Can a Parent With a Restraining Order Still Get Parenting Time in New Jersey?
As a high net worth individual facing divorce, you have a lot on the line, and you need a legal team you can depend on to protect the assets you’ve worked so hard to obtain. At the Law Office of Stephanie Albrecht-Pedrick, LLC, we are dedicated to fighting for clients facing divorce in Atlantic County and throughout New Jersey, and we stand ready to fight for you, too. Contact an Atlantic County high net worth divorce lawyer from our firm today.
Components of a High Net Worth Divorce
High net worth divorces are among the most complex, as they often involve a diversified portfolio of assets, each of which requires extensive evaluation to be accurately valued and equitably distributed. Although each case is unique, some central themes emerge in the vast majority of high net worth divorces. Some of the most common components of high net worth divorces in New Jersey are listed below.
Real Estate and Property Holdings
These may include multiple residences within New Jersey, across the United States, and internationally.
They encompass:
- Your primary residence
- Vacation homes
- Time-shares
- Other properties
Income-generating properties, such as rental units and other investments also fall within this category, as do commercial properties.
Obtaining a comprehensive portrait of all of your real estate holdings is critical before enlisting real estate appraisers who can provide accurate valuations of each property, as well as assessments of the necessary expenses to maintain each.
Notably, properties that were acquired before the marriage by either party may be excluded from the division of assets process, if they are considered “separate” as opposed to “marital” property.
Shared Businesses, Partnerships, or Business Investments
Perhaps you and your spouse entered into business together, or you or your spouse are a business owner. Understanding your rights is essential to reaching a fair and equitable agreement regarding your business interests.
Stocks, Bonds, and Other Investments
Your financial investments are critical to the asset-division process, as they may hold vastly disparate current and future values, but are equally important. In many cases, one spouse is provided deferred compensation or stock options through their position as a senior executive. In these cases, financial analysts become integral to the process of accurately evaluating income, stock vesting over time, and longer-term appreciation of investment assets.
Retirement Accounts, Pensions, 401k’s, and Benefits
These assets are considered shared during marriage and are therefore subject to equitable distribution upon divorce. To ensure that you and your spouse receive the appropriate percentage of these assets, it is crucial to enlist a financial expert who can thoroughly and accurately value the extent of these funds.
Prenuptial Agreements
If you and your spouse entered into a binding contract concerning finances before marriage, it is highly advisable to seek a knowledgeable legal professional who can ensure that your interests are protected and secure during the marriage dissolution process.
Although many of these contracts are legally solvent during divorce, you must have your prenuptial agreement evaluated to ensure that it complies with all statutory criteria mandated under New Jersey state law.
Can Assets Be Hidden During a High Net Worth Divorce?
One of the unique challenges associated with high net worth divorces is that identifying marital assets can sometimes be just as important as valuing and dividing them. While New Jersey law requires both spouses to fully disclose their assets, income, debts, and financial interests during the divorce process, disputes occasionally arise when one spouse believes that certain assets have not been properly disclosed or accounted for.
In some cases, assets may be held through closely held businesses, partnerships, trusts, investment accounts, or other financial arrangements which can make it more difficult to obtain a complete picture of a family’s financial circumstances. As a result, it is often necessary to conduct a thorough review of financial records and documentation to ensure that all marital assets have been identified before the division of assets process can move forward.
Some of the issues which may require additional investigation include:
- Undisclosed bank accounts
- Business interests or ownership stakes
- Investment accounts
- Transfers of assets to third parties
- Unreported income
- Assets held through trusts or other entities
When questions arise regarding the existence, ownership, or value of marital assets, financial experts such as forensic accountants and private investigators may play an important role in helping to identify relevant information and ensure that all assets are properly accounted for during the divorce process. By obtaining a complete understanding of the marital estate, it becomes possible to pursue a fair and equitable division of assets which accurately reflects the true financial circumstances of both parties.
Use of Experts in High Net Worth Divorces
To successfully resolve a high net worth divorce in New Jersey, it is essential to arm yourself with a team of experts who can ensure the identification and accurate valuation of all marital assets.
Our extensive experience with high net worth divorces has allowed us to develop long-standing relationships with highly reputable experts, including:
- Certified public accountants
- Forensic accountants
- Financial analysts
- Real estate and property appraisers
- Private investigators
By collaborating with the leaders in their fields, we can achieve the most desirable settlements for our clients, ensuring a favorable financial arrangement and a secure financial future.
Contact a High Net Worth Divorce Lawyer in Atlantic County, NJ
The bottom line is that if you’re in a high net worth divorce, you have a lot at stake. Our firm is here to protect you. Contact a skilled Atlantic County high net worth divorce lawyer from the
Law Office of Stephanie Albrecht-Pedrick, LLC, for an initial consultation today.
