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What You Need to Know About High Net Worth Divorces in New Jersey

What You Need to Know About High Net Worth Divorces in New Jersey

Divorce can be very complicated, both emotionally, financially, and legally. However, if you or your spouse is a high net worth individual, meaning one of you has assets worth over $1 million, and you are now looking to get divorced, it can become far more complicated. High net worth spouses have a lot at stake, more than the average couple, which is why if you are someone who finds yourself in this situation, you must continue reading and speak with our knowledgeable New Jersey divorce attorney to learn more about high net worth divorces and how our firm can help you if you are in the midst of one, or are going to be. Here are some of the questions you may have about the legal process ahead:

What assets are at stake in high net worth divorces?

Of course, high net worth divorces are no different than other divorces when it comes to various facets of the divorce, such as who will pay child support, who will receive child custody, make alimony payments, etc. However, there are several factors that frequently differ and further complicate high net worth divorces. They are as follows:

  • Real estate and property holdings: If you a couple who enjoyed multiple properties, who had both a primary residence, as well as vacation homes and other properties, these may all be up for equitable distribution in a divorce.
  • If you own a business, or you and your spouse jointly own a business, your business may be at stake. This is why many business owners draft shareholder agreements.
  • Your retirement accounts, pensions, and other benefits are also generally up for equitable distribution in the event of a divorce.

How can I protect what is mine in a divorce?

Fortunately, there are several things you can do to protect your assets from a divorce, even if you and your spouse have a high net worth. For example, as mentioned above, if you and your spouse own a business together, you can draft a shareholder agreement to dictate how your business shall be handled, should you divorce. You may also draft a prenuptial agreement if you are not yet married, though if you are already married, you may draft a postnuptial agreement, which essentially functions the same.

Contact our experienced New Jersey 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.

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