It is important to work with attorneys who understand the unique challenges that arise in these cases and can help guide their clients through the process. By working with experts who specialize in LGBTQ divorces, such as The Mandel Law Firm, couples can navigate these inherent challenges and achieve a fair and equitable resolution. With proper planning and legal representation, couples can come through the divorce process whole and prepared for their future.

LGBTQ Family Law Attorneys in New York

Embarking on the journey of a high net worth divorce within the LGBTQ community requires specialized legal expertise and compassionate representation. At The Mandel Law Firm, our seasoned New York family law attorneys have a wealth of experience in navigating complex cases, particularly those involving high net worth individuals.

We understand the unique considerations that arise in LGBTQ divorces and are committed to fiercely advocating for your rights, interests, and financial well-being. If you find yourself on the precipice of such a significant legal undertaking, don’t hesitate to call us at (646) 770-3868 for a confidential consultation.