Divorce is a stressful process. However, knowing what to expect can help make you feel more prepared and can make the process much easier. If you are going through a high net worth divorce, read on to learn more about the road ahead.
What is a high net worth divorce?
A high net worth divorce occurs when the couple getting divorced has a combined net worth of $1 million or more. It can be different from other divorces because it may involve more complex assets.
What assets might be involved?
Some of the more difficult assets to divide may include:
- Real estate and property holdings
- Shared businesses
- Business investments
- Retirement accounts
What parties may get involved?
In order to help valuate these assets, forensic accountants, certified public accountants, financial analysts, private investigators, and more may become involved in the divorce process. If any discrepancies are found, an IRS investigation may be launched.
How can I protect my assets?
You are likely wondering how you can protect your assets during your divorce. When it comes to a high net worth divorce, it is important to work with an attorney who has experience with these types of divorces as they know what to look out for and what the process entails.
Another important way to protect your assets is with a legal agreement. This may involve a prenuptial or postnuptial agreement. A prenuptial agreement is a legal document that declares how a couple’s assets should be divided in the event that their marriage comes to an end. This will allow you to keep certain assets separate, meaning they will not be subject to equitable distribution during a divorce. A postnuptial agreement is the same type of document. The main difference is that it is created during the marriage, rather than before the marriage. It is necessary to ensure that your agreement is valid and meets all the necessary New Jersey requirements. An invalid prenuptial or postnuptial agreement can lead to serious trouble and lost assets. An experienced attorney can help you create these documents.
If you are going through a high net worth divorce, our firm will advocate for you. We will work to protect your assets and walk you through the process every step of the way. Reach out today to discuss your case with a skilled and dedicated divorce attorney.
Contact Our New Jersey Firm
If you are getting a divorce or have any other questions regarding divorce-related matters, please do not hesitate to contact Paris P. Eliades Law Firm, LLC for a consultation today.