Regardless of the length of a New Jersey marriage, there will most likely be property to divide in any subsequent divorce proceedings. For those with significant assets, the process of dividing property can be particularly complex and is typically referred to as a high-asset divorce. Because of all that may be at stake, it is important to understand the distinction between premarital and marital property and how marital are typically handled in divorce proceedings.
Assets often include much more than a shared home and a joint checking account. For some, there may be investment property or vacation homes to think about. One party may feel adamant about keeping the primary home or that party may also want access to a vacation property as well. Other forms of real estate may need to be dealt with, such as multi-family dwellings or strip malls. Divvying up who gets what can be complex.
There may also be various intangible assets to consider as a high asset divorce unfolds. Pensions and retirement accounts generally require careful attention. An equitable division of these accounts could impact impact the quality of life and the type of retirement possible for both parties. For those in the corporate world or who have substantial investments, stock options may be subject to negotiation.
Any time a marriage ends, untangling the life and the lifestyle a couple built together can be a lengthy and complicated process. Knowing exactly what assets exist (as well as what liabilities) and how those items can divided as fairly as possible is an essential part of a high asset divorce. Our website has further information for anyone interested in learning more about how our firm can assist you with a high-asset divorce in New Jersey.