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Retaining seasoned legal counsel is always recommended when planning or pursuing a divorce, but experience and expertise can be especially valuable for cases involving high net-worth individuals. When the marital property you share with your spouse includes multiple real estate holdings, valuable personal property, and a complex web of investments and savings accounts, you need an experienced legal representative to help ensure equitable division of those assets.
Accordingly, your first priority before filing for divorce should be to speak with a Livingston high-asset divorce lawyer. Once retained, a qualified divorce attorney at our firm could represent your interests and protect you from unfavorable tax implications and business losses.
In a typical divorce, divisible marital property may only include a joint bank account, some furniture and other household items, and perhaps a vehicle or single home. However, divorces between high net-worth individuals may involve multiple residences, vacation homes, and commercial or rental properties, all of which cannot be easily divided.
One of the most important services that a skilled attorney could provide is a valuation of various physical assets and real properties in Livingston to help ensure that each divorcing party receives an equitable share. In protecting the interests of the person they represent, a dedicated lawyer could also work with a forensic accountant to track down and valuate assets which their ex-spouse either inadvertently or intentionally failed to disclose on their own.
Often, real property only accounts for a fraction of the assets that could factor into a high-asset divorce in New Jersey. As such, it is also crucial to identify financial holdings that may constitute marital property under state law to ensure they are fairly divided.
For example, if a married couple has retirement benefits saved up through instruments like 401k plans, IRAs, pensions, and SEPs/SERPs, any benefits accrued during the marriage are considered joint property under state law and would usually be divided equally in the event of a divorce.
Likewise, various elements of a jointly owned business may be subject to division during a high-asset divorce. If applicable, a local high-asset divorce attorney could help catalogue and equitably distribute business property, inventory, records, client and partner lists, and more.
Besides financial considerations, family-related matters in a high-asset divorce can also add to complications. If one spouse in a Livingston high-value marriage earned significantly more than the other, a judicious attorney could help the lower-earning party pursue spousal support payments to help maintain their standard of living.
In the same vein, a large disparity in net worth between divorcing parents can sometimes make child custody disputes more adversarial and complex. Any parent in a high-asset divorce who is entering custody proceedings should contact a compassionate legal professional to advocate for their desires and protect their child’s best interests.
Going through a divorce can be emotionally and financially difficult, particularly if you and your spouse shared a significant high-value assets. Trying to equitably divide expensive property and financial interests without legal counsel may add to your stress and could lead to significant financial losses as well as personal animosity.
Our Livingston high-asset divorce lawyers could work diligently on your behalf for a smooth and fair divorce process. Call today to learn more about how our legal team could assist you.