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High Net Worth Divorces

long island divorce attorneyThere is an expression that no good deed goes unpunished. When an individual is successful in his or her career, or has accumulated assets, those assets and/or the income stream from employment are subject to issues involving equitable distribution, child support and spousal maintenance in a divorce case. High net worth individuals often have real estate assets, stocks, bonds and interests in corporations. The division of these assets can make a divorce proceeding complex. Individuals with high net worths often have interests in businesses or corporations which can create significant problems if the division of these assets are not handled in an appropriate manner.

Marital Property and Separate Property

Marital property refers to assets accumulated during the course of the marriage. Separate property involves assets accumulated prior to the marriage. Assets which were acquired prior to the beginning of the marriage are exempt from equitable distribution with the exception of circumstances where the marriage itself or the spouses had an impact on the value of the property during the course of the marriage. Marital property encompasses all assets accumulated during the course of the marriage. It does not matter whose name the title to the assets are in.

Division of Marital Assets

The division of marital assets involves the appraising of the value of the marital assets. In addition, concerning the issues of spousal maintenance, the specific financial needs of the non-monied spouse are taken into consideration with regard to the issue of spousal maintenance (which was formerly referred to as alimony). The courts look into the contribution of each spouse to the appreciation or development of the assets of the marriage.

Addressing the Issues in High Asset Divorces

assistance in divorce and child issuesShould you anticipate you may be involved in a divorce situation, it is important to hire an attorney as early as possible. This may assist you in maintaining control of your assets and developing presentations for the judge handling your case regarding your contributions concerning the development and existence of these assets and/or minimizing the contributions of your spouse concerning the acquisition of these assets. This type of presentation is helpful in allowing you to maintain a significant portion of your assets at the time of trial or settlement of your divorce case.

Governor Cuomo Slashes NY Judiciary Budget by $170 Million

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It is estimated that hundreds of non-judicial workers will lose their jobs related to an additional $70 million dollars in budget cuts from the judiciary budget in the state of New York. The $70 million in budget cuts is in addition to a previous $100 million that was cut from the $2.7 billion budget for the judiciary in the state of New York.

Judge Lipman, the Chief Judge in New York State, has not specifically identified who will be laid off as of this date. There are concerns that court houses will be closed due to these budget cuts. Judge Lipman claims that this will not happen and that the court houses will remain open.

Court Administrators Fight Layoffs

Court administrators fought to avoid significant layoffs. They had hoped the courts reduced budget requirements could be met by instituting an early retirement program, eliminating new hirees, and other economic concessions, such as the elimination of Judicial Hearing Officers. The $170 million cut represents 6.3% of the judiciary budget. There are currently 15,200 non-judicial workers employed by the court system in the state of New York. Rocco Desantis is the president of the New York State Court Clerks Association. In a recent interview, he indicated that the court system was already strained from early retirement and previous budget cuts. He stated, “as a result of positions left unfulfilled from early retirement, there are already long lines at every office that deal with the public and back offices.” He stated, “I am concerned that this is going to make a bad situation worse.”

John Strand of the New York State Court Officers Association recently stated that the projected courthouse cuts will have a severe impact on the operation of court facilities. He doesn’t see how all the current court parts can be kept open with a reduced staff of court officers.

James F.X. Doyle is the President of the New York State County Court Judges Association. In a recent interview, he claimed that there will be inadequate security in the court houses due these layoffs.

Cuts In Court Personnel Unacceptable

The judiciary has traditionally been the poor man in the three branches of government in New York. Judges in New York state have not received a salary increase in more than thirteen years. They’re the poorest paid judges in the United States of America. When you consider that some of these judges live in the most expensive counties in the United States, it helps to explain the horrific conditions that exist in our legal system. The further layoffs of court personnel due to budget cuts will cause our legal system to grind more slowly. Justice delayed is justice denied! The budget cuts forced upon the judiciary by Governor Cuomo are unfair and will have a negative effect on the quality of the legal system in the state of New York!

Fathers’ Rights Lawyer

The legal system is supposed to be gender neutral. Many men involved with litigating matrimonial and family law matters have walked away from the legal system because their rights were not protected and they felt the system was biased against them.

We are fathers’ rights lawyers. We represent fathers in the negotiation of separation agreements. We deal with relocation problems when the custodial parent moves, creating a problem with the father’s visitation. We deal with parental alienation syndrome and the parental alienation by one parent of the other parent to the children. We litigate high net worth divorces and all aspects of equitable distribution in divorce cases. We help our clients obtain divorces under the new no-fault divorce law in the state of New York. We specifically assist fathers in litigating child abuse charges, paternity, spousal maintenance (alimony), child abuse, child neglect, child custody, child visitationorders of protection and all other issues litigated in divorces in the Supreme Court. If you’re a father and you’ve have concerns concerning your rights being protected, feel free to call us at 1-800-344-6431, 516-561-6645 or 718-350-2802.

Governor Cuomo Seeks to Legalize Gay Marriage in New York

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In March of this year, Governor Andrew M. Cuomo went on record that he was in favor of the legalization of same sex marriage in the state of New York. He stated that he would be involved in a campaign to legalize same sex marriage.

Same Sex Law Failed in 2010

Last year, a same sex marriage law was proposed. It was defeated in the New York State Senate by a large margin. The question this year is whether Mr. Cuomo’s political savvy will be sufficient enough to get a same sex marriage bill through the state legislature.

Senator Dean Skellos from Rockville Center, New York, has gone on record as being opposed to the legalization of same sex marriages. Senator Skellos, a Republican, is the majority leader in the New York Senate.

At a meeting with leaders of the state’s most prominent gay rights organizations, Governor Cuomo compared same sex marriage to historical movements such as the women’s liberation, gay rights and environmental justice. Governor Cuomo stated New York needed to restore its reputation as a progressive state. Governor Cuomo stated, “to me this is more than just a piece of legislation, this is about the lives of people who I have known for many years and who currently are without the rights to which they are entitled.”

Long Island and New York Divorce Lawyer

Our law office handles various types of issues that arise from same sex relationships. In addition, we litigate divorce related issues such as child custody, child abuse, child neglect, separation agreements and the division of property. We represent individuals who seek to fight orders of protection. We also negotiate pre-nuptial agreements and post-nuptial agreements for our clients. Should our client be involved in a high net worth divorce, we have an in house accountant that assists our lawyers in dealing with complicated financial issues. Fee free to call us for a free consultation.

The Court Values Marital Property and Professional License

Justice W. Kelly, sitting in the Supreme Court in Rockland County recently rendered a decision in a contested matrimonial action. In this lawsuit he determined the valuation of the husband’s dental practice. He also valued other separate property and marital property. The assets in question were the marital residence and its contents, and husband’s commercial real estate as well as his dental practice in Rockland County. There was also an issue concerning the appreciation of a dental practice the husband maintained in the City of New York. The couple also had bank accounts, bonds, investments and various retirement accounts. On the other side of the ledger were credit card debts.

During the course of the trial the husband claimed that he was entitled to a credit of approximately $324,000. This represented a gift from his father that he used to purchase the parties’ home. The parties’ home in Rockland County was appraised at the time of the divorce at approximately $915,000.

The wife claimed that the gift from the husband’s father had been trans-mutated into marital property because it had been commingled. Justice Kelly determined that plaintiff was entitled to a credit for the separate property used to purchase the home, to wit: the $324,000 given to him by his father, even though there was a commingling of the separate property with marital assets. He stated that the balance of the proceeds from the sale of the marital residence should be distributed equally. He awarded the wife a 35% interest in the equity in her husband’s real estate. This took into consideration her participation in his dental practice.

High Asset Divorces

Our law firm has been representing doctors, lawyers and individuals who own small businesses in divorces for three decades. High asset divorces require the skill, patience and knowledge of very experienced matrimonial attorneys. Our office maintains an accountant on our staff to assist us in the valuation of sophisticated assets. If you have issues involving equitable distribution of assets, division of property, valuation of professional practices and licenses in divorce proceedings, the eighty (80) years of combined expertise in our law firm has in handling divorces would be invaluable to you. Call us for a free consultation at 1-800-344-6431; 516-561-6645 or 718-350-2802.

Long Island Lawyer’s Adoption Scam

adoptionKevin Cohen, Esq., was an attorney on Long Island. He was recently found guilty of stealing in excess of $300,000 from families he represented. He had promised these families to help them adopt children. Unfortunately, the children did not exist.

Mr. Cohen was found guilty of 37 counts, including 16 counts of second-degree grand larceny, 11 counts of third-degree grand larceny and 10 counts of third-degree forgery. Mr. Cohen now faces up to ninety-two years in prison for his crimes. He will be sentenced on December 7, 2010. As a result of his criminal convictions, he will receive a mandatory disbarment.

Mental Illness

Mr.Cohen’s defense was “mental illness”. He represented himself at the time of trial. He claimed he could not be criminally responsible for his actions due to the fact he suffered from a mental illness. Unfortunately for Mr. Cohen, the prosecution was successful. They were able to show that he was a bright, intelligent lawyer who knew exactly what he was doing.

Judge John Kase, sitting in the county court of Nassau County, ruled that there was insufficient evidence to support an insanity defense for Mr. Cohen.

From October 2007 to the time of his arrest in September 2009, Mr. Cohen was in charge of an adoption agency called Adoption Annex. He represented to the public that he was an adoption expert. He charged his clients large sums of money for his legal services. He had also fabricated forged records and had shown his clients fake sonograms and fake medical records to convince them he had a child who could be adopted.

At the time of his arrest, Mr. Cohen’s bail was set at $500,000 and he was never able to make bail. Mr. Cohen deserves a long jail sentence !!.

About our Firm

Our law office has extensive experience in handling all aspects of matrimonial and family law. We represent individuals in divorce proceedings, custody proceedings, annulments, as well as pre and post-nuptial agreements. We are especially adapted in handling high-net-worth divorces.

Should you, a friend or family member have issues related to a divorce or family law proceeding, call us at 1-800-344-6431; 516-561-6645 or 718-350-2802, or contact us by email. We can help you!

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