Dos and Dont’s of a high net worth divorce

Divorce is a mentally and physically draining or eroding phenomenon, which can lead a man or woman to complete disaster, especially when the couple has issues from the marriage. However, a divorce case is also very financially exhaustive, as either of the spouses is provided with the responsibility to compensate for the loss and to help the other spouse live a comfortable and sanitary lifestyle. However, these are occasionally not the associated problems with high net worth divorce cases, as both the husband and the wife remain in a financially strong position and do not really feel the heat in paying alimony. However, there are still a lot of struggles and hassles associated with these types of high value divorces as both the parties must be ready with their own preparations and home works in order to bring the judgment to their favor. Here are a few dos and dont’s for every high net worth family law New Jersey divorce.

Dos:

 Asses’ marital asset value:

While millionaires and billionaires have lots to spend, most of them don’t have the hard cash or liquid assets available with them. Most of these rich individuals have multiple income options and their assets or money always remain invested in the market. Apart from that, it is also extremely difficult to analyze the actual worth of every asset hence, it is important to inform the lawyer about the real worth of every asset, so that the lawyer can formulate a strategy to finish of the case by securing the maximum benefits for their clients in a family law New Jersey divorce case.

Dissolve amicably:

One of the best ways to dissolve a high profile marriage is to opt for collaborative divorce, types of family law New Jersey divorce, in which the couples come to terms with each other outside a court and the divorce is commenced with the help of a divorce lawyer only. The advantage of getting separated in this manner is that high profile won’t have to drag them to the court and come under media scrutiny and will also be able to save considerably on their precious time.

Don’ts:

  Forget to hire a lawyer:

No matter how powerful the spouses are, it is always advisable to hire a lawyer for the family law New Jersey divorce case that has been filed. An expert lawyer will be able to provide the client with many useful assets and will be able to take out the case from a tricky situation that a rich person will not be able to handle him or herself.

 For further details visit Connecticut Divorce Lawyer or wants an appointment contact Connecticut High Net Worth Divorce Lawyer here: Cappalli & Hill, LLC. 325 Highland Ave. Cheshire, CT 06410

Call us today! (201) 530-6272

New Jersey Prenuptial Agreements

A prenuptial or premarital agreement is an agreement between a couple considering marriage, wherein each parties’ rights and obligations concerning property division and spousal support, in the event of a divorce or death, are determined prior to the marriage. In New Jersey, prenuptial, or ante nuptial, agreements are governed by the Uniform Premarital and Pre-Civil Union Agreement Act., N.J.S.A. 37:2-31 et seq. The Act requires that a prenuptial agreement be in writing, contain a list of assets, and be signed by both parties. It provides that the agreement becomes effective upon the marriage or establishment of the civil union of the parties, and is enforceable without consideration. It also provides that the parties to a premarital or pre-civil union agreement may contract regarding:

1. The rights and obligations of the parties in any property of either or both of them whenever and wherever acquired or located;
2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
3. The modification or elimination of spousal or one partner in a civil union couple support;
4. The disposition of property upon separation, marital dissolution, dissolution of a civil union, death, or the occurrence or nonoccurrence of any other event;
5. The ownership rights in and disposition of the death benefit from a life insurance policy;
6. The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
7. The choice of law governing the construction of the agreement; and
8. Any other matter, including their personal rights and obligations, not in violation of public policy.

A premarital or pre-civil union agreement clause, which adversely affects child support, will be unenforceable, according to the Act. Parties to the agreement may amend or revoke the agreement in writing at any time. Any revocation or amendment must be signed by both parties, and is enforceable without consideration.

A premarital or pre-civil union agreement may be set aside if the party alleging that the agreement is unenforceable proves by clear and convincing evidence that the party executed the agreement involuntarily, the agreement was unconscionable at the time enforcement was sought, or that the party, before execution of the agreement:

1. Was not provided full and fair disclosure of the earnings, property and financial obligations of the other party; 
2. Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided;
3. Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party; or
4. Did not consult with independent legal counsel and did not voluntarily and expressly waive, in writing, the opportunity to consult with independent legal counsel.

A premarital or pre-civil union agreement that otherwise would be enforceable, will be so only to the extent necessary to avoid an inequitable result, should the marriage or civil union of the parties be determined to be void. 

Source:

LexisNexis, N.J.S.A. 37:2-31 et seq.

For further details visit New Jersey Family Law Attorneys or wants an appointment contact Bergen County Divorce Attorneys here: 3 University Plaza, Suite 350 Hackensack, NJ 07601

Telephone: (201) 771-1808