Navigating a High Net Worth Divorce: Key Steps to Protect Your Future
Divorce is always a significant life event, but when substantial assets are involved, the stakes are even higher. A high net worth divorce—typically involving over $1 million in assets—requires careful planning, strategic thinking, and experienced legal counsel. At Simon Law Group, we understand the complexities that come with dissolving a financially intricate marriage. Here are the essential steps involved in navigating a high asset divorce.
Step 2: Identify and Classify Assets
The next step is to take a full inventory of assets, including:
- Business interests
- Bank and brokerage accounts
- Retirement and pension plans
- Real estate (domestic and international)
- Luxury items (jewelry, vehicles, art, collectibles)
- Intellectual property
- Deferred compensation or stock options
Once identified, the assets must be classified as marital or separate property. This distinction will guide what is subject to equitable distribution under New Jersey law.
Stay tuned for the next in our series of Navigating a High Net Worth Divorce: Key Steps to Protect Your Future
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