Handling Large Estates and Vast Wealth

Hackensack High-Asset Divorce Lawyers

Divorce can be an emotional, financial, and legally complicated experience, often made worse when involving high net-worth couples who have a lot at stake. High-asset divorces typically encompass significant wealth, including business interests, multiple real estate investments, and valuable assets, often leading to contentious disputes. If you have a high net worth and are considering divorce, you need an experienced Hackensack high-asset divorce lawyer at Torchin Martel Orr LLC. Our legal team handles divorces involving large estates and vast wealth. We will provide the legal guidance and support you need to navigate the complexities of high-asset divorces. 

What Is a High-Asset Divorce? 

High-asset divorces involve couples with vast wealth and assets ranging in the millions of dollars. They differ significantly from a standard divorce due to the complexity and scale of substantial and intricate assets such as business holdings, extensive real estate, diverse investments, and valuable marital and personal property. The stakes are higher in this type of divorce and are often contentious, particularly if one spouse has a higher financial standing or more to lose. 

High-asset divorces require forensic accountants, appraisers, and other experts to locate assets, prepare financial disclosures, and value assets. Often, complex issues related to alimony, child support, tax implications, and prenuptial or postnuptial agreement enforcement often require retaining more than one attorney to develop agreement negotiation strategies. As such, high-asset divorces are typically more expensive and time-consuming than standard divorces.

High-Asset Marital Property

In high-asset divorces, there tends to be a larger collection of property with much higher values. Types of marital property not typically seen in a standard divorce include:  

• Business investments and closely held enterprises
• International bank accounts, business interests, and real estate
• Fine artwork and jewelry
• High-end and rare cars
• High-value investment portfolios 
• High-value primary and seasonal residences
• Intellectual property
• Multi-corporation stock options and investments
• Trust funds
• Yachts, sailboats, and other vehicles

How Is Marital Property Distributed in High-Net-Worth Divorces?

Marital property includes all assets and debts acquired during the marriage and jointly enjoyed. During divorce, New Jersey courts follow equitable distribution guidelines to divide marital property, which means assets are divided fairly, not necessarily equally. Martial property can include bank accounts, businesses, investments, mortgage and other loans, real estate, retirement accounts and pensions, cars and other vehicles, and family-owned businesses. 

Not all property owned or acquired during the divorce is considered marital. Property owned by either spouse prior to the marriage or solely acquired during the marriage is generally considered separate and not divisible. If separate property is applied to acquire marital property, the court may then consider the asset marital property and divisible. 

How Can I Protect My Assets?

Several strategies can help protect your assets during divorce, such as prenuptial or postnuptial agreements detailing clear distribution guidelines and establishing trusts, limited liability companies (LLCs), or other legal entities to manage and protect assets from division. Working with an experienced Hackensack high-asset divorce lawyer is essential to protect your assets, ensure division is handled correctly, and safeguard your financial future. Do not attempt to hide assets to downplay net worth, retain property, or avoid paying high support payments. Hiding assets is common in high-asset divorces but also illegal. 

What Are the Penalties for Hiding Assets in New Jersey?

Hiding assets is easier in high-asset divorces because numerous assets, including domestic and international businesses, offshore bank accounts, and various types of real estate, are often distributed between multiple locations. Locating and cataloging assets is typically one of the longest processes during high-asset divorces. 

Hiding assets is futile and risky. Forensic accountants will find hidden assets. Hiding assets can lead to severe penalties in New Jersey. Courts can impose steep fines, require you to pay your spouse’s legal fees, adjust distribution, and award your spouse a larger share of the assets to compensate for your actions. 

What Issues Are Contentious in High-Asset Divorces?

Couples in high-asset divorces have a lot at stake, and concerns over financial standing, children, and lifestyle maintenance tend to make most high-asset divorces contentious. Typical contentious disputes include alimony, child custody and support, asset values and division, taxes, hidden assets, and the validity of prenuptial or postnuptial agreements.

How Will a Hackensack High-Asset Divorce Lawyer at Torchin Martel Orr LLC Help Me?

With such high stakes, working with a knowledgeable and experienced divorce lawyer is vital. Your lawyer will handle required court documents, hire and consult with investigators, forensic accountants, appraisers, and valuation experts, negotiate a settlement agreement, and represent you in court if the divorce moves into trial. Hiring a skilled Hackensack high-asset divorce lawyer at Torchin Martel Orr LLC will alleviate stress and anxiety, provide peace of mind, and ensure the best possible outcome.