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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“My husband and I used Dan as our real estate lawyer as a buyer and he was the best! Great follow up! He stayed on top of everything. Dan always communicated with us if he needed something from us or for any input we had in responding to the seller's lawyer. He was also very knowledgeable - most of the time I have no idea what was going on, but he was always patient enough to explain it to me. I also had the pleasure of meeting Steve - he put everyone in an easy mood when the title company was late to the closing. I would definitely use them again!”- Jennifer R.
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“Lane and Lane is a wonderful family-owned law firm. From the moment I stepped into the office, I felt at ease. Dan Lane is knowledgeable, personable and knows how to get the job done. Dan Lane won my FRO case and I finally feel at peace. Thank you, Lane & Lane, for your outstanding service.”- Robin G.
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“It's always difficult when you are dealing with divorce situations. Daniel Lane really helped by understanding my dilemmas and providing honest and realistic feedback. Would definitely recommend their services.”- Karen J.
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“Eric definitely had my best interests at heart.”- Austin
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“I would highly recommend relying on Daniel should you need his service.”- Eric
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“I have used Lane & Lane and I was very happy with the way they handle my case. Very professional. I would recommend Lane & Lane to anybody that needs a good divorce lawyer.”- Emilio R.
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“Eric is very thorough and he makes sure that your needs are heard and met. I highly recommend Eric Lane for your legal needs.”- Chandra
