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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“Met with Dan on a project. I also had discussions with one of the largest firms in the state and after both meetings, what I recognized is that the larger firms just take cookie-cutter documents and don’t take the time to listen to a client's needs. Dan took the time to educate me on what the project required and how to complete it. He listened and educated, versus the other firm just asking what do you need (note I had no idea where to begin on the document) and then talking at you like a number. I highly recommend Dan.”- David M.
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“Throughout the process, Dan constantly put my interests, goals, and objectives front and center.”- Jay K.
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“I worked with Steven Lane and personally he is like family now. An amazing attorney I worked with him two years ago and haven’t stopped. He is emotionally invested but also emotionally removed enough to tell you what he thinks would be better. I have called him at very inconvenient hours in distress and he has been responsive and takes immediate action. Grateful for him & he also has an amazing team very polite and courteous.”- Lysette P.
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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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“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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“Dan was great, very upfront and honest. Explained everything fully and to the point.”- Adam C.
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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
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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.
