Here is What You Need to Know About High Net Worth Divorce in NJ

High net individuals have a lot at stake when facing the divorce process, and if you or your spouse are high net individuals who are looking to get divorced, you must continue reading and speak with our Red Bank divorce attorneys today to learn more about high net worth divorce and how our firm can help you through every step of the process ahead. Here are some of the questions you may have:

What qualifies as a high net worth divorce?

If you or your spouse own at least $1 million in assets, you will qualify for a high net worth divorce. While the process is largely the same, you should understand that since you have so many assets on the line, you must not proceed without retaining the services of an experienced New Jersey divorce attorney who can fight for what is rightfully yours.

What assets may come into question in a high net worth divorce?

As previously mentioned, in many ways the high net worth divorce process is the same as a standard divorce, as certain standard divorce issues, such as child custody, child support, alimony, and more will all come into play. However, high net worth divorces often become more complicated during the equitable distribution process, because oftentimes, high net individuals will have certain complex assets, such as stock options, investments, large amounts of cryptocurrency, or even businesses under their name. For this very reason, you need an attorney who has experience handling these divorces. Oftentimes, third parties will also get involved, such as forensic accountants, and if they detect any discrepancies or discover that any assets have gone undisclosed, there is a very good chance that the IRS will launch an investigation. Our firm can help ensure you fully disclose all assets to avoid such troubles.

How can I protect my assets from a divorce?

Fortunately, there are several things high net individuals can do to protect their assets from a divorce. For example, if you and your spouse jointly own a business, you may draft a shareholder agreement that can clearly outline what will happen with our business, should you ever get divorced. Additionally, if you are not yet married, you and your future spouse may draft a prenuptial agreement to outline what will happen with certain assets, should you ever get a divorce. Finally, if you are already married, though you may not draft a prenuptial agreement, you may draft a postnuptial agreement, which serves the same purpose, though it is drafted after marriage. For any additional questions, give our legal team a call today.

CONTACT OUR EXPERIENCED NEW JERSEY FIRM

If you require strong legal representation for matters of divorce and family law in New Jersey, contact The Law Offices of Paone, Zaleski & Murphy to schedule a consultation with one of our experienced attorneys today.