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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“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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“I can’t say enough about Dan and the Lane & Lane firm. Dan carefully listened to all my concerns and goals throughout this process and explained everything that was required to meet my goals. Dan is always available whenever I call him for any questions or concerns. I would recommend Dan and the Lane & Lane firm to anyone looking to get any legal advice in the state of NJ, they are top-notch. Thank you, Lane, & Lane for your outstanding service.”- Satish P.
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“Dan & his staff are professional, courteous & knowledgeable. Dan returned my phone calls & emails in a timely manner & made me feel like I was his most important client. He went above & beyond for me. I highly recommend Lane & Lane.”- Jim J.
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“Good, family-owned law firm. My wife and I didn't know much about wills, but knew we needed a plan to handle our assets and, most importantly, ensure our children were cared for if anything ever happened to us. As parents themselves, they understood our concerns and guided us through the documents and subsequent decisions we needed to make. In the end, we are relieved to have these official documents and are confident they will serve their purpose should they ever be needed.”- Brad C.
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“I wouldn't trust anyone else to help guide me through family law. Not only are they extremely knowledgeable about divorce and other family matters, but they have solid finance and accounting backgrounds as well. Support on the financials is huge. They are true specialists and it shows compared to other firms that cover many areas of law.”- Lawrence W.
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“As a local divorce lawyer, I have had a few cases with Lane & Lane. They are honorable attorneys that stand firm for their clients. As a divorce lawyer, you will respect those adversaries who are tough but fair. That perfectly describes this firm. Their clients are lucky to have them. The firm also does a great deal for the local community. They are first-rate and true gentlemen. They also have great staff.”- Carl T.
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“I would recommend Lane and Lane in a heartbeat to anyone who needs counsel. They are honest, caring and will always be there when you need them.”- Carl
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“Thank you so much Steve Lane and Lane & Lane firm for the outstanding representation you have given me! I was very impressed with how knowledgeable Steve is and how welcoming and friendly he and his staff is. Steve made me feel comfortable and confident and always exhibited dedication and concern for my situation. Always professional and compassionate! I would recommend Lane & Lane to anyone. Again, thank you so much Steve for you amazing help!”- Anastasios B.
