Hudson County High Net-Worth Divorce Lawyer
Although the same laws apply to all divorces, high net-worth divorces may involve more evidence, complex financial disclosures, and increased financial risk. If you are going through a divorce that involves high-value financial assets, you may benefit from hiring an experienced divorce attorney.
Obtaining advice on financial disclosures, experts, tax consequences, and other legal issues might benefit both your case and your finances. A Hudson County high net-worth divorce lawyer could review your case and discuss any specific concerns you may have.
Discovery Issues in High Net-Worth Cases
New Jersey Revised Statutes §2A:23D-10 requires the “full and candid disclosure” of any information related to a divorce. For high net-worth divorces, this can mean extensive financial disclosures are required.
Failing to provide proper financial disclosures can cause a significant legal problem, as a thorough review of all assets and income is essential in determining a fair outcome for any case. Anyone who is concerned about providing financial disclosures to a spouse, especially if there are business partners involved or if financial disclosures contain confidential information about third parties, may benefit from speaking with a Hudson County high net-worth divorce attorney for legal guidance.
Determining the Need for Additional Experts
Some cases may benefit from the services of an expert. Experts can include appraisers to assist in determining property values and forensic accountants who can help determine if the other party to a divorce is hiding assets.
These types of experts can be expensive, though, and proper procedures must be followed for them to testify in court. Seasoned legal counsel might be able to help determine the need for experts and provide guidance through the proper legal procedures.
Equitable Division in Large Asset Cases
New Jersey state law requires assets to be divided equitably in a divorce, meaning each spouse gets a portion that is considered fair based on several factors listed in N.J.R.S. §2A:34-23.1. Factors like the standard of living during the marriage, the economic circumstances of each party, and tax consequences may have different implications in high net-worth cases.
Divorcing spouses may strongly disagree on what is equitable if one spouse was the primary source of income in the relationship. Spouses may also differ on fairness or financial need when they enjoyed a luxurious lifestyle during the marriage. Legal counsel may be able to assist with achieving a fair division of marital assets.
Handling Unusual Assets
High net-worth divorces sometimes involve unusual pieces of property that spouses may not know how to divide equitably, such as:
- Vacation homes in other states or countries
- Club memberships
- Collectibles and jewelry
Additionally, courts may not be as familiar with valuing and distributing these types of property. A high-value asset divorce lawyer in Hudson County could work to ensure the party they represent receives a fair share of these valuable assets.
Get Advice from a Hudson County High Net-Worth Divorce Attorney
An unfair division of assets in a high asset divorce can cost the losing party a lot of money. Legal counsel may be able to help you make strategic decisions about your case and avoid costly mistakes.
No matter how complex your divorce may be, a Hudson County high net-worth divorce lawyer could fight for the assets you deserve. Call today to review your case.