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Why High Asset Divorces Must Be Handled Differently

On Behalf of | Aug 16, 2021 | Family Law, Firm News

Why High Asset Divorces Must Be Handled Differently

Some divorces are simple. The couple shared minimal assets and there were no children present in the marriage. Other cases, however, can be more difficult to navigate. One of these is a high asset divorce. Read on to learn why certain types of divorce, including high assets ones, need to be treated differently.

What is a High Asset Divorce?

A high asset divorce refers to a married couple who has more assets to divide and decides to get divorced. This includes couples with a higher net salary or more financial assets. It may include couples who share businesses together, have multiple properties, or those who have a lot of assets or investments in a savings account.

What Are the Risks of a High Asset Divorce?

In any divorce, there is always the risk of one person making out better than the other. However, when there is a high degree of assets present, this is even more likely. Additionally, depending on how long the divorce proceedings take, it’s possible for the divorce to leave both spouses in a difficult financial position.

How Can a Lawyer Help With a High Asset Divorce?

A lawyer can be a valuable asset as you and your spouse navigate a high asset divorce. Here are a few reasons why:

  • Help you get a better understanding of finances: It isn’t always easy to get a full and complete understanding of all finances shared. Tracking down income statements and tax documents can be timely and inconvenient. An experienced family law lawyer can help you get a clear understanding of your assets.
  • Establish ownership of assets: Some assets may be clearly co-owned, but others may have been brought into the marriage. A lawyer can help you evaluate which assets should be divided, and which should go to their rightful owner.
  • Reduces the chances of a contested divorce: A lawyer who understands New Jersey’s laws and the divorce proceedings can reduce the chances that you have a contested divorce. A contested divorce can not only be inconvenient but can also be costly to everyone.
  • Assist with unique assets: Some assets may be easy to divide. Others may be more unique and require specialized knowledge. A lawyer can help you with these things like preparing for out-of-state or international assets or calculating spousal payments.

These are just a few of the ways in which a divorce lawyer can be beneficial to your case. Even if your spouse has already chosen their representation, it is important that you have someone on your side. You want a lawyer who is not only familiar with New Jersey’s divorce laws but that also protects your best interests.

Don’t Wait to Get the Relief You Deserve

By the time a couple has decided to divorce, they have usually both been unhappy for a long period of time. Instead of dragging on the divorce proceedings by fighting over assets, consider working with a lawyer. This can ensure that everyone receives their fair share and that each and every asset is considered.

Contact a Mount Laurel Family Law Attorney for a Consultation About Your High Asset Divorce in New Jersey Today

If you are thinking about filing for divorce, or if you have already started the divorce process and are dealing with another matter such as child custody, child support, or division of assets, you need to speak with a qualified attorney. The New Jersey family law attorneys at The Law Office of Stephen R. Piper, LLC represents clients throughout the state, including Mount Laurel, Pemberton, Willingboro, and Medford. We understand how challenging this time can be for you, which is why we will fight hard to protect your interests, and the interests of your loved ones, throughout the legal process. Call us at 856-333-3586 or fill out our confidential contact form to schedule a consultation.

The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.