New Jersey High Net Worth Divorce Lawyers
Complex Divorces in New Jersey
Divorce is difficult for any family. However, a divorce involving high net-worth individuals can be especially complex. Difficult financial questions have to be addressed head-on, in order to make sure the divorce decree results in a fair division of marital property and assets. At the same time, it is important to proceed efficiently, so that the parties' assets are not swallowed up by attorneys fees.
At the New Jersey law firm of Goldstein, Bachman & Newman, our founding partners each have more than 20 years' experience practicing law in this difficult area. With sterling academic credentials, strong practice experience and a solid reputation in the local legal community, our law firm is well-positioned to provide legal representation in complex divorce cases. We are strong and creative attorneys with backgrounds in the financial industry, which helps us quickly grasp subtle yet important financial issues.
Complex Financial Issues in Divorce Proceedings
Financial questions arise most frequently in the context of creating a fair marital property settlement. New Jersey divorce law abides by the rules of equitable distribution, which means that property division must be "fair" but need not always be equal. The guidelines provided by the rules of equitable distribution give spouses — and their attorneys — a lot of leeway in which to negotiate a marital property settlement.
Smart attorneys will make sure the property settlement accurately reflects fair ownership percentages of various marital assets. Your attorney should also take into consideration long-term financial issues, such as retirement planning and tax planning.
Tracing the Source of Marital Assets
The basic rule of marital property division states that assets acquired or increased during the marriage must be equitably distributed between the spouses. However, assets that can be shown to be the individual property of either spouse are not part of the marital estate.
The process of determining whether assets are individual or marital in nature can require detailed investigation and careful review of financial records. Our law firm works regularly with a team of forensic financial experts to conduct the necessary investigations.
Dividing a Family Business
If the source of a large marital estate includes a family-owned or -operated business, a legion of questions will arise during the divorce. Who owned or started the business? Did both spouses contribute towards the business's growth? Will the business be sold, or will one spouse buy out the other? How will the sale or buy-out affect the remaining owner's relationship with other partners in the business?
Early Legal and Financial Advice Is Critical
If you are considering divorce — and if your marital estate includes high levels of assets or a family-owned business — it is absolutely essential to get early legal advice. Even before the divorce proceedings begin, your attorney can advise you about strategies that will help you retain as large a percentage of your assets as the law allows.
To schedule an initial consultation with the lawyers of Goldstein, Bachman & Newman, call 732-360-9300, or contact us online. We serve clients throughout central New Jersey, including Middlesex County, Monmouth County and Ocean County.