High-Net-Worth Divorce in Westchester County
In a divorce with a complex marital estate, the result depends on identifying, valuing and characterizing each asset correctly. Gregory Salant represents business owners, professionals and executives, and their spouses, in contested divorces in Westchester and the surrounding counties.
Assets these cases commonly involve
Business ownership: closely held companies, partnership and LLC interests, and family businesses, including whether the interest is marital, separate or both, and what it is worth.
Professional practices: medical, dental, legal, accounting and other practices, where valuation and the treatment of goodwill can be contested. Under current law, the enhanced earning capacity from a license or degree is not treated as marital property, although the court must consider a spouse's contributions to it when dividing property.
Stock options, restricted stock and RSUs: vested and unvested awards, and how to separate the portion earned during the marriage from later compensation.
Deferred compensation, pensions and retirement accounts: 401(k)s, IRAs, defined-benefit plans and non-qualified plans, often divided by Qualified Domestic Relations Order.
Investment accounts: brokerage portfolios, managed accounts and private investments, including tax basis and how the account is divided.
Real estate: the marital residence, second homes, and investment or rental properties, with questions of separate-property contributions, appreciation, and sale or buyout.
Cryptocurrency and digital assets: identifying holdings across exchanges and wallets, valuing volatile assets as of an appropriate date, and providing for their division.
Complex marital estates generally: trusts, inheritances mixed with marital funds, and assets held through entities. Spouses can also address these assets in prenuptial, postnuptial and separation agreements.
Financial discovery and forensic accounting
Each spouse must provide a sworn Statement of Net Worth and supporting documents. Gregory uses document demands, subpoenas and depositions to build a complete and accurate financial record. When it helps, he works with forensic accountants, who trace funds, analyze business records and tax returns, and determine income available for support.
Business valuations and financial experts
Valuation experts may use income-, market- or asset-based approaches and can reach very different conclusions. Gregory works with qualified experts to evaluate valuations, test their assumptions, and present credible numbers to the other side or the court.
Support when income is high
Child support and maintenance guidelines apply to income up to statutory caps that are adjusted periodically. Above the caps, the court has discretion, guided by statutory factors, over how much additional income to consider.
Tax consequences
Property transfers, retirement divisions and support arrangements have tax consequences, and Gregory coordinates with clients' accountants where appropriate. For common questions about valuation and disclosure, see the FAQ.