Property Division Attorney in New York, New York

What issues commonly arise in the division of complex property?

NYC family law attorney Dan Rottenstreich talks about the issues that commonly arise in the division of complex property.

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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

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