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High Net Worth Divorce in NJ | What You Need to Know

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High Net Worth Divorce in NJ | What You Need to Know

A divorce can be a complicated process. The division of a couple’s assets can be a difficult matter to address in any case, but things may become even more complex when the couple has a high net worth. In this case, you will need strong legal representation on your side. Read on to learn more about high net worth divorces in New Jersey and how Siragusa Law Firm can provide you with the legal help you need.

What Constitutes a High Net Worth Divorce in New Jersey?

A high net worth divorce occurs when one or both spouses have over $1 million in assets during the divorce case.

What is the Process of a High Net Worth Divorce?

During the divorce, the court will examine the couple’s financial documents in order to gain a clear understanding of both spouses’ financial situations. To do this, professionals may get involved, such as financial analysts, real estate appraisers, certified public accountants, private investigators, and forensic accountants. If either spouse lies about, or misrepresents, their finances, the IRS may get involved and conduct an investigation. As you can see, this can be a rather complex process. Consequently, it is important to have a strong legal team on your side.

What Assets Will I Be Able to Protect?

Siragusa Law Firm has years of experience working with high net worth divorce clients. Some of the assets often protected include:

  • Family businesses
  • Retirement funds
  • 401Ks
  • Debts and liabilities acquired during the marriage
  • Stocks, bonds, and other investments
  • Vacation properties and other family homes/investment properties
  • Collectible items
  • Automobiles
  • Jewelry

What Can I Do to Protect my Assets?

If you and your spouse signed a prenuptial agreement before your marriage, your assets may already be protected. A prenuptial agreement is a document that states how your assets will be shared in the event of a divorce. You may also create a similar document after your marriage is official, this is called a postnuptial agreement. Additionally, if a couple owns a business together, they can draft a shareholder agreement to declare their business terms in the event of a divorce.  It is important to remember that creating a prenuptial, postnuptial, or shareholder agreement, can be extremely beneficial and does not by any means indicate a future divorce. If you would like to create one of these documents, you wish to get a divorce, or you have any questions or concerns, reach out to Siragusa Law Firm today.

Contact our Firm

If you require experienced legal representation for a matter of Social Security Disability, Supplemental Security Income, Personal Injury, Medical Malpractice, Family law or Legal Malpractice, Siragusa Law Firm is here to help. Contact our firm today to schedule a consultation so we can discuss your case.

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