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 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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“I would highly recommend Dan for any case related to Family Law.”- Former Client
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“I recently used Eric Lane to handle a very ugly divorce I was going through. I had started with a different attorney and decided to switch to Eric and am so glad I did. He gave me the facts straight and handled me as well as my dispute excellently. I have recommended Eric to a friend already, who has also recommended another mutual friend. I would suggest to anyone who unfortunately is getting divorced to go and see him for a consultation.”- Gary R.
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“Daniel Lane was very helpful and most of all listened to what I had to say. He took the time to see me and was always in communication. His office and staff are very professional and accommodating. Highly recommended.”- Giuseppe B.
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“I highly recommend hiring Daniel Lane to represent you with your legal matters. He handled my case with the utmost professionalism and sincerity. I found him to be highly attentive and knowledgeable to reach a positive resolution with my legal issue.”- Former Client
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“I am a bit overdue with this review. Lane and Lane helped me through what seemed at the time to be one of the hardest points in my life. Mr. Steven Lane and his assistant Dana went above and beyond for me throughout my entire divorce from beginning to end. Mr. Lane was always available when I needed him and always made me feel like a priority. He by far exceeded my expectations and for that, I am truly grateful. At all times it was obvious that my and my children's best interest was what was most important to him and that you can not put a price tag on. Mr. Lane made a promise to me at the beginning of the process which was "we go to the dance together and we leave the dance together" meaning at no point would he leave me to fight this battle alone. As silly as it may sound, that has stuck with me since he said it and that was one of the most comforting things anyone has ever said to me. I highly recommend Lane and Lane LLC. They are a family run business that cares about family and that is hard to find nowadays. Thank you again, Mr. Lane.”- Jessica W.
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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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“Throughout the process, Dan constantly put my interests, goals, and objectives front and center.”- Jay K.
