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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“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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“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 mediator/attorney, I have worked with Lane and Lane for years and send them clients. They are always prepared, know their files and respond to emails and letters as needed. Their staff is well trained, always friendly and easy to work with. They can handle even complex and difficult cases.”- Joan G.
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“Eric was recommended to me in 2013 when I was going through a very difficult divorce and custody fight. He’s been with me every step of the way. It’s been a long journey and he’s been supportive and has continued to fight for me. He’s made a very difficult process a bit less stressful and easier. Always willing to talk to me about my concerns. I can’t say enough about him. He’s been amazing. I definitely would recommend this law office to anyone who is dealing with the stress of divorce.”- Jessica C.
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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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“The attorneys at Lane & Lane are clearly experts in the matrimonial field. Every client I have referred has reported back a great experience. I refer them without hesitation for 5-star representation.”- Ed R.
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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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“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
