NYC family law attorney S. Susan Gross discusses examples of complex property. She notes that one of the most complex types of property they currently handle are carried interests in hedge funds. Representing hedge fund managers or their spouses, she notes that carried interests are future interests tied to the performance of the fund. Valuing these assets is particularly challenging, as it requires experts to essentially forecast the fund’s future performance. Determining how to distribute such assets fairly adds an additional layer of complexity.

She also highlights that some assets may appear straightforward but can be equally complicated, such as artwork. While a painting may seem simple, its valuation, decisions regarding retention or sale, and potential tax implications can make it complex in a divorce context. She points out that experts may differ significantly in their appraisals—for instance, one may value an Andy Warhol at $50 million while another assesses it at $30 million—turning even a seemingly simple asset into a challenging issue.