Divorces are challenging, but when spouses have a net worth of $1 million or more, the stakes become significantly higher. Large estates, high-value assets, and complex business interests require experienced legal counsel to navigate the intricate financial and legal issues unique to high-asset divorces.
At Marotta Blazini Dunleavy LLC, our Bergen County high-asset divorce lawyers understand these complexities and are committed to providing the strategic legal guidance necessary to protect your assets and secure your financial future.
High-asset divorces stand apart primarily due to the substantial net worth and the volume of valuable assets involved. Some key distinctions include:
While all divorces involve assets like bank accounts and vehicles, high-asset divorces feature a wider variety of substantial holdings, including:
New Jersey follows the principle of equitable distribution, which means marital property is divided fairly, though not necessarily equally. Marital property typically includes assets and debts acquired during the marriage, such as:
Separate property generally includes assets owned prior to marriage or received as gifts or inheritance. However, if separate property is commingled with marital assets—for example, using inheritance funds to purchase a jointly owned home—the court may classify it as marital property subject to division.
Family-owned businesses frequently complicate high-asset divorces and are typically considered marital property, even if only one spouse is the owner.
Alimony, or spousal support, is often a significant issue in high-net-worth divorces, especially when one spouse earns substantially more than the other. The goal is to maintain a standard of living reasonably comparable to that enjoyed during the marriage.
New Jersey courts consider several factors when awarding alimony, including the length of the marriage, each spouse’s financial needs and earning capacity, and the ability to pay.
Common types of alimony in New Jersey include:
Alimony obligations may end due to significant changes in financial circumstances, retirement, remarriage, or cohabitation with a new partner.
Prenuptial and postnuptial agreements are common in high-asset marriages to clarify asset ownership and protect separate property. In New Jersey, the Uniform Premarital Agreement Act (UPAA) requires such agreements to be:
A prenuptial agreement drafted without an attorney’s involvement may be challenged and potentially invalidated if one party was unaware of their rights or the agreement’s consequences. Courts scrutinize these agreements carefully to ensure fairness.
High-asset divorces involve complex financial and legal issues that require skilled advocacy. An experienced Bergen County high-asset divorce lawyer can:
Choosing knowledgeable legal representation is essential to safeguard your rights and financial security throughout the divorce process.
If you are considering divorce and have substantial assets, you need a law firm with extensive experience managing complex estates and high-net-worth cases. Our Bergen County high-asset divorce lawyers at Marotta Blazini Dunleavy LLC are here to help. Call 201-368-7713 or complete our online form to schedule a free consultation. Located in Maywood, New Jersey, we proudly serve clients throughout Bergen County and the surrounding areas.
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