Divorce issues more sobering when complex assets involved

Every New Jersey divorce situation is unique. There are no two individuals alike and when their unions dissolve, the processes required to settle the range of issues -- from temporary support, child custody and support, perhaps even pet custody and support – are exclusively their own. Because of the region we are in – somewhat inland but near the shore – there are couples at all income levels.

At the lower end of the scale, resolving divorce issues might be rather straightforward. However, the closer one gets to the Atlantic, the more likely it is that the number of marital assets will be higher and carry more value. If the wealth of the couple was accumulated over the course of the marriage, achieving equitable division of property can be complicated.

Practical legal recommendations

Retain attorneys

No one can promise that a divorce can be made easy. However, if the parties engage their own skilled attorneys, it can help keep the process moving smoothly. Depending on how the couple has handled their finances or in cases where there is only one income earner, standards of fairness might require that the better-off spouse carry a greater share of financial burden, at least for a while.

Know your worth

Those with experience know that legal and other professional help is important in high-asset divorces to deliver confidence that all potential assets are identified and properly valued. These could include multiple homes, stocks, retirement savings, business holdings and benefits under Social Security or insurance policies. But taking stock should also include counting smaller items, such as vehicles, computers, artwork and furniture, even jewelry.

Seek privacy

If you are well off, you likely have social visibility. You can't keep the fact of your divorce private. Proceedings are a matter of public record. However, if you worry that revealing certain sensitive information might be detrimental to you; a request to seal certain documents might be made. A skilled attorney will be in the best position to help assess what is possible.

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