Divorcing couples in New Jersey often have a wide variety of questions about how the dissolution process will work. Each divorce case is different, but many will involve common issues: child custody and support, alimony and property division. For some couples in a high asset divorce, property division and alimony might be the most important issues of all. But, just because a divorce involves a significant amount of assets, does that mean that the sides should push for a quick resolution of the case to save money?
No two divorce cases in New Jersey are the same. Some are amicable, in which the couple can agree on most of the terms of the divorce out-of-court and submit an agreement to the court for approval. Others are contentious, seeing the couple fight over every detail of the dissolution proceeding, from child custody and support to alimony and property division. However, oftentimes the biggest difference between any two cases is the amount of assets involved.
Celebrity divorces always seem to make the news, and there always seem to be a number of them going on at the same time. Right now, one of the most heavily-covered high asset divorces is the one that Matt Lauer is involved in with his wife.
Thousands of divorce cases go through the New Jersey court system every year. However, not all of those cases involve high asset divorces, in which the couple going through the divorce has accumulated quite a bit of assets throughout the course of the marriage. In a high asset divorce, your life will change both during and after the case is over.
A previous post on this blog from several months ago talked about how New Jersey law handles situations in which one or both parents make so much money that New Jersey's Child Support Guidelines do not account for the full extent of their income. The basic idea of that post was that child support orders in such cases were more fluid and subject to a court's discretion.
A previous post discussed how the ordinary means of finding out about a spouse's assets and debts in the process of a divorce or bed and board divorce is to use the various means of legal discovery provided under New Jersey law.
In any New Jersey divorce, including a bed and board divorce, it can be hard for one spouse to know that he or she is in fact getting his or her fair share of all the assets to which the law entitles him or her.
Many New Jersey residents own their own businesses or have a share of ownership in a family business. If successful, these business interests can be a source of a great deal of wealth and income for a Marlton couple, especially if they both are involved in running the business.
Like other states, New Jersey has child support guidelines which help judges in this state make fair and consistent decisions about how much child support a parent should pay.