High Asset Divorce Attorneys in Marlton & Northfield
Representing Business Owners, Executives, and Entrepreneurs
At Burnham Douglass Attorneys At Law, we know firsthand that divorce is one of the most stressful life events a married couple can endure. When divorce occurs between a couple that shares business enterprises, stocks, retirement plans, property, and real estate, the legal woes and headaches multiply. Our experienced and knowledgeable divorce lawyers have the extensive resources you need to deliver efficient representation throughout each phase of the divorce process.
We can assist with all aspects of a high asset divorce, including:
- Valuating businesses
- Forensic accounting
- Uncovering hidden assets
- Tax consequences of dividing assets
- Protecting professional practices
- Pension valuation
- Real estate appraisal
- Prenuptial agreement litigation
Call (856) 512-1461 to speak to our legal professionals so we can discuss the ways your business, other sources of income, and investments might be impacted by your divorce.
Tips on How to Handle a High Asset Divorce
When you're facing a high asset divorce, here are a few tip to help you navigate the divorce process.
- Take note of your finances/lifestyle - Take into account all of your personal expenses and your family's lifestyle, including childcare, homes, schooling, etc. These are factored into determining divorce, child, and spousal support orders.
- Compile all financial documents - Obtain copies of all your financial records, as you will need to disclose your assets and submit these to the court.
- Understand the tax consequences - Ask your attorney about the tax implications of your asset and property division so you can better understand how much you'll be left with after taxes.
- Hire an attorney - There is a lot at stake in these cases, and you never want to handle these cases alone. Have an attorney guide you through your case to protect your financial interests.
Resourceful Strategies for Identifying Income, Assets, & Hidden Assets
Identifying the income and assets of a married couple is vital to a fair divorce settlement. The identification of hidden income and assets is equally important. In many high net worth divorces, spouses are not always aware of all income sources or assets that have accumulated during the marriage.
Business ventures, partnerships, interests, stock purchases, inheritances, trusts, and annuities that accumulate during the marital period become part of the estate. All bank accounts, brokerage accounts, individual retirement accounts, pensions, deferred compensation, and stock options available to one spouse need to be valued so that a fair distribution among both marital partners can be reached.
Division of Real Estate & Property
In a high net worth divorce, there can be several residences, vacation homes in various locations, and investment or commercial properties. Depending on the specifics of each purchase, not all property may be subject to equitable distribution. The date of the marriage, purchase date of the property, down payment amounts, and payment sources will impact the portion of the property each spouse is entitled to receive. Our legal team is here to assist with valuation, comparative market appraisal, and analysis of each property to determine fair distribution.
Couples must also decide what they will do with each property after the divorce. The issue of which property will be the place of residence for each spouse, what properties will be sold, and which properties will be redistributed among the divorcing couple must be decided. When an amicable settlement is not possible, the court will need to step in.
Retirement Benefits & Stock Options
In New Jersey, all retirement benefits accrued from the date of the marriage to the date the couple petitions for divorce are generally subject to equitable distribution. The following will be examined and then split through a domestic relations order:
- 401k plans
- Deferred compensation plans
These assets are distributed in the future, but the net worth and benefit amount you are entitled to are established at this time. Stock options offered through employment can become very complicated when figuring out taxes related to stock distribution or early withdrawal penalty.
Handling Distribution of Business Interests & Partnerships
When a spouse or couple owns a business, equitable distribution of these assets can be increasingly complex. The business or partnership must undergo a valuation process that typically requires the services of a forensic accountant and actuary.
An in-depth inspection of all aspects of the business must be conducted to determine the current and future worth of the business. This includes:
- The business property
- Transaction records
- Financial records
- Real estate
- Client lists
- Partnership interests
If one spouse owned the business before the marriage occurred, it may affect whether the business is considered a marital asset. The couple must also decide whether they will keep the business or sell it. Buy-outs, sale, annuitized settlement, or some other distribution agreement must be drafted when the decision is made on the future of the business.
Drafting & Enforcing Prenuptial Agreements
While prenuptial agreements are honored in New Jersey courts, it is vital that a qualified divorce lawyer reviews it in relation to current New Jersey laws. A spouse that signed a prenuptial agreement may still be entitled to part of their spouse’s retirement benefits and property.
The laws regarding prenuptial agreements are specific in New Jersey and can be overwhelming to interpret if a lawyer is not familiar with the most current stipulations. Our competent and experienced divorce lawyers will ensure that your rights are protected and that you claim your fair share of marital assets.
Experienced & Knowledgeable Counsel in Your Corner
Preparation and gaining a comprehensive understanding of your legal options are keys to successfully navigating your high asset divorce. Our legal team at Burnham Douglass Attorneys At Law is here to thoroughly review the details of your situation to get a clear picture of your finances so that we can devise a strategy that will help reduce your stress and anxiety during the divorce proceedings.
Do you need legal advice regarding your high asset divorce? Then reach out to our team of experienced legal professionals to discuss your case goals. Call (856) 512-1461 to schedule your free case consultation today.
Philip S. Burnham, II View Profile
Michelle J. Douglass View Profile
Dr. Keith W. Diener View Profile
Brooke Knorr View Profile
Michael O'Brien View Profile
Monica Chris-Luca View Profile
Maria Andreina Fernandez View Profile
Maria Alexandra Fernandez View Profile
Jennifer Agnoni View Profile
Gabriella Zito View Profile
Diane Burnham View Profile
I could not have been more pleased with the firm or our result.- Michelle M.C.
Both Michelle and Phil made me feel like I was a family member they were representing.- Robert K. Petroski
After meeting Michelle, she gave me the confidence I needed to fight for what I deserved.- Maria Marino
I never knew compassion, value and honesty could exist in an attorney until I met Philip.- Dan
She was always very prompt in her follow-up and developed a winning strategy for me.- James Runyon
Michelle Douglass is a straight shooter and fights for your rights.- Dave Daniels
Phil's service exceeded my expectations and I found him to be more responsive and sensitive to my situation than the previous lawyer I had used.- Abby
Ms. Douglass always returned my calls promptly as if I were the most valuable client among the many she represents.- Heather
I was helped by Michelle every step of the way, with guidance and answers. She is remarkable and I love her.- Joanne Imperatore
Ms. Douglass, I got a feeling of genuine concern, unlike that of the prior attorneys I had spoken to.- Kathy Jen
We approach each client with compassion, empathy and care.
We have an in-depth understanding of the law and how it relates to your unique case.
We will provide you with the personal attention your case deserves.
We offer video, after hour and weekend appointments for your convenience.
We deliver high-quality legal work because we handle select cases.
We have been serving the needs of our clients for over 30 years and are dedicated to your success.