What Is Involved in a High Net Worth Divorce?

dollar bills stack

As high-net individuals, having over $1 million in net liquid assets, you and your spouse will have to opt for a high net worth divorce. With this, you may be concerned with what will happen to the marital assets that you have an emotional attachment to or that you particularly worked hard to earn. Read on to discover what the high net worth divorce process involves and how one of the seasoned Hudson County family law attorneys at Greenberg & Walden, LLC, can work on your behalf.

What assets are involved in my high net worth divorce?

Even with a high net worth divorce, your marital assets will need to undergo the state of New Jersey’s equitable distribution process. Meaning, a judge will conduct asset division in a fair and just manner, but not necessarily evenly. This can get complicated with the number of assets you and your spouse share and the complexity of these assets. Examples of such assets include the following:

  • Expensive personal items:
    • Motor vehicles.
    • Jewelry.
    • Designer items.
    • Artwork.
    • Memorabilia.
    • Antiques.
  • Real estate properties:
    • Family home.
    • Vacation home(s).
    • Income properties.
    • Property holdings.
  • Businesses:
    • Family-owned businesses.
    • Solely-owned businesses.
    • Business investments.
  • Investments:
    • Stocks.
    • Bonds.
    • Debentures.
  • Retirement assets:
    • Retirement accounts.
    • Stock options.
    • Pensions.
    • 401(k)s.
    • Benefits.

Who is involved in my high net worth divorce?

Because of the complexity of your marital assets, there may be many financial experts present during your high net worth divorce proceedings. That is, they are needed to identify any discrepancies, such as if you or your spouse attempt to hide some of your assets. Examples of financial experts include the following:

  • Forensic accountants.
  • Certified public accountants.
  • Financial analysts.
  • Private investigators.

And, if a discrepancy is noticed, then the IRS may be called to conduct an investigation.

How else can I protect my assets?

Instead of attempting to hide your assets, the best thing you can do to protect them is to find your prenuptial agreement. As a reminder, this is a document you may have signed before your marriage that includes clauses as to how and which assets will be divided in the event of a divorce.

If you do not have a prenuptial agreement, you may have a postnuptial agreement that you signed during your marriage that may include similar clauses. All in all, a prenuptial or postnuptial agreement will make the division of assets far less complicated and give you a chance at keeping the assets that you are attached to.

If you require assistance with anything regarding your high net worth divorce, then you must consult with one of our attorneys from our boutique West New York, New Jersey law firm. We are willing and able to assist you every step of the way. Call us today.

Call 201-854-2200 or Message Us for a Free Consultation & Important Answers about Your Legal Options | Hablamos Español


Read Our Latest Blog Posts