Union County High Net-Worth Divorce Lawyer
High asset divorces usually involve large sums of money, complex evidence, and sometimes lengthy court hearings. These cases may also lead to intense conflicts between spouses due to the considerable amounts of money or property involved.
A family law attorney could help protect your property rights in a high asset divorce. The financial consequences of ending a marriage can be significant but a Union County high net-worth divorce lawyer could fight for you.
How Does the Law Divide Property in a High Asset Divorce?
As with any other divorce, the court distributes property in a high asset case according to equitable distribution principles such as those outlined in New Jersey Revised Statute §2A:34-23.1. Equitable distribution means that the court will award the property to each party fairly, though often not evenly.
Some equitable-distribution factors may need extra consideration in high net-worth cases including:
- Each party’s contributions of property or income to the marriage
- The standard of living established during the marriage
- Each party’s economic circumstances at the time of the divorce
- Each spouse’s contribution and detraction to marital assets
- Tax consequences of the property distribution
When only one spouse brought significant assets into the marriage, a case may become even more complicated. A high asset divorce attorney could help a divorcing spouse understand these laws and fight for a fair property division.
Type of Assets the Court Will Distribute
The court may distribute all marital assets as part of a divorce case. Any assets determined as separate property of one spouse such as premarital assets or funds from an inheritance are not to be split.
High asset cases sometimes involve property that is difficult to value or cannot be readily split. Expert witnesses such as appraisers and accountants may be necessary to prove the value of assets. Dividing retirement accounts, business interests, or foreign properties may implicate other areas of the law.
Understanding the law and gathering strong evidence could make a difference in the outcome of a divorce case. An experienced high-value divorce lawyer in Union County could build arguments and strategies for a winning case.
Special Issues in High Asset Divorce Matters
Several issues may be more likely to occur in high asset cases than in other divorces such as:
- Prenuptial agreements
- Large amounts of separate property
- Dissipation of marital assets
- Undisclosed or hidden assets
A Union County high net-worth divorce lawyer may be able to keep these kinds of issues from unfairly impacting someone involved in a divorce. For example, if a person believes that their spouse has failed to disclose a secret bank account, seasoned legal counsel could carefully review financial records or subpoena essential documents.
High asset divorces often grow highly contentious, especially if one spouse accuses the other of dissipating or hiding assets. Spouses facing such a case could benefit from hiring a lawyer to stand up for their rights in court.
A Union County High Asset Divorce Attorney Could Offer Protection
Protecting your property during a divorce is important, but the wrong action could adversely impact your case. A Union County high asset divorce lawyer could offer knowledgeable advice and fight to protect your property rights in court. Let a lawyer help you take the right steps to secure your property rights. Call now to start preparing your case today.