When a family law case involves a high-net-worth couple, the equitable division of marital assets can become a complex and daunting task. While a family law attorney is an expert in matters of domestic relations, they may not possess the specialized knowledge required to navigate the intricacies of trusts, family businesses, or other complex financial structures. In these scenarios, a strategic partnership with a fiduciary litigation firm can provide a crucial advantage, offering the specialized expertise needed to protect a client’s interests and ensure all marital property is properly accounted for.
The Financial Complexity of Fiduciary Disputes
“Fiduciary litigation requires a deep dive into financial records and legal obligations, ensuring that our clients’ financial rights are protected if they find themselves headed toward divorce,” says Adam Gaslowitz, a founding partner of Gaslowitz Frankel. Gaslowitz specializes in representing individuals and financial institutions in complex disputes involving wills, estates, trusts, guardianships, businesses, and securities. His business background in accounting and finance gives him a unique ability to unravel these complex financial issues.
The Litigation Process: Assessing the Assets
Family law attorneys seek fiduciary firms to untangle complex cases of asset management, beneficiary rights, and the interpretation of trust documents. Fiduciary litigators provide a detailed analysis of a trust to determine whether assets have been properly transferred, titled, or managed. In many instances, the simple act of checking for proper titling can uncover assets that were thought to be off-limits. One of the goals is to educate family lawyers on what to look for, such as making sure the life insurance is properly titled or that the accounts are not joint tenancy with rights of survivorship after the divorce is finalized.
A Collaborative and Strategic Approach
LeAnne M. Gilbert, an attorney at Gaslowitz Frankel who specializes in fiduciary and commercial litigation, emphasizes the symbiotic relationship between family lawyers and fiduciary litigators. “Family lawyers who have worked with us will call us to consult when trust questions come up that they don’t really need full co-counsel on,” Gilbert explains.
This level of collaboration can provide immense value to a family lawyer who simply needs to understand how a trust fits into the estate plan and what to look out for in their settlement agreements.
This partnership ensures that a family law attorney has access to the full breadth of legal and financial expertise required to handle these sensitive cases. This is essential in high-net-worth divorces.
Fiduciary litigators are also prepared to provide seasoned representation should it become necessary to engage them as co-counsel. The goal is to provide the specialized support family law attorneys need to navigate the complexities of family law cases that involve fiduciary responsibilities, ensuring that your client achieves the best possible outcome.
The attorneys of Gaslowitz Frankel have extensive experience in addressing the intricate issues inherent in will, trust, estate, business, and securities disputes. For reliable guidance in estate law and fiduciary litigation, contact the attorneys of Gaslowitz Frankel today.
