Hunterdon County High-Asset Divorce Lawyers

High-asset divorces refer to divorces in which one or both spouses have a net worth exceeding $1 million. They are more complex and time-consuming than standard divorces, particularly if one spouse has significantly higher financial standing. High-asset divorces require an exceptionally knowledgeable divorce lawyer with extensive experience handling vast wealth and a large compilation of high-value assets.

At Tune Law Group, LLC, our Hunterdon County high-asset divorce lawyers provide unparalleled legal guidance and representation.

How Are High-Asset Divorces Different?

High net-worth couples often have considerably more at stake during a divorce than standard divorce issues, such as child custody, support, and alimony. Some additional assets in high net-worth divorces include:

• Expensive art and jewelry
• Luxury vehicles
• Memorabilia or antiques
• Multiple properties
• Retirement assets
• Stock options

Another significant difference in high-asset divorces is the length of time involved and cost. High-asset divorces take considerably longer to settle, often extending beyond a year or more, and increase costs for attorney fees, mediation expenses, expert fees, and more.

What Are Common Challenges in High-Asset Divorces?

High-asset divorces offer numerous unique challenges not necessarily present in other types of divorce proceedings, such as:

• Locating, compiling, and accurately valuating a complete inventory of assets and debts.
• Determining the distribution of ownership and operations responsibility of family-owned or closely held businesses.
• Evaluating child support needs beyond standard day-to-day expenses.
• Calculating and establishing an equitable distribution of marital property, assets, and debts.
• Consulting experts, such as business appraisers, real estate appraisers, financial advisors, or forensic accountants, to locate assets and determine valuations.
• Establishing separate property and inheritance from marital property.
• Ability to maintain the marital standard of living after the divorce and need or eligibility for spousal support.
• Determining the relevancy and validity of prenuptial and postnuptial agreements.
• Developing specific strategies to minimize overall tax implications and liabilities during property division.

How Are Assets Divided in New Jersey?

New Jersey courts follow equitable distribution rules to divide marital property fairly, not necessarily equally, based on factors such as the length of the marriage, each spouse’s age, health, finances and income, marital standard of living, and contributions to the marriage.

Are Experts Necessary in High-Asset Divorces?

High-asset divorces frequently require financial experts, business, art, jewelry appraisers, digital and technology experts, financial advisors, tax consultants, and other investigators and specialists. High-worth individuals often have wealth and assets in various forms and many different national and international locations, all of which must be located and appraised for value during divorce. Financial experts and others have the training and skillset to locate, authenticate, and determine values to build a complete and accurate portfolio of assets and debts and any irregularities, such as hidden assets.

Is Mediation a Good Option in High-Asset Divorces?

Mediation is an excellent method of handling high-asset divorces and is usually preferred by divorcing high-net-worth couples for its privacy benefits. Courtroom divorce proceedings become public records, and most high-net-worth couples prefer to keep the extent of their estate private. Mediation sessions and transcripts of proceedings are confidential. Mediation also allows divorcing spouses to control the proceedings and negotiations and is a faster, less expensive method for divorcing.

Are Prenuptial Agreements Enforceable in New Jersey?

Most high-asset divorces involve some form of prenuptial or postnuptial agreements, particularly if one or both entered the marriage with wealth or valuable assets. Both agreements are enforceable, provided each spouse entered voluntarily, and are fair. However, expect the agreements to be challenged before enforced, which is common practice in high-asset divorces, usually because a couple’s wealth exceeds what the agreements suggest.

How Are Business Interests Distributed in High Asset Divorces?

One potentially challenging aspect of a high-asset divorce is how a family or closely held business should be handled. It involves determining its value, how ownership and interests should be distributed, post-divorce operations and parameters for continued joint operations, and division of assets if the business is sold.

Unfortunately, it is common for one spouse to attempt to hide assets within a business in high-asset divorces, particularly if the other spouse is less involved in the business. Locating hidden assets within businesses can be a complex investigative undertaking.

What Happens if Assets Are Hidden?

Hiding assets is considerably more common during high-asset divorces and easier to accomplish when there are numerous assets in numerous locations. Make no mistake, though, hiding assets is illegal in New Jersey and can result in your lawyer resigning, fines, jail time, or imprisonment, and certainly tarnishes your credibility with the courts. 

Divorce proceedings involve a discovery process in which spouses disclose the complete picture of assets, debts, and income. In high-asset divorces, discovery often includes forensic accountants and other experts trained to locate and valuate assets and debts and spot irregularities. Hidden assets will be discovered during this process, and the responsible spouse often loses far more than they were trying to conceal.

Do I Need a Lawyer for a High-Asset Divorce?

Hiring an experienced lawyer is essential in high-asset divorces to protect what is rightfully yours and minimize potential consequences. Our seasoned Hunterdon County high-asset divorce lawyers can do the following:

• Skillfully locate and value assets;
• Collaborate with experts;
• Prepare and file proper documents;
• Manage complex finances;
• Anticipate problems and provide tailored strategies;
• Assess alimony and child support;
• Develop equitable asset distribution;
• Negotiate settlements;
• Protect your legal rights and best interests;
• And represent you in court.

Our Hunterdon County Divorce Lawyers at Tune Law Group, LLC Will Provide Professional Legal Advice

Get legal advice and compassionate support from our Hunterdon County divorce lawyers at Tune Law Group, LLC. Contact us today for a free consultation. Our experienced lawyers are here to guide you through every step of the process. Let us help you achieve the best possible outcome. Call 908-434-1061 or contact us online. Located in Whitehouse Station, New Jersey, we serve clients in and around Hunterdon County, Monmouth County, Whitehouse, and Tewksbury.