PROFILES
LAURENCE P. GREENBERG COMBATING SUDDEN INCOME DEFICIT SYNDROME By Dylan Trident
Laurence Greenberg leaving Family Court with NBA Player Lance Stephenson following victory in paternity/child support case.
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he Law Firm of Laurence P. Greenberg is known to anyone in the know. Why? Because this boutique matrimonial practice frequently goes up against larger firms and has an extremely impressive track record handling New York’s most complex and heavily litigated divorce cases. However, what separates Greenberg’s firm from its competitors is that each client is treated as though they are the firm’s only client. “Rather than pawning our clients off to an army of inexperienced young associates, we take pride in the personal attention we provide to each of our clients,” says Greenberg. “The face you see at your initial consultation is the face you will see throughout the matter and at every court appearance.” This focus on individualized service also requires Attorney Greenberg to be selective as to which matters he takes on. While a typical client of the firm is a wealthy Manhattanite involved in a high-conflict divorce, Greenberg’s focus is not all about the money. “First and foremost, we use our negotiating prowess to protect the children and insulate them from the negative ramifications of a divorce.” While Greenberg is a seasoned litigator with respect to both custody and financial issues, he makes every effort to avoid custody trials and their collateral damage. Once Greenberg is satisfied that issues related to custody, decision-making, and parenting access are resolved, he has no qualms about going to war over finances if that is what required. That said, the Manhattan-based Greenberg knows that living in New York is expensive and that maintaining a high standard of living during and after a divorce may be an uphill battle, but one Greenberg and his associates are capable of winning. In two recent cases, the New York appeals court upheld decisions in which Greenberg successfully argued that the husbands’ incomes were far in excess of what they were claiming. This phenomenon, which Greenberg refers to as “sudden income deficit syndrome,” SocialLifeMagazine.com
is quite common in highstakes divorce, especially where one spouse is a stay-at-home parent. “In order to be effective, your divorce lawyer needs to understand your finances. This often requires absorbing large amounts of complex financial information quickly. As someone with a strong background in finance and accounting, I understand that tax returns often do not reflect a true financial picture,” says Greenberg. “If your standard of living is high — children enrolled in private school, owned property in Manhattan, a house in the Hamptons — it is likely your spouse earns a sufficient income to support those costs, regardless of what is reported to the taxing authorities. However, proving that level of income may be more difficult than it might appear and often involves a costly, time-consuming financial analysis.” When representing a non-monied spouse, one of the first actions that Greenberg takes is to make an immediate application to the court to not only secure monthly support but also to ensure that his client is awarded adequate funds to pay for both legal and expert fees. “Interim counsel fees are awarded to level the playing field and prevent the more affluent spouse from wearing down or financially punishing the other party,” says Greenberg. “While not every divorce case requires all out war, unfortunately in certain cases that is exactly what is required to obtain a fair result.” Regardless of whether a matter settles or goes to trial, one thing that is certain is that the attorneys of The Law Firm of Laurence P. Greenberg take pride in their work and obtain the best results for each and every client. The Law Firm of Laurence P. Greenberg lpgdivorce.com 299 Broadway 212.608.9000