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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“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
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“I am a bit overdue with this review. Lane and Lane helped me through what seemed at the time to be one of the hardest points in my life. Mr. Steven Lane and his assistant Dana went above and beyond for me throughout my entire divorce from beginning to end. Mr. Lane was always available when I needed him and always made me feel like a priority. He by far exceeded my expectations and for that, I am truly grateful. At all times it was obvious that my and my children's best interest was what was most important to him and that you can not put a price tag on. Mr. Lane made a promise to me at the beginning of the process which was "we go to the dance together and we leave the dance together" meaning at no point would he leave me to fight this battle alone. As silly as it may sound, that has stuck with me since he said it and that was one of the most comforting things anyone has ever said to me. I highly recommend Lane and Lane LLC. They are a family run business that cares about family and that is hard to find nowadays. Thank you again, Mr. Lane.”- Jessica W.
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“Daniel got my domestic violence case dismissed. He is very knowledgeable and professional, I would recommend him for all your legal matters.”- Jose 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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“I would highly recommend relying on Daniel should you need his service.”- Eric
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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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“I would highly recommend Dan for any case related to Family Law.”- Former Client
