High Asset Divorces Involving Property
In Newsday June 26, 2013, was a tragic case whereby a woman settled a divorce for a paltry $12,000,000. It may not sound tragic, however, her attorney agreed a certain building was worth only $7,700,000 (a well known Garden City law firm). The building sold for $84,500,000.00 immediately after the divorce was over. Thousands of pages worth of legal papers; albeit stacks of motions and litigations attempted to undo what was sloppily done by the Garden City firm. The headline in Newsday was “Ex-wife loses bid to share windfall”. She lost. Assuming an appeal will be made; appeals are only done when someone loses.
The moral of this story is: Is your lawyer a savvy business person? Is your lawyer someone who is used to large deals and who will not be out-smarted by a real estate mogul? Is your lawyer going to agree to a value of a building and not revisit to valuation years later?
At Bryan L. Salamone & Associates, P.C. we have handled real estate divorces including celebrities real estate moguls and titans of industry. We have handled international divorces with 9 figure income levels. We have seen more asset based cases than most any other firm and we will not settle your case unless you know the value of what you are giving away.
Clearly, an attorney that fails to reappraise a property in today’s volatile real estate markets or in the borough of Brooklyn (subject to rezoning and great fluctuation), such as in this case, will be doing a disservice to the client.
In the mid 1990’s, Bryan L. Salamone & Associates, P.C. handled many cases as the internet was in its basic infancy and so was cell phone usage. Bryan L. Salamone personally handled cases involving what is now known as “Apps” whereby certain start up companies were creating internet technologies or mobile technologies and had companies that were worth nothing or less than nothing, that later grew to billion dollar companies. These assets were the subject of many divorces from 1996-2002. It wasn’t until approximately 2003 that the emerging internet technology; mobile technology; and world wide web technologies began to stabilize and people were able to better evaluate and appraise the start up companies; and “technologies”, as well as patents. Mr. Salamone has handled all of these in divorce matters and has represented both sides. In 2008 to the present, Mr. Salamone has been representing clients in divorces involving complex real estate and financing problems/issues. After the bubble of 2008 there was an incredible amount of money lost or gained. As the markets begin to emerge again we have confidence that the attorneys in Bryan L. Salamone, P.C. have their finger on the pulse of both the economy; the real estate market; and have their attention focused on you obtaining the best results and the best advice so that you can finalize your divorce knowing exactly what you are getting and the value of what you have received.
Bryan Salamone is available personally for consultations and the firm is available at a reasonable rate regardless of a person’s income level. Bryan Salamone handles everything from basic mediation and uncontested divorces. Some divorces can be handled in one day. He is also known for the high volume complex cases that make news on a daily basis.