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High Net Worth Divorces in NJ | What to Know
Many couples face the prospect of divorce. A divorce can be an emotional and difficult process no matter what, but the more assets a couple has, the more complicated matters may become. A divorce in which a couple has a large number of assets is referred to as a high net worth divorce. These divorces can be markedly more complex and difficult. Read on to learn more about high net worth divorces in New Jersey and the best ways to protect your assets in the event of a divorce.
What is a High Net Worth Divorce?
A high net worth divorce is determined by a couple’s assets. If one or both spouses have a net worth of $1 million or more, this constitutes a high net worth divorce.
What Assets are Considered?
Those getting a high net worth divorce will need to consider all the matters of a regular divorce, such as alimony, child support, and division of assets. But, many other factors come into play when it comes to assets. Some of the assets that may be considered during the divorce include:
- 401(k)s
- Defined benefit pension plans
- IRAs
- Business ownership, including partnerships, limited liability companies/corporations
- Involved tax structures and planning
- Offshore assets
- Real estate holdings
- Widespread investments, including bonds, stocks, and investment properties
How Can I Protect my Assets?
In some cases, a couple will have signed a prenuptial agreement. This is a document signed before a couple is married, stating how their assets will be allocated in the event of a divorce. Some couples do not create prenuptial agreements, and later decide to create a postnuptial agreement. This is the same document, with the same purpose, but it is created after a couple has been married, instead of before.
When there is so much at stake, the best way to protect your assets in a divorce is to have the right legal representation. You will need a skilled legal team to make sure that you are receiving your fair share and that your rights are protected.
If you have any questions regarding high net worth divorces or creating prenuptial/ postnuptial agreements, contact the Law Office of Sarina Gianna, LLC today.
Contact our experienced Ocean City firm
Matters of divorce and family law require the attention and skill of an experienced attorney who will fight for your future. Not only is your financial well-being at stake, but in a divorce, both you and your children’s emotional well-being are at risk as well. If you need a divorce and family law attorney in Ocean County, New Jersey, please do not hesitate to contact the Law Office of Sarina Gianna, LLC today to schedule a consultation.
