The divorce process can be complicated because divorce often impacts many different areas of a spouse’s life. Often, the financial side of the process is particularly stressful because there is a wide range of considerations that the couple must keep in mind. Therefore, it’s no surprise that high-net-worth divorces come with their own unique set of problems. This is why many high-net-worth couples worry about what they should look for when choosing a divorce lawyer. No need to panic because our law firm is here to help! Read this blog to learn about how one of our High Net Worth Divorce Attorneys in Bergen County, NJ can provide high-quality legal counseling.
WHAT IS CONSIDERED A HIGH-NET-WORTH DIVORCE?
Because wealth is often subjective, there is no concrete legal definition of a high-net-worth divorce. However, most New Jersey courts agree that high-net-worth divorces are those that involve estates worth at least $1 million. As you can imagine, this amount of marital assets can be difficult to handle without help from a professional.
HOW ARE MARITAL ASSETS DIVIDED IN A NEW JERSEY DIVORCE?
New Jersey is an equitable distribution state when it comes to divorce. This means that the courts divide marital assets reasonably and fairly (but not necessarily 50/50) between divorcing spouses. The judge takes a wide range of factors into consideration when deciding how to split property, including the length of the marriage and each spouse’s individual income. However, spouses have the option of deciding how their marital assets will be handled themselves. Many spouses hire separate lawyers for legal advice or hire a mediator to guide the couple to a reasonable agreement.
WHAT SHOULD I LOOK FOR IN A LAWYER FOR MY HIGH-NET-WORTH DIVORCE?
Because high-net-worth divorces can quickly become complex, it’s important to find a qualified lawyer who can guide you through the legal proceedings. The most important quality you should look for in a lawyer is experience. A highly experienced attorney can ensure that you avoid the common financial mistakes that spouses make during the proceedings. It’s essential to have a professional on your side who can keep you informed about all the legal matters that you need to consider. You should also look for a lawyer who is dedicated to serving you. Every divorce is different, so look for a lawyer who provides individualized legal counseling.
Are you considering filing for a high-net-worth divorce in northern New Jersey? Are you seeking a compassionate divorce attorney who has your best interests in mind? Look no further because Townsend, Tomaio & Newmark is on your side! Contact our effective team today for an initial consultation.