It is important that you understand your options when entering a high net worth divorce. Continue reading and speak with our experienced New Jersey divorce attorneys to learn more.
What is a high net worth divorce?
A high net worth divorce indicates that you and your spouse have assets worth over $1 million. Additionally, if one spouse owns or has an ownership interest in a business, that may also constitute this kind of divorce.
What assets are affected in a high net worth divorce?
In a high net worth divorce, the matters that are considered in a regular divorce will still be acknowledged. For example, division of assets, spousal support, child support, and child custody. However, it is important to note that there are several more factors that are also commonly considered in this type of divorce. They include the following:
- 401(k)
- Stocks
- Bonds
- Real estate and property holdings
- Shared businesses
- Business investments
- Retirement accounts
- Pensions
- Benefits
In some cases, high net worth divorces may also require forensic accountants, certified public accountants, financial analysts, private investigators, and more to be involved in the divorce process in the event that there are discrepancies. It is critical to have an experienced family law attorney at your side throughout your high net worth divorce process.
How can I protect my assets?
There are a few different options to consider when it comes to protecting your assets in a high net worth divorce. One of the most common options is creating a prenuptial agreement. This is a legal document that must be drafted before your marriage with your spouse to protect your family’s inheritance and your assets. If you are already married, you may want to explore your option for drafting a postnuptial agreement that will serve an almost identical purpose to protect specific assets in the event of a divorce. Lastly, the third legal document you might consider drafting to protect your assets is through a shareholder agreement. A shareholder agreement is a document that details what will happen to you and your spouse’s business in the event that you divorce.
If you have further questions related to this kind of divorce, do not hesitate to reach out to our experienced divorce attorneys at The Law Offices of George J. Mardinly today to discuss your options with our legal team. Our firm can walk you through every step of the claims process ahead. Give our firm a call today to schedule your initial consultation.
Contact our experienced Red Bank firm
Our firm proudly represents clients in New Jersey who are faced with matters of family law, criminal defense, business law, real estate law, or estate planning. If you require strong and dedicated representation for any of your legal matters, please do not hesitate to contact The Law Offices of George J. Mardinly to schedule a consultation.