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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“Eric was with me every step of the way and I felt that he had my best interests at heart.”- Aus
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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 Lane is very professional and cares about his clients. Dan and his team work diligently to get things done.”- Jessica W.
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“I have been in a custody battle since my daughter was 3 years old. Multiple attorneys and honestly no one has been more competent as Steven Lane. He is always in contact and has been so knowledgeable. He honestly put me at peace in a very difficult time. He is very versed in his profession and honestly I wish I had met him years prior, I actually started to get proper justice when I hired him. He is understanding and caring as well as his staff has phenomenal character. I couldn't recommend this attorney enough.”- Lysette
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“He was very knowledgeable, trustworthy, and informative lawyer, during the whole process. Always kept me informed of the process and how things would work, any questions I had he was always there to listen and get me an answer for anything I had a concern with, I would totally recommend him and the firm to anyone.”- Michele
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“Steven worked diligently to represent my best interests. He went above and beyond to be sure I understood every detail of every document relevant to my divorce. He spoke to me with respect and in a down-to-earth manner. His efforts resulted in a very favorable decision, weighted on my side of the field. I have already referred Steve and his firm to friends, at least one of whom has hired him. Well done L&L. Thank you.”- Billy M.
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“Extremely professional and hard-working attorneys. Eric Lane provided me with exceptional service and was always there to answer my questions.”- Angela R.
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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
