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Preparing for the end of a marriage can be challenging in general. This is particularly true if the couple shares substantial monetary assets. When the stakes are high, the chances of conflict can increase dramatically.
One way to improve your chances of a favorable outcome is to prepare ahead of time. Before you file, you can evaluate your valuables, review the terms of any marital agreements, and identify an experienced high-asset lawyer to serve as your advocate.
Schedule a consultation with the O’Cathain Law Group Family Law Department to discuss additional pre-filing considerations for high-asset divorces in Hackensack.
An important part of any divorce is property division. Before the court can divide these assets, it must determine if they are marital or separate. This is because the judge only has the power to divide things acquired during the marriage.
There is a presumption that anything purchased or obtained during the course of the marriage is a shared asset, while things owned prior to the union are considered separate. Some circumstances can change how property is identified; one of our knowledgeable Hackensack lawyers will answer your questions about how to protect what is yours, and we’ll fight for whatever items are most important to you.
One of the most complex aspects of a high-asset divorce is determining exactly what expensive or rare items are actually worth. Determining the market value for a previously owned sedan or a residential home is straightforward, but that is not the case for things like rare jewelry or commercial real estate.
To determine what these possessions are worth, you will need to rely on the judgment of an expert. They will use their experience and skill to determine how much something is worth when there are not as many similar transactions to compare it to.
A prenuptial or postnuptial agreement has the potential to radically alter the outcome of your divorce case. The specifics of these agreements can override state law in many situations, meaning the way property is divided in your marriage might be very different if you signed a prenup.
Before you file for divorce, it is a good idea to carefully review the terms of these agreements. This is best done with the help of experienced legal counsel. In addition to getting a refresher on the language, this is also an opportunity to investigate whether the agreement is valid.
If you only signed the contract due to fraud or coercion, you have a strong argument for setting the document aside. The same is true if your spouse failed to fully disclose their possessions or debts prior to signing.
Due to the high stakes, you may benefit from seeking legal counsel to assist you. The right attorney can ensure you are prepared and provide you with insight on the right steps along the way. Addressing pre-filing considerations for your high-asset divorce in Hackensack can put you in a position to get the best possible outcome.
Call the O’Cathain Law Group Family Law Department as soon as possible for a private consultation.