Bergen and Hudson County High Net Worth Divorce Attorney
In the state of New Jersey, marital property must be divided equitably upon divorce. An "equitable division" does not mean assets and property are divided 50-50; rather, the court, taking into consideration the earning potential of both parties, their level of education, work experience, and other factors, will apportion marital assets in way it believes is "equitable." When there are substantial assets involved or one or both spouses owns a closely held business, what is equitable and what assets are considered marital property can be a complicated and delicate matter. A
t the Law Offices of Jeffrey Bloom, we handle high net worth divorce cases involving closely held businesses, stock investments, offshore bank accounts, real estate property holdings, and other types of marital assets. If necessary, we work with a forensic accountant who can locate or verify assets and help determine the value of a company. We represent clients of substantial means in Bergen County, Hudson County, across New Jersey, and West New York.
If you have substantial investments or own a business, contact high net worth divorce lawyer Jeffrey Bloom today to schedule an appointment and learn how we can help protect your legal and financial interests.
Division of Marital Assets and Divorce
At the Law Offices of Jeffrey Bloom, we advise and represent clients in high net worth divorce cases involving the division of the following kinds of marital property:
- 401ks, IRAs, and Pensions
- Closely held businesses
- Equity in a home or other real estate holdings
- Investments in stocks and bonds
- Royalties from intellectual property rights
- Inheritance converted into marital property
- Savings accounts
Business Valuations and High Net Worth Divorce
The valuation of a business can be complicated by a number of factors. First, there is a difference between the standard value of a business and the promise of value. "Standard value" refers to the set of conditions under which a business is valued while the "premise of value" refers to a set of assumptions regarding where the value of a business rests.
Here, market conditions, the use of hypothetical conditions, and assumptions about where the real value of a business lies can lead to disputes about the value of business assets for the purposes of the division of marital property. If a business valuation isn't challenged or carefully reviewed, it could skew the results of the division of marital assets.
Contact Hudson and Bergen County High-Asset Divorce Lawyer Jeffrey Bloom
The division of marital assets is essential for protecting your long-term financial interests, credit score, and business. If you are facing divorce and have substantial assets, contact divorce attorney Jeffrey Bloom in West New York or Hackensack today to schedule an appointment. Call (201) 868-9300.