High Net Worth Divorce Attorneys
Protecting your assets and your future during divorce
When stakes are high, it is crucial to work with a skilled legal team that can guide you through the many decisions you will need to make to protect your financial interests. Dughi, Hewit & Domalewski’s high net worth divorce attorneys have over 50 years of experience helping clients resolve divorces when business ownership, inheritances, highly valued trusts, and estates are on the line.
We pride ourselves on our commitment to our clients—our mission is to provide compassionate, client-focused legal counsel while ardently defending a client’s right to asset retention and equitable division of property.
How Dughi, Hewit & Domalewski Approaches High Net Worth Divorce
High net worth divorces are not just about protecting your financial position today—the right legal representation can help you safeguard your future. The outcome of your divorce could well impact others, from children and grandchild to employees and stakeholders if you own a business.
Because of the high stakes involved, high net worth divorces require specialized legal representation.
At Dughi, Hewit & Domalewski, our experienced NJ divorce attorneys understand the complex issues involved in high net worth divorce cases. We have the experience to help you protect your interests in all aspects of your divorce, including prenuptial agreements, real estate, business valuations, stock options, retirement assets, and more.
Prenuptial Agreements
Prenuptial agreements may not feel like the most romantic way to celebrate impending nuptials, but it is a smart move for protecting your assets—especially if you have substantial assets.
How do prenuptial agreements work?
A prenuptial agreement is a legal contract entered into before marriage that sets out both parties’ rights and obligations concerning important issues like spousal support, division of assets, and establishing responsibility for the repayment of premarital debt.
Having a prenuptial agreement can save you and your spouse time and money in the event of a divorce.
In some circumstances, however, parties who have not entered into a prenuptial agreement choose to enter in a similar agreement after they become married, called a post-nuptial agreement. Such agreements, however, are subject to stricter standards for enforcement.
Our experienced team of matrimonial and family lawyers can guide you through establishing a prenuptial or post-nuptial agreement and enforcing such agreements. Additionally, where necessary, our team can also assist you in vacating such agreements.
Real Estate
Property division can be particularly stressful as it affects both your current and future financial security. Real estate holdings can comprise a large amount of the assets in these cases and often involve several other parties.
Our experienced attorneys have specialized knowledge of the complex property distribution issues common in high net worth divorces. At Dughi, Hewit & Domalewski, we are committed to protecting your real estate interests both in and out of the courtroom.
Business Valuations
As a business owner, divorces can be particularly stressful since the future of the business can often be at stake. We work with business owners across a range of business types, such as:
- Dental, medical, and legal practices
- Limited liability companies
- Partnerships
- Sole proprietorships
- S-Corps
- Corporations
These cases are fact-intensive and both the valuation and what is considered an equitable distribution are subjective and can vary widely. Factors that may be considered in a business valuation include:
- The nature of the business
- The value of the business’s stock
- The economic outlook for the business and its corresponding industry
- The business’s financial condition
- Other relevant factors
Our high net worth divorce lawyers work with business and other experts for a full forensic accounting to determine the true worth of the business, then advocate on your behalf to preserve your interests.
Stock Options
Stock options are eligible for division, as they are considered part of the marital assets.
There are different rules associated with deferred vested and non-vested types of compensation.
Vested compensation will be divided in one of two ways. Either:
1) The stock will be cashed out or the options will be exercised, OR
2) The employee spouse will receive the stock options and the other spouse will receive equivalent assets. The valuation of the assets is determined by the court.
Non-vested deferred compensation can be more challenging to divide. In some cases, the value of the stock earned during the marriage may be split instead of the full amount of the vested compensation.
Whether your case involves traditional stock options, restricted stock options, executive benefits, or other deferred compensation, our legal team has the knowledge and the experience to zealously advocate for your protection.
Retirement Assets
Retirement accounts are part of the marital estate and, as such, are subject to division. Gray divorces typically require more complex retirement asset deliberations and have an increased sense of urgency because of the proximity to retirement.
Retirement assets need a Qualified Domestic Relations Order (“QDRO”) to be divided. The QDRO and the complex tax issues involved in splitting the assets can be addressed by an experienced New Jersey matrimonial and family lawyer.
Protect your retirement assets in a high net worth divorce by entrusting the skilled advocates at Dughi, Hewit & Domalewski: contact us today for your initial evaluation.
Scheduling a Consultation
At Dughi, Hewit & Domalewski, we take pride in our attorney-client relationships and give legal advice that is tailor-made and solution-focused.
If you are a New Jersey resident engaged in a high net worth divorce or other family law issue, our experienced divorce and family law attorneys are ready to help you during this difficult time. To learn more about how Dughi, Hewit & Domalewski can assist you with your case, schedule your consultation with our team today.
High Net Worth Divorce FAQs
What is a high net worth divorce?
Traditionally, a high net worth is considered one that involves more than $1 million in net liquid assets. This amount has increased over time, but the definition has also expanded to include couples with substantial investments, business ownerships or partnerships, and more.
Why are high net worth divorce cases more complex?
High net worth divorces can be more complicated than the average divorce case, largely because of the complex, high-value financial situations of the parties. Divorcing couples may need to address assets such as:
- Retirement accounts
- Investment accounts
- Stock options
- Business ownership or partnerships
- Real estate
- Vehicles
- Artwork
- And more
Additionally, the divorcing couple may have prenuptial or post-nuptial agreements to take into consideration during the divorce.
How does division of assets work in New Jersey?
New Jersey is an equitable distribution state. This means that the court will divide marital assets—not separate property—depending on what is equitable and not by a “50/50” split.
To determine what division of marital property is equitable, the court considers a number of factors including:
- The length of the marriage
- The prenuptial agreement
- The standard of living the couple had during the marriage
- The economic circumstances of each spouse
- The income and earning capacity of each spouse
- Contributions made to the education or earning of the other spouse
- The time and expense required for one spouse to acquire the training or education necessary to achieve the same standard of living as they experienced during the marriage
- Which parent has physical custody of any children
- Child support
- Each spouse’s debts
- Other relevant factors that may change depending on the circumstances of the case
A divorce in New Jersey can sometimes require lengthy litigation, especially when the disputed marital assets are substantial. At Dughi, Hewitt & Domalewski, we strive to obtain effective and efficient solutions for our clients both in the courtroom and through alternative dispute resolution (“ADR”) methods such as mediation.
How will our retirement accounts be divided?
Dividing pensions and retirement accounts can be a complex matter, regardless of whether a divorce is low or high net worth. There are tax implications to consider, as well as whether or not a plan is vested and how the account was paid into.
In many cases, pensions and retirement accounts are settled through a Qualified Domestic Relations Order (QDRO). A QDRO details how much each spouse will receive from the account, when they will receive it, and how.
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