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Affordable Divorce Attorney for High Net Worth Clients on Long Island
All divorce proceedings, especially those involving high net worth individuals must be approached strategically and cost consciously. As a Long Island NY divorce attorney with over 20 years of experience serving clients in Nassau and Suffolk counties, I and my legal team of divorce and family law attorneys and paralegals help protect your wealth, control your costs and help you make smart decisions in your high net worth divorce settlement while controlling the costs of your divorce.
In this post, we will help you understand the complexities of high net worth divorces on Long Island, why affordability matters, what you should look for in an affordable high net worth divorce attorney. We will discuss cost saving strategies, common areas that are dealt with in high asset divorces (businesses, investments, properties), mediation, flat-fee services, prenuptial options, and the importance of local court experience. In addition, we will explain local considerations to consider for Nassau County and Suffolk County Supreme Courts, questions you should ask before you hire an divorce attorney for your complex high net worth divorce in order to control your legal costs.
Key Takeaways
- What is a High Net Worth Divorce in New York. A reasonable definition will commonly involve significant business interest/ ownership, multiple real estate holdings, complex investments and significant net worth which may be measured in millions of dollars; not necessarily a defined dollar figure.
- Common issues in High-Asset Divorces. Businesses, investments, properties, contested valuations, tracing/transfers of assets, tax implications, extended discovery and coordination among multiple experts.
- Why Affordability Matters in High-Asset Divorce. To protect your assets, experienced mid-sized Long Island divorce law firms balance the lowest cost with the highest expertise. Mid-sized law firms have the resources and connections to provide outstanding representation with an understanding of local courts that can deliver real savings to their clients. With lower overhead than Manhattan firms, they can provide expert counsel at lower rates than others charge for complex or high net worth divorces.
- Key Qualities of an Affordable High Net Worth Divorce Attorney. Experience dealing with Nassau and Suffolk County Supreme and Family courts; access to local forensic accountants, valuators and financial experts; the ability to identify fees upfront. Potentially even more importantly, prior trial experience in the local courts and access to a stable of local experts combined with candid and transparent communication with clients can make your high net worth divorce more affordable and less stressful than dealing with expensive, impersonal Manhattan law firms.
- Cost Saving Strategies for High-Asset Divorce on Long Island. Mediation and Collaborative Divorce save significant assets versus full scale litigation. Prenup and postnup agreements can decrease disputes and litigation of complex divorce issues.
- Local Considerations for Nassau and Suffolk County Clients. Retaining a local law firm experienced in high net worth divorces can save you the expense of the time and travel time billings of an out of town law firm. This lowers your costs and provides you with attorneys who are familiar with local county laws and practices.
High Net Worth Divorce Defined: What You Need to Know
I define a high net worth divorce as one involving complicated and substantial marital assets, normally above $1 million for the marital estate, and usually $5 million+ for ultra-high-net-worth cases. When we take on a high net worth divorce we expect to have to deal with partners who own businesses, multiple Long Island real estate properties in the Hamptons, North Shore or out of state, retirement benefits, trusts, offshore accounts, etc. All of these require valuation, tax planning work, and forensic investigation, so I emphasize immediate identification and preservation of assets to prevent potential dissipation of assets during the divorce while limiting the costs of hiring experts for testimony.
Criteria for High Net Worth Divorces on Long Island, New York
In defining a high net worth divorce, we look for a combination of quantitative and qualitative measures: the total marital estate is usually over $1 million, one or both of the parties to the divorce owns a business, there are stock options to deal with, significant pension or 401(k) balances, an extensive portfolio of real estate, international trusts, and a high range of income (often $250,000 or more). These matters often create additional complications to the “standard”, less complex divorce. On Long Island, New York courts also take into account commingled premarital property, family partnerships, and minority ownership in businesses that require valuations and testimony from experts.
Challenges for High Net Worth Divorces Involving Significant Assets
Valuation disputes over privately held businesses, deferred compensation, artwork, offshore account, business goodwill, tracing commingled funds and uncovering hidden transfers are common issues in high net worth divorces. We’ve often seen business valuations swing by 20% to 40% and disputes over hidden transfers and unreported income can extend the process with months of forensic discovery, turning what should be routine matters into high stakes litigation requiring specialized advisors.
Tax implications on asset division, working out spousal maintenance for six-figure incomes, and business confidentiality and disclosure issues are other challenges posed by high net worth divorces.
To handle these issues, we engage forensic accountants and business valuation experts in the very beginning of the divorce process so that we can understand the marital asset value and create litigation or settlement strategies to protect our client’s interests.
In one matter, I handled a divorce that included a health care based business that was valued at $3.2 million. The spouse claimed a 60% marital interest. A valuation expert separated premarital goodwill and post separation revenue, and arrived at a 45% marital interest, providing a negotiated payout that allowed the firm to avoid approximately $120,000 of litigation and expert fees.
In high net worth divorces, you can anticipate spending between $10,000-$40,000 for full valuations, and approximately $200-$600 per hour for forensic accounting, depending on the scope of work.
Balancing Cost vs Expertise in High Net Worth Divorces on Long Island
Because costs for forensic accounting and property valuations can get expensive, we balance the need for the best experts with the reality of litigation costs. We try to control where you spend money on your case, including valuations, forensic accounting, and expert testimony. A full business evaluation can cost between $5,000 – $30,000, and forensic accounting is usually billed at $200-500/hour, so I do my best to negotiate the scope, phases, and cap budget to provide access to experts who can help you protect your net worth without breaking the bank and depleting your assets.
Leveraging Mid-Sized Firms to Find Affordable Solutions
I rely on mid-sized firms on Long Island (like ours) to provide specialized services with lower overhead than Manhattan firms. This model gives you experienced experts that know Nassau and Suffolk courts, in-house case management, and reduced blended rates from vetted outside experts. This enables our clients to receive excellent representation and substantial savings on fees.
Ways to Reduce Costs and Expenses in a High Net Worth Divorce
When possible, we use mediation, phased discovery, and joint expert appointments keep fees manageable for our high net worth divorce clients. Mediation can often save clients 30% to 50% on overall legal fees compared to drawn out litigation. There are also limited protocols for discovery to avoid subjective document review and open-ended depositions.
Then, we focus on other specific cost controls. If the parties to the divorce appoint one neutral valuator for both parties, expert fees can be reduced by up to 50%. If the parties agree upon a valuation date in advance, the valuator is not spending time re-doing work for each client and cuts the resulting fees in half.
I limit e-discovery by creating a targeted search term list and custodians to minimize vendor fees. I negotiate hourly caps and hourly to flat transitions for experts, and I prioritize temporary orders to limit fees and stabilize cash flow. These methods regularly shave tens of thousands of dollars from total divorce expenses while achieving the same quality outcome.
Essential Attributes of a Cost-Effective High Net Worth Divorce Attorney
My practice emphasizes marked, cost-conscientious representation. I balance extensive marital asset experience with efficiency by focusing on reasonable discovery. I draw on a trusted network of valuation experts for seven-figure estates. I aggressively negotiate to avoid pointless litigation and prepare fee agreements to make your exposure more predictable. This ensures the protection of your assets, businesses, retirement accounts, real estate etc., without being surprised by open-ended hourly billing.
Local Knowledge of the Nassau County and Suffolk County Court Systems
My familiarity with Mineola, Central Islip and Riverhead family and supreme court procedures and personnel enables me to think strategically to achieve the best outcome for my clients. I know which Nassau and Suffolk matrimonial courts seek an early settlement and which judges and attorneys push for full forensic financial disclosure. I use that experience of typical local guidelines to time filings choose jurisdictional advantages and propose mediation dates that align with local court calendars to move your case efficiently and cost effectively through the system.
Access to Experts to Value or Assess Financial Assets
I coordinate with forensic accountants, CVAs, CPAs and appraisers to value businesses, the value of stock option packages and other complicated investment quantifications. I instruct experts to address discrete issues; income tracing, hidden transfers, valuation as of a particular date or valuation calculation based on specific references. I have the added value of estimating QDRO structuring for ERISA public or private pension assets, including the additional modeling on option-based approaches when evaluating stock equity compensation.
I vet experts on credentials (CPA/CFF, CVA, ASA), prior matrimonial experience and turnaround times before I scope the engagement with any expert. Then I narrow engagement scopes, utilizing sample based financial forensics or single issue valuations to keep your fees manageable. I regularly propose jointly retained neutral experts on discrete questions and clearly define the potential for duplicative expert retention to eliminate it. I require a written scope and delivery expectations in writing, so you have some expectation/calculation of cost and time commitments before engagement.
Smart Strategies to Reduce Divorce Costs
I focus on targeted strategies that cut legal fees without affecting your results, including early asset inventories, targeted discovery requests, one forensic accountant, and phased negotiations. For some Long Island clients, I have cut fees by narrowing deadlines on valuation, saving them $15,000 to $40,000 just by limiting duplication of experts and addressing liquidity prior to filing.
The Benefits of Mediation versus Traditional Litigation
Mediation typically costs between $5,000-$20,000 and often resolves cases within weeks, while contested high-asset litigation is commonly a $75,000-$250,000 process that can take months or years. I mediated value and ownership of complex estates and nuanced business disputes which would have turned into a courtroom fight for a conservatively projected expense of $140,000, with mediation costs of under $10,000. Mediation further preserves privacy and gives you control of outcomes, as well as reduced expenses for expert witnesses considerably.
The Role of Prenuptial Agreements
Prenuptial agreements that logically identify interests in business interests and spousal support with clear details, effectively halve contested litigation time. In past cases, this has saved my clients between $50,000-$200,000.
Local Knowledge of Long Island, NY
I regularly handle high net worth divorce cases in Nassau county and Suffolk county, so I can navigate local court and expert timelines efficiently. Traditional contested high-asset cases on Long Island typically take at least 18-36 months, while mediated resolutions can close in 3-6 months. I take advantage of my relationships with the Nassau County courts in Mineola and the Suffolk County courts in Central Islip and Riverhead, local valuators and local financial professionals to efficiently move the discovery process along, avoid unnecessary depositions, and reduce your expenses to dissolve your marriage efficiently.
Why Local Counsel is Better than Big City Firm Representation
Hiring a local attorney can save you thousands of dollars that a New York City firm will charge you simply for travel fees on top of hourly rates to drive from Manhattan out to Long Island. I have saved many clients tens of thousands of dollars in travel fees alone a NYC law firm will charge to visit Nassau or Suffolk courts where they may not understand the local timing, court rules, etc., driving costs up even more. We utilize reliable Long Island forensic accountants for expert testimony, quicker scheduling at more cost-effective rates, while working as a team that can schedule depositions and hearings/without duplicating work that increases your bill so we can preserve your wealth and not waste it on litigation.
Understanding New York’s Equitable Distribution Laws
I explain to clients that New York is an equitable distribution state, not a 50-50 property division split state. There are 13 statutory factors that courts will consider in dividing property in a divorce, including, but not limited to, the length of the marriage, the income of the parties to the divorce, and wasted assets.
Generally, marital property would include income and appreciation on assets during the marriage, while separate property includes premarital property, gifts, and inheritances. These cannot be transmuted unless commingled. Without question, classification of assets drives valuation and a strategy for negotiating your case.
Hiring an Affordable Divorce Attorney Is Critical to Preserve Your Assets in a High Net Worth Divorce on Long Island
At Hornberger Verbitsky, P.C. we use our extensive experience representing Long Island clients in high net worth divorces in Nassau County and Suffolk County to preserve your assets. We organize the common challenges involved in high asset divorces and develop strategies to keep more of your hard-earned property in your divorce. We utilize our experience in Nassau and Suffolk County courts, local forensic accountants, valuators and financial experts to keep your costs down in order to protect and preserve your wealth. Contact us today at 631-923-1910 for a free consultation and case evaluation for your high net worth divorce.
Choosing Mediation or Collaborative Law for Your Child Custody Case
Mediation and collaborative law have different limitations; determining which option will suit your case depends on how the dynamics of your family, your ability to communicate with your child’s other parent, and how complex your custody issue is. Mediation may be the best choice for uncomplicated cases where parents are more likely to cooperate with the process, while collaborative law may be more suited for when parents may need the structure of lawyers leading the negotiation. Your intentions with your family and the manner in which you prefer to interact with and resolve conflict will determine your choices in achieving a successful resolution without having to go to court.
Your Personal Circumstances
Your ability to negotiate and talk to your child’s other parent are likely the most important indicators of your ability to be successful in mediation. If you find direct conversation strained but both parties want to avoid litigation, collaborative law offers you legal support without engaging in disputes over a judge’s ruling. Factors to consider prior to deciding which process is most appropriate include, the history of your disputes, how quickly your arrangements need to be in place, and your level of willingness to compromise. I would encourage you to consider how much control you want over the process and the time frame for reaching a resolution.
Leveraging a Long Island Family Law Firm’s Expertise
Engaging an experienced local family law firm familiar with Long Island’s custody environment offers significant advantages. Experienced child custody attorneys can help you navigate mediation and collaborative law nuances, tailor strategies to your situation, and protect your parental rights. An experienced child custody lawyer’s knowledge of current New York custody statutes and outcomes from similar cases enables them to provide practical advice that balances legal standards with your family’s needs.
Working closely with an experienced Long Island family law firm provides access to professionals familiar with numerous custody arrangements from joint physical custody agreements to multiple visitation agreements that include complicated co-parenting schedules. Long Island family law lawyers will be practical and can provide objective and formal briefing in a process that optimizes discussions in mediation or collaborative law. For instance, an experienced child custody lawyer will know the past and current custody trends in your county, and can reasonably determine or anticipate potential custody issues as well as custody challenges that require attention. The knowledge gained from their experience can help you to focus not only in negotiations demonstrating objective standards and past legal possibilities, but allow you to enter the negotiations with reasonable expectations.
Mediation and Collaborative Law are Options to Take Your Child Custody Dispute Out of the Courtroom
If your personal situation suggests it, I would encourage you to consider mediation or collaborative law as an option to settle your custody issues. Mediation and collaborative law invite you to be at the table with your former spouse or parenting partner in a collaborative space supporting a constructive negotiation that typically leads to a uniquely personal and flexible custody agreement tailored to the specific dynamics of your family. By exploring the out of court processes available, you reduce your family’s stress and remain in control over an outcome that will best meet the unique needs of your family. If you are at an intersection of custody decisions, pursuing mediation or collaborative law may help to navigate a smoother path forward, but also a better relationship for the years to come, for you, your ex, and your child.
Hornberger Verbitsky, P.C. Family Law Attorneys Can Assist in Mediating Your Child Custody Case
At Hornberger Verbitsky, P.C., we have decades of experience in mediation and collaborative law that will help you craft a child custody arrangement that is unique to the diverse and one-of-a-kind situations of many different types of families on Long Island. We address all of your and your child’s best interest when drafting a flexible child custody agreement with clear communication and with detailed schedules. We consider your child’s needs and your situation while utilizing the New York State requirements for custody, so you can achieve a shared understanding of what has been agreed to. I encourage you to call us today to set up your no charge initial consultation and case assessment. Whenever you call 631-923-1910 or fill in the brief form on this page.
Should You Use a Parenting Plan Template or Hire a Lawyer?
Choosing between a generic parenting plan template and a custom plan tailored specifically to your family’s needs can significantly impact how smoothly custody arrangements unfold. Templates offer a straightforward, time-saving starting point, but may lack the flexibility to address unique situations like special visitation schedules or remote parenting. On Long Island, where court expectations can be meticulous, adapting a template to reflect local laws and your child’s best interests often leads to a more effective plan.
Pros and Cons of Using Parenting Plan Templates
| Pros | Cons |
| Ease of use with pre-written sections | May overlook specific family dynamics |
| Cost-effective compared to legal drafting | Risk of ambiguity without legal review |
| Speeds up the initial drafting process | Can be too generic for complex cases |
| Widely available online and through resources | Often lack guidance on New York law compliance |
| Good starting point for parents with amicable relations | Inflexible to unforeseen changes in schedules |
How a Long Island Family Law Attorney Can Help
Legal expertise helps tailor a parenting plan to your family’s unique needs while ensuring compliance with New York’s evolving custody laws. Experienced Long Island family law attorneys provide insight on factors such as jurisdiction differences on Long Island and help preempt common disputes through precise language. Suffolk and Nassau Family Courts often view professionally prepared plans more favorably, reducing the risk of modifications and extended litigation.
Working with a skilled family law attorney can uncover nuances like how weekend parenting time might interact with school calendars or how to best accommodate a parent’s work schedule. With their experience, they identify potential issues early and craft solutions aligned with court standards. This proactive approach not only safeguards your parental rights but also promotes stability and predictability for your child’s future.
Navigating the Decision: Template vs. Legal Support
Using a parenting plan template can save you time and help organize your thoughts, but it won’t cover every unique circumstance of your family’s situation. Legal support brings personalized advice and can address complex issues such as relocation, special needs, or enforcement mechanisms. Weighing the simplicity and accessibility of a template against the tailored guidance of a legal professional helps you decide which path best safeguards your child’s interests and complies with New York State requirements.
Benefits of Using a Parenting Plan Template
Parenting plan templates offer a clear structure for outlining schedules, communication methods, and decision-making roles without having to start from scratch. They help ensure you include vital topics like holidays and healthcare, reducing the risk of overlooking critical details. Many local templates reflect common legal standards, making them a helpful first step, especially if families are cooperative and disputes are minimal.
When to Seek Professional Legal Guidance for Your Parenting Plan
Complex custody arrangements, disagreements over parenting time, or concerns about child welfare often require the expertise of a family law attorney. Legal professionals can interpret New York laws, negotiate terms, and help enforce your plan if disputes arise. It is especially important to consult an attorney if either parent plans to relocate, if there are allegations of abuse, or if you anticipate difficulty reaching an agreement.
Engaging an experienced family law firm early can prevent costly court battles by clarifying rights and responsibilities right away. For example, in cases where one parent has a demanding work schedule or special medical needs for the child are involved, experienced family law attorneys can craft provisions that address these specific realities. They also ensure your parenting plan aligns with the latest state statutes and county court expectations, which vary over time and by county. This reduces the likelihood of needing costly revisions or modifications later on.
Leveraging Legal Expertise: The Role of a Long Island Family Law Attorney
Engaging a Long Island family law attorney can significantly strengthen your parenting plan by ensuring it aligns with New York’s specific legal requirements and addresses potential areas of conflict. I’ve seen attorneys skillfully tailor agreements to protect parental rights while prioritizing the child’s best interests. Their experience navigating local courts means they can anticipate challenges and suggest provisions that prevent future disputes, providing peace of mind as you move forward.
How Attorneys Can Enhance Your Parenting Plan
Attorneys bring detailed knowledge of custody laws and how they are interpreted on Long Island, helping you craft clear and enforceable terms around visitation schedules, decision-making authority, and dispute resolution. I’ve worked with clients who benefited from their attorneys’ ability to foresee complications and ensure these details fit the family’s unique circumstances. This foresight prevents ambiguity that often leads to court battles or misunderstandings down the line.
Situations When Legal Representation Is Indispensable
Legal representation becomes increasingly necessary when custody disputes grow contentious, accusations of neglect arise, or parental relocation is involved. In cases involving domestic violence or subpoenas for child protection investigations, having an experience attorney by your side ensures your rights and your child’s welfare are vigorously protected.
More detailed circumstances demanding legal representation include disagreements over parental relocation, where one parent plans to move child custody off Long Island or New York State altogether. Suffolk and Nassau courts carefully evaluate the impact of such moves on the child’s stability and relationships, often requiring expert testimony or mediation. Additionally, cases involving allegations of abuse or substance misuse compel thorough legal defense or intervention to safeguard the child’s safety, emphasizing the need for experienced counsel to navigate protective orders and social service involvement.
The Value of Expertise: How a Long Island Family Law Attorney Can Facilitate Your Parenting Plan
A Long Island family law attorney brings more than legal knowledge to your parenting plan — they can offer nuanced insight into Nassau and Suffolk family court tendencies and New York state custody guidelines. I have often seen how an experienced attorney’s involvement can clarify complex issues like decision-making authority, visitation schedules, and dispute resolution mechanisms, helping you avoid vague language that breeds conflict. A family law attorney’s expertise can ensure your plan not only complies with New York state law but also anticipates potential challenges, guiding you toward a more stable and workable arrangement tailored specifically to your family’s needs.
Tailoring Your Plan to Fit Legal Standards
New York state law prioritizes the child’s best interests, requiring parenting plans to detail custody, visitation, and communication clearly. As your attorney, I would help structure your plan around these mandates, incorporating specifics like holiday schedules, transportation logistics, and healthcare decisions to align with legal expectations. This approach minimizes court pushback or revisions, safeguarding your plan’s enforceability while reflecting your family’s unique dynamics.
Mediating Between Parties for Optimal Outcomes
Facilitating productive dialogue between parents often defuses tension and fosters cooperation. I guide negotiations toward realistic compromises, balancing each parent’s concerns with the child’s stability. Mediation reduces costly court battles, allowing you to resolve disagreements by focusing on your child’s consistent care rather than conflict.
I’ve observed how skilled mediation facilitation can transform contentious standoffs into mutually acceptable agreements. With techniques like active listening and reframing issues, I help parents identify common goals, whether it’s coordinating schedules around work commitments or agreeing on educational choices. For example, in a recent Long Island case, mediation helped parents navigate differing opinions on extracurricular activities, resulting in a flexible schedule that honored both viewpoints. These outcomes stem from a mediator’s ability to maintain impartiality and focus on practical solutions rather than emotional disputes, which ultimately creates a stronger, more durable parenting plan.
A Strong Parenting Plan Ensures a Smooth Child Custody Experience on Long Island
With these considerations in mind, I believe you can create a strong parenting plan structure that supports your child’s best interests and fits the unique dynamics of your family. By clearly outlining schedules, communication methods, and responsibilities, you provide stability and clarity for everyone involved. Your thoughtful approach will not only align with Long Island child custody standards but also help reduce stress during an already challenging time. I encourage you to take the time necessary to craft a plan that truly works for your family’s needs.
How Hornberger Verbitsky, P.C. Family Law Attorneys Can Help with Your Parenting Plan
At Hornberger Verbitsky, P.C., we have decades of experience creating parenting plans that address New York state standards , Nassau and Suffolk court preferences and most importantly, the unique circumstances of your family. We focus on clear communication, detailed schedules, and flexibility when creating your parenting plan to address your child custody options. By addressing your child’s needs and following New York State guidelines, you can help ensure both you and your ex have a shared understanding and commitment. The well-crafted plan we will help you create will support your child’s well-being and reduce stress during these challenging times. Contact us now for a free initial consultation and case evaluation. Our team is ready to help you when you call 691-923-1910 or fill in the short form on this page.
“Annemarie Lanni represented me and I could not have asked for a better experience. Annemarie is exactly what you hope for in a lawyer and makes the best possible experience out of a bad situation. Annemarie takes the time and effort to fully understand your position and goals and then uses her expertise to devise a strategy that works perfectly for you. She is a great listener and someone you can really trust. I would recommend Annemarie to anyone.”
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Horberger Verbitsky, P.C. partners Robert E. Hornberger, Esq. and Christine M. Verbitsky, Esq.
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Frequently Asked Questions About High Net Worth Divorce Lawyers
Q: What qualifies as a high net worth divorce in New York?
A: A high net worth divorce in New York is not currently defined by a fixed dollar amount cut-off; instead, the criteria is the marital assets or liabilities and the complexity of those is what qualifies it as a high net worth divorce.
- Common signs of a HNW divorce can include:
- ownership of a closely held business
- multiple property real estate portfolios (including investment property and out of state property)
- significant retirement plans and pensions
- substantial investment account portfolios
- stock options or restricted equity
- sophisticated tax-deferred compensation (deferred comp, deferred bonuses)
- complex debt or trust issues.
Common high net worth divorce cases are often seen to have the value of the marital estate in the low or high seven figures and often require valuation experts and forensic accounting or sophisticated tax planning.
Q: What are the main challenges in high-asset divorces involving businesses, investments or property?
A: Key challenges in high-asset divorces involving businesses, investments or property include:
- valuation of the businesses and illiquid assets
- tracing commingled funds
- uncovering hidden or transferred assets
- complex ownership structures and the valuation of minority interests
- splitting retirement plans and deferred compensation
- terminating or splitting investment portfolios in a tax-efficient manner
- negotiating commercial real estate appraisals and mortgage divisions
- incurring substantial discovery and expert witness costs
Tactical barriers include:
- timing of preserving business value
- avoiding confidentiality breaches
- coordinating legal strategy with tax and financial advisors to prevent unintended tax consequences of settlements
Q: How can a mid-sized Long Island family law firm balance cost and experience for high net worth divorce clients?
A: A mid-sized Long Island divorce and family law firm can provide experienced senior-level legal strategy and execution without the high prices of Manhattan overhead. A mid-sized law firm can have experienced partners do all the strategy and client communications while having experienced associates and paralegals do discovery, document management, and other task-oriented work. Experienced mid-sized firms often have relationships and familiarity with local courts in Nassau and Suffolk counties, have established relationships with regional financial experts, and are willing to take alternative fee proposals. Such a structure keeps hourly costs lower, minimizes the time spent handling cases in local courts, and reserve the costs of experts for major issues that will add substantial value to the divorce proceeding.
Q: What steps can be taken to reduce unnecessary costs in complex divorce cases?
A. Narrowing the scope of pleadings and focused discovery requests will help to constrain costs in high net worth divorces. Using narrowly tailored forensic accounting and valuation engagement letters are also key; requiring preliminary financial disclosure will narrow the issues in dispute; and phased litigation (for example, resolve interim support and custody issues first, then move on to more complex issues); and utilizing local experts to reduce travel and hourly rates. Early mediation or settlement conferences can reduce the amount of issues to litigate, lowering overall costs. Requiring written budgets for expert work; e-discovery vendors that include cost controls; and negotiating fee caps or retainers that align incentives between client and counsel can also keep costs down.
Q. How important is attorney access to forensic accountants, valuators, and any other financial experts?
A. A skilled high net worth divorce attorney will recognize when expert work is required and will tightly scope the work to keep costs manageable. These attorneys will coordinate the work and/or testimony of any experts to support negotiations or trials. An affordable high net worth attorney will use vetted, local experts familiar both with the Long Island and New York markets and will negotiate fixed fee arrangements where feasible. These attorneys will factor expert findings into a litigation or settlement strategy avoiding expensive and costly duplicative analyses. The key is to retain experts in proportion to the contested value of assets.
Q. What should I expect regarding attorney cost transparency and client communication?
A. A written fee agreement should include details about how you will billed (hourly, capped, or flat fee for discrete phases or unbundled tasks), deposit amount and terms, payment frequency, itemized invoicing, projected budgets for expert and court costs, and a process for resolving fee disputes. Good counsel gives regular status updates, anticipates major costs, provides settlement vs. litigation estimates, and will never incur major expert costs or litigation costs without first obtaining your informed approval.
Q. When do mediation or collaborative divorce save money in high net worth cases?
A. When both parties are prepared to provide full financial disclosure and negotiate in good faith, mediation or collaborative divorce processes can save huge amounts of time, discovery, and expert costs. These alternative dispute resolution strategies preserve confidentiality, allow creative ways of structuring settlements (tax planning, phased buyouts, equity transfers, etc.), and avoid an unpredictable court calendar. However, when either party engages in a pattern of strategic concealment of assets; circumvention of meaningful discovery; or engages in aggressive litigation tactics for leverage and manipulation; the most effective option is often to utilize a targeted litigation approach while also bringing the option of mediation on specific issues to assist in finding a cost-benefit balance.
About the Author
Robert E. Hornberger, Esq., Founding Partner, Hornberger Verbitsky, P.C.
- Over 20 years practicing matrimonial law
- Over 1,000 cases successfully resolved
- Founder and Partner of Hornberger Verbitsky, P.C.
- Experienced and compassionate Long Island Divorce Attorney, Family Law Attorney, and Divorce Mediator
- Licensed to practice law in the State of New York
- New York State Bar Association member
- Nassau County Bar Association member
- Suffolk County Bar Association member
- “Super Lawyer” Metro Rising Star
- Nominated Best of Long Island Divorce Attorney four consecutive years
- Alternative Dispute Resolution Committee Contributor
- Collaborative Law Association of New York – Former Director
- Martindale Hubbell Distinguished Designation
- America’s Most Honored Professionals – Top 5%
- Lead Counsel Rated – Divorce Law
- American Institute of Family Law Attorneys 10 Best
- International Academy of Collaborative Professionals
- Graduate of Hofstra University School of Law
- Double Bachelor’s degrees in Philosophy, Politics & Law and History from SUNY Binghamton University
- Full Robert E. Hornberger, Esq. Bio
