If you are a high net individual who is facing a divorce, the legal process may become more complex. To learn more about high net worth divorce, continue reading and reach out to our experienced divorce attorney who will walk you through the steps ahead to achieve the best possible outcome for your divorce.
What is a high net worth divorce?
There is no concrete definition for what constitutes a high net worth divorce in New Jersey. However, when an estate is worth over one million dollars in liquid assets or when one spouse owns or has an ownership interest in a business, this likely constitutes a high net worth divorce.
What assets are considered in a high net worth divorce?
A high net worth divorce will consider all of the matters of a regular divorce including child support, alimony, and division of assets. However, other factors may come into play. The following assets may also be considered during a high net worth divorce:
- Widespread investments: bonds, stocks, and investment properties
- Business ownership, including partnerships, limited liability companies/corporations
- Defined benefit pension plans
- Offshore assets
- Real estate holdings
- Involved tax structures and planning
How can I protect my assets?
There are several ways to protect assets when facing a high net worth divorce. If you are someone who is not married, you and your future spouse may draft a prenuptial agreement that will outline what will happen to certain assets in the event of a divorce. If you are already married, you may draft a postnuptial agreement which will essentially serve the same purpose as a prenuptial agreement. The difference is that this document is drafted after marriage. If you and your spouse own a business, you may draft a shareholder agreement that will outline you and your spouse’s interest in the business in the event of a divorce.
If you have any further questions regarding protecting your assets in a divorce, do not hesitate to reach out to our experienced divorce attorney to learn how we can assist you with your divorce matters. Give our firm a call today to discuss our services and how we can help protect your assets to achieve an optimal outcome of your divorce.
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.