Everyone knows that a divorce ends a marriage so that the two people involved in the relationship can, hopefully, move on to a better life. However, a divorce is more than just an opportunity to get out of a relationship that isn’t living up to expectations. For couples who have considerable wealth, understanding the implications of a high asset divorce is crucial.
Part of putting an end to a marriage is dividing assets and debts. In a high asset divorce, the stakes are high. Couples may have more assets to consider than would be involved in the usual “run-of-the-mill” divorce including, potentially, assets such as artwork, business interests, investment accounts, pensions and even second homes, boats or multiple high-priced vehicles. Each of the soon-to-be ex-spouses may have strong preferences about which assets they keep after the divorce is over.
When it comes down to it, how these types of assets will be divided may ultimately be up to the divorcing couple. If they can work toward a negotiated settlement, either through direct talks or through mediation, the high asset divorce may end on a more amicable note. However, if they cannot agree on the terms of the divorce and how the assets involved will be divided, it may be necessary to fight it out in courtroom litigation.
At our law firm, we understand the life-altering affect that a high-asset divorce can have on New Jersey residents. We do our best to attempt to make sure that our clients understand their options. For more information, please visit the divorce overview section of our law firm’s website.