High Net-Worth Divorce
There is no such thing as a simple divorce. Even when spouses have decided on an amicable separation, the litany of legal and financial considerations can stack up quickly. For high net-worth couples, the already complex process of dividing marital assets can be truly overwhelming. Issues including complex property division, dividing retirement assets, dividing marital debt, dividing businesses, and more all must be settled and agreed upon during divorce proceedings. Without a qualified and experienced legal team on your side, you may be at risk of losing financial assets to which you are legally entitled.
At Jacobs Berger, LLC, our family law and divorce attorneys see every case we take as an opportunity to assist our clients towards building a better future for themselves and their families. Our firm takes pride in offering a non-combative, stable environment to cultivate communication between you and your spouse throughout the divorce process. Even in highly contentious divorces involving complex asset division, our unique approach to conflict resolution has proven a success for our clients in local New Jersey communities.
Call our office today to schedule a confidential and comprehensive case assessment with a member of our qualified divorce and family law attorneys regarding the unique circumstances of your high net-worth divorce.
High Net-Worth Divorce Lawyers Discuss Property and Business Division
Some of the most commonly held assets that must be divided in high net-worth divorces are owned properties and owned businesses and/or business investments. Properties and businesses can be difficult to valuate within New Jersey equitable distribution regulations due to their fluid value and different levels of investments made by both spouses.
Owned Real Estate and other Property Holdings. Properties eligible for equitable distribution can include your home, business properties, vacation properties, commercial properties, and property investments. In most cases, properties purchased before the marriage are not eligible for division between spouses. However, if the spouse who was not the owner of the property has invested in the property since the marriage, that investment may be considered when determining equitable distribution.
Owned Businesses and Business Investments. If you or your spouse owns a business or is invested in any businesses, that may be taken into account for your divorce. Businesses are particularly difficult to valuate as current and future costs, future income, industry growth, and much more all must be taken into account. For complex business divisions, our Madison high net-worth divorce lawyers may call in an expert witness to testify.
Investments and Retirement Assets Division Attorneys
Another large component of high net-worth divorce is the division of held investments and retirement assets. Similar to complex valuations of owned properties and businesses, investment values can fluctuate moment to moment, making the process of division potentially difficult. Again, our Denville investment and retirement asset division attorneys may choose to call on the services of expert witnesses such as financial analysts, CPAs, forensic accountants, industry experts, and more.
Investment Holdings. As the stock market changes, so do the value of many investments. Financial forecasting is a crucial part of the valuation process of investments. In some cases, a spouse will have future compensation including stock options or deferred benefits packages through an executive program. Both spouses may be entitled to consideration for current and future value of investments.
Retirement Assets. There are specific federal and state regulations which govern how and in what way retirement assets are to be divided amongst divorcing couples. Most cases will involve a Qualified Domestic Relations Order (QDRO) or a Domestic Relations Order (DRO) in order to lawfully and properly separate retirement assets. QDROs and DROs are court orders which allow divorcing parties to avoid heavy tax penalties for withdrawing from retirement accounts.
High Net-Worth Lawyers Find Resolutions for Divorce Clients
While each divorce is unique, our Randolph high net-worth lawyers will typically follow the below steps to successfully resolve your high net-worth division of assets.
- Establish marital vs. separate property
- Valuate assets which are eligible for equitable distribution
- Determine the degree to which each party is entitled to marital assets
- Constructively negotiate mutually beneficial terms for both spouses
For individuals with complex financial situations, it is critical to ensure that your legal rights are being protected throughout the divorce process. Even a slight miscalculation or oversight could lead to leaving large amounts of money on the table. Through accurate and thorough valuations, intimate knowledge of New Jersey equitable distribution laws, and understanding of any pre or post-marital agreements including prenuptial agreements and postnuptial agreements, our legal team has you covered.
Contact our High Net-Worth Divorce Attorneys Today
The high net-worth divorce attorneys of Jacobs Berger understand that divorces involving complex financial divisions require an extra layer of care and attention to detail. We believe in working personally with each of our clients to gain a deeper understanding of their individual needs and concerns, and will work to develop a legal strategy based around your unique situation. This personalized approach to divorce and family law has helped us protect the legal rights of clients across New Jersey.
Contact us online or through our Morristown offices by calling (973) 710-4366 today for a confidential and comprehensive case assessment where we will discuss the details of your high net-worth divorce and how our firm can best serve your individual needs.