Red Bank High Net Worth Divorce Attorney
High Net Divorces in Monmouth County, NJ
A contested divorce has the potential to be an overwhelming and complicated matter. When the parties are high net worth individuals, an already complicated legal matter can be exponentially more complex. A high net worth divorce is when a couple’s assets and monies are valued at or over one million dollars. As assets increase, a contested divorce becomes more troublesome. If you are a high net worth individual, you should contact an attorney with extensive experience handling high profile divorces. The Law Office of Toby Grabelle, LLC knows what it takes to effectively represent high net worth individuals through their divorce. If you need our legal services, contact our office today.
How do high net worth divorces differ from others?
Though high net worth divorces are similar to many others, the difference lies in the complexity of assets and debts. These divorces have to address the same applicable issues related to the marriage, including division of assets, spousal support, child custody, and child support. High net worth divorces are more complex because of assets, including multiple properties, businesses, and professional practices. When a court hears a contested divorce case based on the distribution of assets, it will establish marital property, assign value to the assets, and split them equitably. Furthermore, to paint a clear picture of the marriage, the couple will have to provide financial information that may lead to further problems.
Net worth statements
In the process of discovery, a couple will have to provide financial information. Each individual will have to share net worth statements and tax returns to paint a clear picture of how the marriage functions financially and gives the court all of the facts to justly decide on divorce matters. When a court looks over your financial information, they will scrutinize the facts and ensure that everything is true. If the court was to find any discrepancies, they are obligated to share this information with the Internal Revenue Service, potentially opening up the individual to serious legal matters.
How high net worth individuals protect themselves
High net worth individuals should consider every legal mean to protect themselves and their assets. Many high net worth couples will draft and implement prenuptial agreements that address all relevant matters related to the marriage. A prenuptial agreement can establish what will happen to assets if the marriage doesn’t work out. For those who have already tied the knot, a postnuptial agreement is practically the same document. Both documents are binding when executed correctly and can help a couple avoid the pitfalls of litigation.
Contact a Monmouth divorce attorney with high net worth experience
If you are a high net worth individual facing divorce, you need effective and experienced legal support. It is important to have an attorney on your side that has the skill and knowledge to take on the complexity of a high net worth divorce and protect your interests. If you need quality legal services, contact The Law Office of Toby Grabelle, LLC.