Divorcing couples often desire to start fresh after their marriage ends. Unfortunately, ex-spouses with substantial joint and individual property interests may face long, drawn-out property distribution litigation. The longer your marriage and more significant your assets, the more time it typically takes to finalize a divorce in New Jersey. Even ex-spouses with binding prenuptial agreements often challenge the contract’s terms, making the process more complex and long.
If you are getting a divorce and have substantial assets to protect, you should contact one of our skilled attorneys. A Montclair high asset divorce lawyer could help you obtain a fair property settlement and work to protect your financial future.
Divorcing spouses in New Jersey with a substantial net worth often own both liquid assets and unliquidated business interests throughout the tri-state area. Property obtained during the marriage or substantially comingled individual holdings may require equitable distribution by local divorce laws. A legal professional in the area could help former spouses assess the nature and value of property interests commonly discussed during high-value divorces, such as:
When splitting valuable property after a divorce, New Jersey follows a complex equitable distribution system. Former spouses do not necessarily maintain 50/50 rights to each property interest, and not all property qualifies as a marital asset. Economic experts calculate the worth of high-value assets in New Jersey divorce proceedings while dedicated divorce attorneys fight for a fair dispersal of assets and liabilities.
Divorcing couples with over $1,000,000.00 in liquid assets often face unique property allocation challenges. Under New Jersey General Statute 2A:34-23.1, judges must consider numerous factors during high-value property distribution proceedings including potential tax consequences, the standard of living during the marriage, and overall income earning capacities. Many former couples with a high net worth also have inheritances, trusts, and prenuptial agreements governing specific holdings.
High-value divorce litigation may examine if each party came into the marriage with substantial assets, worked together to increase those assets, or only obtained the high-value property during the marriage. Family courts often trace the origin of disputed assets—such as the money used to purchase an initial investment—to make an equitable distribution. An experienced divorce attorney could argue that high-value individual assets transformed into marital holdings before the divorce filing.
High-asset divorce cases often take more time and dedication than traditional divorce proceedings. Lengthy marital dissolution litigation may arise when couples contest the value of critical assets, such as business interests and investment portfolios. Attorneys often retain qualified economic experts to calculate the net worth of lucrative marital assets, including future anticipated gains or losses, when proposing distribution compromises.
New Jersey couples with a high net worth may work with qualified legal mediators to limit legal costs and draft divorce agreements. If parties disagree on the value of certain property or the level of spousal contribution to a business or career, judges typically intervene. However, forced liquidation of profitable endeavors could negatively impact both parties’ financial interests and further complicate high-value divorces.
Different state and international laws may conflict with property distribution orders. Spouses with access to offshore accounts may also fraudulently transfer or hide money in anticipation of divorce. Partners with high assets should seek experienced legal counsel to protect their state and international interests in Montclair divorce proceedings.
Litigation may take time, but well-practiced legal counsel could help you request transitional resources and protect your business interests during lengthy asset distribution proceedings. Our Montclair high-asset divorce lawyers are experienced in fighting for the just distribution of lucrative marital property and could work to retain your high-value assets.
If you are involved in high asset divorce proceedings, let our dedicated legal team explain and advocate for your rights. Call today for a consultation.