Somerset County High-Asset Divorce Lawyers
Top-Quality Legal Representation for Clients in Morris, Union, Middlesex & Essex Counties
High-asset divorce can prove more difficult than a traditional divorce due to the amount of assets involved. While both types of divorce cover the same issues, the stakes in a high-asset divorce are much higher, especially when it comes time to divide property and valuable assets. As a result, high-asset divorce cases can quickly turn contentious.
What Is a High-Asset Divorce?
High-asset divorces typically involve over $1 million in liquid assets.
These assets may include, but are not limited to, the following:
- High-value property
- Business shares
- Retirement accounts (401(k)s and traditional or Roth IRAs)
- Investment accounts, stocks, bonds, mutual funds, and cash
- Patents, copyrights, and trademarks
- Marital home
- Vehicles
- Art collections, antiques, artwork, furniture, and other valuables
- Stock
- Restricted stock
- Stock options
- Nontraditional forms of compensation
Special Considerations for a High-Asset Divorce
There are special considerations that affect the way a high-asset case should be approached. It is important to ensure that you consult with a reputable lawyer who is experienced in this type of divorce.
Some considerations that will be brought up include, but are not limited to the following:
Complex asset division needs
One of the most significant legal issues that couples deal with in a high-asset divorce is the division of marital property. As New Jersey is an equitable distribution state, assets and property will be divided in a manner the court deems just and fair.
Tax consequences
When transferring or dividing property or substantial financial assets, there are significant tax implications involved. As such, it is beneficial to take this into consideration when negotiating a divorce agreement.
If you and your spouse entered into a prenuptial or postnuptial agreement, you will need to adhere to it while forming your divorce agreement. The divorce process will get more complicated if one spouse attempts to challenge the validity of the agreement. In the event this happens, you will need to consult with your lawyer to prove the legality of your prenuptial or postnuptial agreement in court.
Hidden assets
It is possible that one spouse is more likely to hide certain assets in a high-asset divorce to keep them as separate property. If this happens, the other spouse will need to investigate and potentially hire a forensic accountant for further assistance. If you suspect your spouse has offshore accounts, is transferring money to a third party, or deferring compensation, seek legal assistance immediately.
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“Quick, knowledgeable, professional, and very responsive to questions and inquiries. A positive experience from reception-to-attorney. I would request legal services from Lane & Lane again as well as recommend them to others.”- Orlando H.
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“Dan was great, very upfront and honest. Explained everything fully and to the point.”- Adam C.
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“Thanks, Dan for an honorable experience and faith restored in the legal system.”- Glenn P.
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“Mr. Steven Lane, Lane and Lane were so helpful giving expert advice and giving direction with my issues. They always followed the law and with their direction and legal advice, they were gentle and understanding.”- Former Client
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“Because Daniel Lane’s specialty is matrimonial law, I found him to be experienced and tough, but also kind and willing to negotiate to settle the dispute.”- Former Client
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“Eric Lane is just awesome! He has been handling my case since my divorce was finalized, which sounds strange - but true. There have been incessant frivolous motions one after another in the courts since my divorce and Eric has been amazing to work with. He not only took care of all the cases and made sure that I was protected, but also offered great advice during the process. Two Thumbs up!!”- Former Client
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“Professional and outstanding attorneys. Eric Lane provided exceptional service handling all my personal legal issues.”- Walter R.
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“I have personally worked with Eric Lane on numerous occasions for transaction insight and due diligence purposes while reviewing new opportunities for my business. His service was always extremely professional, helpful and prompt. Eric was able to give me valuable knowledge while helping to negotiate leases for new potential locations, as well as finding out information about the local township and regulations that would affect my business decisions; making me aware of things I wasn't and helping me to better understand things that I wasn't very familiar with. Whether a new business starting out or an established company looking to grow, I would highly recommend his services. I look forward to continuing to seek Eric's opinion and professional services in the future.”- Michael L.
