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 was with me every step of the way and I felt that he had my best interests at heart.”- Aus
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“Because Daniel Lane’s specialty is matrimonial law, I found him to be experienced and tough, but also kind and willing to negotiate to settle the dispute.”- Former Client
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“Eric Lane is just awesome! He has been handling my case since my divorce was finalized, which sounds strange - but true. There have been incessant frivolous motions one after another in the courts since my divorce and Eric has been amazing to work with. He not only took care of all the cases and made sure that I was protected, but also offered great advice during the process. Two Thumbs up!!”- Former Client
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“Steve Lane has many years of experience in all areas of family and matrimonial law and that is why I chose him to be my attorney.”- Alice G.
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“Dan & his staff are professional, courteous & knowledgeable. Dan returned my phone calls & emails in a timely manner & made me feel like I was his most important client. He went above & beyond for me. I highly recommend Lane & Lane.”- Jim J.
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“It's always difficult when you are dealing with divorce situations. Daniel Lane really helped by understanding my dilemmas and providing honest and realistic feedback. Would definitely recommend their services.”- Karen J.
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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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“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.
