There are few things worse than getting a divorce. Not only is divorce an emotional process, but it’s also a legal and financial ordeal. Divorces can be made even more complicated when they involve high net couples, as they have a lot at stake and marital property is typically subject to equitable distribution. If you’re about to get a high net worth divorce, you should continue reading and reach out to our experienced Bergen County divorce attorney to learn more about these divorces and how our legal team can help you through the process. Here are some of the questions you may have:
What makes a high net worth divorce different from other divorces in New Jersey?
The first thing you should understand is that if you or your spouse own at least $1 million in assets and you are getting divorced, you are in what is known as a high net worth divorce. That said, high net individuals often have a lot more at stake than others, though standard divorce issues, such as alimony, child custody, and child support are still part of the equation. Just some of the additional assets that often come into play in high net worth divorces include the following:
- Stock options
- Luxury vehicles
- Memorabilia or antiques
- Expensive jewelry
- Retirement assets
- Multiple properties
- Jointly held bank accounts
Do I need a lawyer to go through my divorce?
To start, the best thing you can do to protect your assets from a high net worth divorce is to create a prenuptial or postnuptial agreement with your spouse or future spouse. In prenuptial (written and executed before marriage) and postnuptial (written and executed during marriage) agreements, couples can outline exactly what they want to happen with certain assets, should they ever get divorced. They can also predetermine various additional divorce-related terms, such as alimony. That said, if you don’t have either of these agreements in place, it is paramount that you retain the services of a competent divorce lawyer who can help fight for what’s rightfully yours. If your divorce enters litigation and you don’t have an agreement in place, courts will equitably distribute your marital assets between you and your spouse. It’s worth noting that “equitable” does not mean “equal.” In fact, it’s not uncommon for marital assets to be divided rather lopsidedly. Don’t make the mistake of hiring just any attorney to represent you at this pivotal moment; hire McNerney & McAuliffe to fight for the best possible outcome on your behalf.
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If you require the legal assistance of an attorney to help you through a criminal law matter, personal injury matter, family law matter, or otherwise, contact McNerney & McAuliffe today.