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when you’re dividing complex property
um i i guess the first thing i would say
is the word complex i take exception to
often i use convoluted if there are
complex issues our job
one of our main jobs
is to make the complex
simple
and it doesn’t matter what area
it may be it could be biotech
intellectual property
hedge funds finance real estate we come
across a lot of sort of convoluted
financial issues
our job is to understand those issues
and break them down into simple
terms and i think that’s something that
we do
a good job of so i shy away from complex
and i say we may end up with a lot of
convoluted
issues that we have to sort of organize
and then present to a judge often
or mediator and explain why
the outcome should be consistent with
what it is
that we’re advocating for
so you could have cases that have let’s
say i don’t know 50 bank accounts and
international companies or offshore
trusts and you know you might even have
frauds uh fake document whatever it
might be there might be a lot going on
but what we have to do is sort of just
break it down piece by piece
and the first step in the process is to
sort of identify what all the assets
are
oftentimes there’s a disclosure made
preliminarily and then we would verify
whether the disclosure is accurate then
we would get engage in discovery to
figure out whether we’re accounting for
all of the assets
and then we would go about valuing the
assets and some assets are much more
difficult to value than other assets and
again you know we can have a case that
has a hundred literally a hundred
different types of assets and our job is
to really just break it down piece by
piece asset by asset or asset group by
asset group and explain to a judge what
it is that we want and why it should
turn out the way we want it to turn out
you know but sometimes discovery’s a
problem maybe we can’t get as much
discovery we don’t know for sure if
we’ve accounted for all the assets and
whether we’ve gotten enough information
to value all the assets those are issues
we deal with
day-to-day
sometimes there’s an international
aspect to it as well you may not be able
to get information overseas as easily as
we could get information for domestic
assets
valuation is tricky sometimes you know
sometimes valuations
are based upon assumptions or oftentimes
they’re based upon assumptions
and we work with experts to understand
their methodology and make sure that the
data supports their methodology and then
ultimately we’re also arguing about
percentages if we’ve identified all the
assets and valued all the assets the
next step would be to figure out what
the right percentage distribution would
be
Contact What issues commonly arise in the division of complex property?
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NYC family law attorney Dan Rottenstreich talks about the issues that commonly arise in the division of complex property.