Fort Lee High Net-Worth Divorce Lawyer
Disputes regarding the division of marital property during a divorce can take on a heightened sense of importance for couples with a high net worth. From closely held businesses to priceless artwork, the disputes in these divorces are often very different from other divorces.
If you are facing the prospect of a high net-worth divorce, now is the time to speak to an experienced divorce attorney. Your legal counsel will be a vital part of your efforts to keep a fair share of your assets. Let a Fort Lee high net-worth divorce lawyer serve as your legal advocate while you navigate this process.
Common Issues in High Net-Worth Divorce Cases
While every divorce has the potential to result in disputes, there are issues that can be especially problematic for high-income couples. These issues often involve assets that courts may be unfamiliar with. This unfamiliarity could lead a judge to place an inadequate or inaccurate value on the item in question. A Fort Lee high net-worth divorce attorney can ensure every asset is valued appropriately.
One of the most complex issues that can come up in a high net-worth divorce is the control or ownership of a closely held business. The ownership of a business is treated like any other asset and the way a business is divided or transferred could have a dramatic impact on its survival.
Stocks and Deferred Compensation
High earning spouses’ employers often grant them stock options, restricted stock units, and other forms of deferred compensation. If these assets were awarded to a spouse during the marriage, they are subject to division in the divorce process and must be valued and accounted for accordingly.
High Net-Worth Alimony
Alimony disputes can be difficult to resolve in a high net-worth divorce. This is because alimony is designed to provide a former spouse with the standard of living that they had at the time of the marriage. That standard of living can be very expensive in some cases. Determining a high earning spouse’s true income may also provide challenges given that many are awarded performance bonuses that vary year-to-year. Their job perks may also be counted as income in certain cases.
High net-worth divorces typically involve some type of real property. Often, there are multiple pieces of property spread out across the state, country, or world. The laws involved in the transfer of real estate can be complex, and many high-priced properties can be difficult to liquidate. Working with an experienced legal professional can simplify the process of dividing up real estate in these cases.
Challenges Involving Child Support
The assistance of a Fort Lee high net-worth divorce attorney is especially important when it comes to issues of child support. Like most states, New Jersey provides child support guidelines to the general public. These guidelines consider important factors like a couple’s income and the number of children they have together and then offer a proposed amount of child support.
It is important to note that these child support guidelines only apply up to the parties’ combined net income of $187,200. For couples that earn more than that, the Court may make a discretionary award above and beyond what the child support guidelines provide. Such a determination requires extensive knowledge of the child support factors set forth in the New Jersey Statutes and case law.
This potential discretionary award opens the door for both parents to push for an amount they would prefer instead of an amount suggested by law. In these instances, a high net-worth divorce attorney can evaluate every aspect of a high net-worth marriage and determine a fair amount of support to request.
Contact a Fort Lee High Net-worth Divorce Attorney Right Away
If you anticipate a high net-worth divorce is in your future, it is vital that you seek out legal help right away. The right attorney can protect your assets and ensure you are treated fairly in court.
Let a Fort Lee high net-worth divorce lawyer assist you with the dissolution of your marriage. Call our office today to schedule a free consultation.