When the Stakes Are High
Few elements complicate a divorce more than finances. This adage is particularly the case when the financial stakes are high. High net-worth divorces introduce special considerations for both the divorcing spouses and their attorneys. A high net-worth divorce must be executed very carefully to ensure adequate asset protection and preservation.
If you have significant marital assets, you might be worried about how you can protect those assets in your divorce. Working with a skilled New Jersey matrimonial attorney can help ensure your assets are well protected, but here are some additional factors you might need to consider.
More assets could make for a more complex property division. In New Jersey, marital assets must be distributed equitably between the spouses. Because the division does not need to be equal, you have some flexibility when it comes to dividing your property.
You might hold such assets as:
- Real estate
- Business ventures
- Investment portfolios
- Retirement accounts and pensions
- Cash accounts
All your marital assets will need to be divided. High net-worth divorces can also present problems when it comes to calculating child support and alimony. The courts do not define a maximum amount of child support for high-income individuals, and the standard child support guidelines might not apply to you. In these cases, the court will consider many factors such as the needs of the child, the standard of living and economic circumstances of each spouse, the earning ability of each spouse, and the age and health of each parent, just to name a few.
Similarly, determining alimony in high net-worth divorces requires considering both the financial standing of each spouse as well as the lifestyle they became accustomed to during the marriage. With so many factors influencing things like child support and alimony, it is crucial you work closely with a skilled attorney on these parts of your divorce to ensure the orders are appropriate.
If you have significant assets, you should speak with an experienced New Jersey matrimonial attorney about your case. High net-worth divorces tend to be complex, but with the guidance of an attorney you can minimize your risk and stress while protecting and preserving your wealth.
Do you have questions about high net-worth divorce? If so, Williams Law Group, LLC can help. Our skilled attorneys can help you protect your assets and your interests in your divorce. Located in Union, New Jersey, Williams Law Group, LLC provides compassionate and dedicated legal services to Union, Bergen, Essex, Hudson, Morris, Monmouth, and Middlesex counties, and the surrounding areas. Our knowledgeable attorneys handle divorce and family law, child custody, and child abuse/neglect cases. Call our office at (908) 810-1083, email us at firstname.lastname@example.org, or contact us through our confidential online form to schedule a consultation and ultimately get you connected with an experienced New Jersey divorce and child custody attorney.