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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“Dan and his staff did a great job handling my divorce. Due to COVID, my previous attorney bailed on me and Dan was able to take over my case and bring it to closure. He was very professional and supportive throughout the entire process. Dan always responds promptly and I highly recommend him and his staff.”- Former Client
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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.
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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.”- Anastasios
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“Mr. Lane was recommended to me by another one of his clients. He helped me to solve a problem I thought would never be solved. I will definitely reach out to Mr. Lane to represent my family in any other matters.”- Gabriela S.
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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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“Lane & Lane have been a huge help for our business. They've helped us navigate federal regulations, state regulations, buyout agreements, and corporate structure updates. They're accessible and timely, highly recommend.”- Colby J.
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“If you find yourself reading these reviews, you are clearly going through a tough time or helping someone who is. Going through a divorce can be devastating and it's far from easy. Eric Lane represented me for a number of issues over the course of over 18 months. His experience, demeanor, and thoughtful approach significantly helped make the best of an unfortunately difficult process. My short advice here is the process is what you make of it and Eric is a fantastic support to get you through it. Eric was responsive, fair, and transparent in all aspects. He took the time to understand what I wanted, and what my concerns were. I never felt rushed and always felt like he was fully vested in having a positive outcome. His advice was thoughtful, realistic, and I always felt like we had a game plan - which prepared me for what to expect each step of the way. I'm sure he has multiple clients at any given time, but with everything on his plate, I always felt like a priority. I would highly recommend anyone considering a divorce attorney to sit with Eric and get his opinion.”- Arpan S.
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“Eric took the time to listen to my concerns and helped me to make informed decisions based on my situation.”- ZP
