If you are in a high net worth divorce, you must prepare yourself for the legal process ahead. Continue reading and reach out to the Law Offices of Katherine K. Wagner to learn more about high net worth divorce in New Jersey and what you can expect out of the legal process ahead.
What is a high net worth divorce?
Though the qualifications for a high net worth divorce are not set in stone, if you or your spouse have assets worth over $1 million, this will likely constitute a high net worth divorce.
What assets are affected in a high net worth divorce?
High net worth divorces typically deal with various standard divorce issues, such as child custody, spousal support, and the division of assets. However, when it comes to property division for high net couples, they often have far more at stake, including the following:
- Multiple real estate and property holdings
- Shared businesses
- Business investments
- Retirement accounts
- Pensions
- Benefits
- 401(k)s
- Stocks
- Bonds
In some cases, high net worth divorces call for the involvement of forensic accountants, real estate and property appraisers, certified public accountants, financial analysts, private investigators, and other experts to accurately value a couple’s assets before the equitable distribution process.
How can I protect my assets?
There are a few ways in which you can protect your assets from a high net worth divorce. One of the first legal documents you can draft is a prenuptial agreement. This document must, however, be drafted before your marriage. This will help, not only to determine the premarital value of your assets, but the terms of the prenuptial agreement can outline how assets will be divided in the event of a divorce. If you and your spouse own a business together, you can prepare a shareholder agreement that can address what will happen to your business, should you get a divorce.
If you have any further questions regarding a high net worth divorce, contact the Law Offices of Katherine K. Wagner today.
Contact the Law Offices of Katherine K. Wagner
Do not face complex divorce and family law matters alone. With over 25 years of experience, the Law Offices of Katherine K. Wagner is dedicated to providing you with the knowledge and skill your case deserves. We will fight to protect your rights, your financial security, and your children. Contact the Law Offices of Katherine K. Wagner today for a consultation.