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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“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. They also have expertise where tax issues arise and personally care about their clients.”- Joan G.
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“Eric took the time to listen to my concerns and helped me to make informed decisions based on my situation.”- ZP
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“Not only are they available during all hours of the day, but they also have extensive knowledge of the law.”- Charles W.
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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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“He guided me through the process and settled my nerves when I was apprehensive. He has my best interests and made sure I was protected. He really knew his business and I am so happy that I selected him to represent me. He made himself available to me almos”- Myria T.
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“Mr. Lane was recommended to me by another one of his clients. He helped me to solve a problem I thought would never be solved. I will definitely reach out to Mr. Lane to represent my family in any other matters.”- Gabriela S.
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“Dan was very understanding and helpful through the divorce process. He respected my suggestions and always gave very good advice throughout the whole process. He worked well with opposing counsel and just helped the whole process move smoothly. This was not a process I wanted, yet I was able to count on him for sound and very professional advice. There was never any pressure for me to do anything I did not want to do. I am thankful I chose Lane and Lane.”- Tom H.
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“Divorce is a traumatic event, no matter how much both parties involved try to work through the process. Lane & Lane were a great sounding board for my concerns and needs. They listened and protected me from opposing counsel's comments and demands. I highly recommend Lane and Lane to represent you if this personal need arises. Pete Wright”- Pete W.
