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It can be challenging to determine how to split assets, no matter your financial situation. However, the impact of negative property division decisions can be especially devastating due to the high dollar amounts involved in a high-asset divorce case. A Hackensack high-asset divorce lawyer can help you create a plan that keeps property division accurate and equitable.
The Hackensack family lawyers at The Montanari Law Group has helped countless couples find favorable property division methods, which can protect their financial security and personal interests during their divorce. Our attorneys understand how emotionally difficult this process can be, which is why we offer personalized guidance for every case. We seek to resolve any conflicts quickly and effectively.
While there is no specific legal definition of a high-asset divorce, a high-asset divorce case typically involves a total net worth of $1 million or higher. If you are concerned about the financial impact of a divorce due to having substantial income or assets, you can benefit from working with a Hackensack high-asset divorce attorney.
High-asset divorce is not especially common in Hackensack, with the city having a median household income of $84,277 and a median home sale price of $465,000. Because the divorce system does not regularly work with couples who have sizeable assets, it is essential to hire a high-asset divorce lawyer who understands the unique challenges you can face.
Asset division in New Jersey is done through equitable distribution, which means it is determined subjectively, depending on factors such as:
With a divorce rate of 2.2 per 1,000 people, many New Jersey couples are left to determine what equitable distribution looks like for them.
Asset division does not always mean a 50/50 split under high-asset divorce laws. This makes it extremely important to work with a Hackensack high-asset divorce lawyer who can stand up for you during negotiations or in the Bergen County Justice Center on Main Street. Even a 60/40 split can mean losing out on a large amount of property when high-value assets are involved.
Some important considerations when dividing high-value assets include:
The three C’s of divorce are communication, cooperation, and compromise. These principles are fundamental in a smooth, uncontested divorce. When the three C’s are present during divorce proceedings, you can more easily find a mutually favorable property division plan that works for you, rather than pursuing fair division in court, where the judge makes the final decisions.
In New Jersey, your spouse is not automatically entitled to half of your 401(k). While a 50/50 split is possible, other options may be decided between you and your spouse or a judge. These include offsetting the value of the 401(k) with other marital assets or splitting the value unequally.
Business assets can be some of the highest-value assets in the marital estate, making choosing the right division strategy essential for your financial security as well as to protect the business’s future. Some options your lawyer may suggest include:
Though the specific assets being kept separate during a divorce vary, they generally include assets acquired before the marriage, inheritances, and personal gifts. Additionally, assets included in a prenuptial or postnuptial agreement can remain separate. To learn more about how to protect your assets during property division, speak with a Hackensack high-value divorce attorney.
Experienced legal guidance can help you navigate New Jersey’s equitable distribution standard for high-net-worth divorces. Contact The Montanari Law Group to schedule an initial consultation.
“Michael Montanari was a great lawyer to represent my case and I’m grateful I found him through reviews like these. He’s extremely helpful and knowledgeable and it was a pleasure having him represent my case and win. Highly recommend.” – Juan Alvarez
“Michael is knowledgeable, helpful, proactive, and an expert in his field. I had a very specific situation that he was able to expertly navigate and guide me through for the best possible result. I received exactly the outcome I was hoping for and it’s all thanks to the careful guidance and support of Michael and his team. Thank you again Michael!” – Aidan McGourty
“Jayna Patel was a pleasure to work with. Knowing how knowledgeable and experienced she was put me at ease during a very challenging time. She made the process easy and stress free. I would recommend her services to anyone in need of a family lawyer.” – Leyla
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