New Jersey High Net Worth Divorce Lawyers
Representing NJ high net worth clients through complex divorces
Divorce is a complicated and emotional topic. An increase in money, debt, and assets can make an already complicated matter overwhelming. A high net worth divorce is when a couple dissolves a marriage with combined monies and assets valued more than $1 million. If you are facing a divorce and are a high net worth individual, you have a lot to consider. Having the right representation with experience counseling high profile clients through these divorces is highly recommended. Though many attorneys can handle a simple divorce case, a high net worth divorce deserves a high-caliber attorney. The Salvo Law Firm, P.C. has the knowledge and skill needed to protect the interests of our high net worth clients. If you face a high net worth divorce, you should contact our firm.
Equitable distribution and high net worth divorce
Similar to other divorce cases, high net worth individuals will have to address the same issues. In high net worth divorces, the difference lies in the amount and complexity of assets and debt. Just like a regular divorce, high net worth individuals feel the same entitlement to a certain split of assets and a certain amount of alimony. When these issues are contested, a court will often decide on the matter. New Jersey is an equitable distribution state which means that assets and debt are split in a fair and just manner. This doesn’t always mean an even split. In high net worth divorces, these individuals may have more complicated matters at hand, including:
- Multiple properties
- Professional practices
- Successful businesses
- High profile possessions
Net worth statements
Similar to other divorces, high net worth individuals will have to share financial information in order for the court to decide on contested issues and judge the case according to how the marriage functions financially. When high net worth individuals have to share financial information, it can get complicated. If there are discrepancies, a court may order a forensic accountant to sift through the individuals finances. In some cases, the other party has already hired their own financial expert. The risk lies in the fact that courts and judges are mandated reporters to the Internal Revenue Service. If anything is out of place, they are obligated to offer this information to the IRS.
How to protect yourself
High net worth individuals should consider drafting a prenuptial agreement. Though a new couple does not want to think about divorce, it is smart to consider unforeseen circumstances. Even after a marriage has commenced, a post-nuptial agreement can protect you from financial inquiries, government probes, and other unfortunate side effects of high net worth divorces. If you want to protect yourself, you should consider having a lawyer draft these legally binding documents.
Call an attorney with high-profile divorce experience
The Salvo Law Firm, P.C. has many years of experience with complex, high net worth divorces. Complex divorces are no challenge for our skilled attorneys. Allow our firm to assess your case, guide you through your options, and passionately advocate for your interests. If you are in need of an attorney to draft a prenuptial or post-nuptial agreement, our firm has drafted many of these documents over the course of our practice. If you need quality legal services related to your high-profile case, contact The Salvo Law Firm, P.C. today.