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 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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“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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“Daniel Lane helped me execute my divorce after an independent mediation. He was very professional, easy to deal with and sensitive to the procedure. That was the most unexpected and pleasantly surprising part of our relationship during the process. During his consultations, he dealt with me as a person first and foremost, not just a client on a retainer. I highly recommend him and his practice.”- Joe P.
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“I hired Steve to represent me in my divorce. He is am amazing, knowledgeable lawyer and a good man. He's honest, upfront, caring, calming and never made me feel like just a client.”- Melissa
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“Dan's patience and understanding allowed me to put trust in someone at a time when that was most difficult for me.”- Dominic
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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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“Throughout the process, Dan constantly put my interests, goals, and objectives front and center.”- Jay K.
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“I can't say enough positive things about this firm. I dealt primarily with Eric Lane and he was nothing short of a "consummate professional". He was there for me at every turn in my case, ready to provide whatever support was needed by me. Not only was he able to deliver a satisfactory result in my situation, but he legitimately exceeded expectations. I don't hope to have to require legal representation again anytime soon, but if I do there is no doubt that I will be turning to Eric and company at Lane & Lane.”- Christian P.
