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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“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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“Upon meeting Steven Lane, he saw me right away and I could tell he was the lawyer I wanted to work with. He was very professional and personable. He kept in constant communication, even on weekends when I was panicking about an issue.”- Joseph O.
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“Excellent Experience. Daniel Lane was very helpful and readily available. He was able to explain everything in detail and always put us at ease. He made us feel like family and handled our case as if it was his own personal family matter. Awesome lawyer. Highly recommended.”- Kaajal R.
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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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“From the initial consultation and throughout the legal process, Dan and his firm made me feel that my case was of utmost priority.”- John D.
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“Lane and Lane LLC is highly professional and stands out from the rest! Not only are they reliable, so your mind is at ease that they will get the job done, but they are personable and have their client's best interest at heart. Lane & Lane truly has their client's backs, and we are so grateful to them.”- Antonella B.
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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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“If peace of mind is what you are looking for, I recommend Daniel.”- Brad
