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.
-
“Daniel got my domestic violence case dismissed. He is very knowledgeable and professional, I would recommend him for all your legal matters.”- Jose S.
-
“Dan's patience and understanding allowed me to put trust in someone at a time when that was most difficult for me.”- Dominic
-
“I can’t say enough about Dan and the Lane & Lane firm. Dan carefully listened to all my concerns and goals throughout this process and explained everything that was required to meet my goals. Dan is always available whenever I call him for any questions or concerns. I would recommend Dan and the Lane & Lane firm to anyone looking to get any legal advice in the state of NJ, they are top-notch. Thank you, Lane, & Lane for your outstanding service.”- Satish P.
-
“I wouldn't trust anyone else to help guide me through family law. Not only are they extremely knowledgeable about divorce and other family matters, but they have solid finance and accounting backgrounds as well. Support on the financials is huge. They are true specialists and it shows compared to other firms that cover many areas of law.”- Lawrence W.
-
“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.
-
“I highly recommend hiring Daniel Lane to represent you with your legal matters. He handled my case with the utmost professionalism and sincerity. I found him to be highly attentive and knowledgeable to reach a positive resolution with my legal issue.”- Former Client
-
“Quick, knowledgeable, professional, and very responsive to questions and inquiries. A positive experience from reception-to-attorney. I would request legal services from Lane & Lane again as well as recommend them to others.”- Orlando H.
-
“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
