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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“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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“Lane & Lane did a great job representing me in my divorce. Dan Lane is the best - I highly recommend him!”- Beth Ann L.
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“It was a pleasure working with Dan Lane and his team. They were professional and went above and beyond to ensure that my case proceeded smoothly and in a timely fashion without any judgement. This is a great starting point for anyone looking for legal counsel for a good value with exceptional results. It is clear from the get-go that Dan is a hard-working organized individual who can think quickly on his feet.”- Former Client
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“Can't say enough good things about Dan and his firm.”- Jon
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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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“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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“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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“Steven made me feel like someone "had my back". He is a consummate professional, has a responsive staff, and I would certainly use his legal services again should the need arise.”- Former Client
