High Asset Divorce in Bergen County New Jersey

High Asset Divorce in Bergen County New Jersey High Asset Divorce in Bergen County New Jersey

If you’re getting a high asset divorce in Bergen County New Jersey, you should consult an experienced divorce lawyer promptly. This kind of divorce is more complex, so it’s important to have someone knowledgeable and experienced on your side. Here are a few ways a high asset divorce differs from a traditional divorce.

Complex Asset Division Needs

When you and your spouse have a high-net worth, you likely have a variety of complex assets, including real estate, retirement funds, businesses and other investments. It can be more difficult to divide these fairly. 

Tax Consequences

A high asset divorce in Bergen County New Jersey typically includes property transfers, asset liquidation and alimony, which can create new tax challenges. Sometimes, one or both parties may use these assets to pay for their living expenses during the divorce, which can result in a high tax bill.

Longer Divorce Process

Since a high-net worth married couple typically has significantly more assets than the average couple, there may be more disagreements during the divorce. Unfortunately, this can extend the negotiation process, which may lead to more stress.

Publicity

When you’re going through a high asset divorce, the proceedings may be more public than a typical divorce case. A divorce is a very personal matter, and it can be embarrassing for everyone to know your private business.

Spousal Maintenance

Spousal maintenance generally involves more complexities in a high asset divorce. Individuals in high-net worth marriages may be more likely to hide assets from their partner, which can complicate matters.

Prenuptial Agreements

When one partner earns significantly more money than the other partner, they likely have a prenuptial agreement. Although this document is created to make the divorce process easier, it does not always work out that way. The partner who earns less may try to challenge the agreement in court.

Consulting a Lawyer

If you are going through a divorce that involves substantial assets, it is in your best interest to hire a divorce lawyer who has many years of experience with high-net worth divorces. High asset divorces include complex discovery and investigation, so they require extensive expertise. A skilled lawyer will guide you through the entire process and improve your chances of obtaining a fair settlement.

If you’re getting a high asset divorce in Bergen County New Jersey, you should schedule a consultation with an experienced divorce lawyer today at Lesnevich, Marzano-Lesnevich, O’Cathain & O’Cathain, LLC to get your case going in the right direction.

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