At Csépes Law Offices, we have extensive experience with high-asset divorces and have written about them previously. One of the points we made was that high-asset divorces follow the same process as a “regular” divorce. In other words, no law states that if your assets are worth a certain amount, you must file in a court designated to handle these cases. Some firms (like ours) advertise they have experience with high-asset divorces. Why would you need one of these attorneys if they follow the same process as other divorces?
Although the process is similar, certain assets associated with high-net-worth couples can complicate your divorce process. Even if you and your spouse are communicating and are divorcing amicably, both of you should have competent legal counsel during a high-net-worth divorce. When you have assets such as investment portfolios, houses in multiple states (or countries), businesses, and trusts, you need a team of qualified professionals to help you with the financial consequences of your decisions.
Although you and your spouse may be amicable, splitting assets can be complex. For instance, what are the tax consequences and implications of dividing retirement accounts and selling businesses?
You Need (and Deserve) a Team
New Jersey is an equitable distribution state. One of the most significant misconceptions about equitable distribution is that it means equal or a 50/50 split. In reality, it means something closer to “fair.” Before you can arrive at that point, you have to possess a firm understanding of which assets you have and how much they are worth.
For instance, family-owned businesses and investments are some of the most challenging assets to divide. Though there are multiple ways to approach a family-owned business during divorce, your attorney will know professionals who can determine its value. Additionally, you or your spouse may receive stocks or partial ownership in an organization as compensation. Though your attorney will oversee the process, she will likely have professionals determine how much the stocks are worth, whether shared marital money purchased the investments, and how they will be divided if the stocks have not matured when the divorce is finalized.
Schedule a Consultation with an Attorney who Understands High-Asset Divorces
Csépes Law Offices has the resources and experience to guide you through the complications of a high-net-worth divorce. We take the time to understand the specifics of your situation. Whether you and your spouse co-own a business, have multiple homes, or have several other investments, we assist you with property division, child support, and alimony. Contact us today to schedule your consultation.
Csépes Law Offices
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