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High-asset Wealth Protection

High-asset Wealth Protection New Jersey

New Jersey High-asset Wealth Protection - Mortgage calculator. House, money and document.Thinking of divorce? A New Jersey high-asset wealth protection lawyer may be for you. You
work hard. You invest wisely, you spend wisely, you work with financial advisors— your assets
are yours, and that didn’t just happen by accident.

When we think of divorce, too often we think of financial ruin: the inability to retain the marital
home; the dissolution of the joint bank account; even the mounting legal bills.
But it doesn’t have to be that way. A New Jersey High-Asset Wealth Protection Lawyer can help
you safeguard what you’ve worked so hard to build.

Let’s look at the steps that you and your lawyer can take:

  • Get your financials in order: Prior to consulting with a New Jersey High-Asset Wealth
    Protection Lawyer, make sure your paperwork is in order. Download and print-out as
    much information, and organize it, as best you can (especially prior to a spouse changing
    passwords on accounts). We often plan to do this but fail to find the time (say a filing
    system that’s weeks behind?!). Organized financial records will help your lawyer and
    you as you move forward.
  • If and only if you really believe your spouse will curtail your access to your accounts (or,
    worse yet, empty your accounts), discuss with your attorney isolating half of any joint
    bank accounts into a new, separate bank account. Open a separate bank account and
    move no more than precisely half of the monies you have available in joint-checking and
    joint-savings accounts to safeguard it.
  • Monitor activity on your credit report: If you’re thinking of divorce, keep an eye on your
    joint credit cards. Spouses on the verge of separating often rack up large credit card
    charges, hoping that perhaps those charges and that debt will have to be dealt with
    jointly. Monitor your credit card statements vigorously and use credit monitoring
  • Separate debt: Debt incurred during the marriage is known as ‘marital debt,’ and usually
    the Court will strive for a fifty-fifty split of marital debt (depending upon mitigating
    factors, including additional assets). If one spouse has long-term debt prior to the
    marriage (student loans, medical expenses, etc.) separate that debt as soon as possible.
  • Take inventory of your assets: What exactly do you have, asset-wise? Make a list and
    include relative financial statements and documentation, up-to-date amounts, and links
    to pertinent information (and passwords). Consider all assets: a business, a particular
    piece of art, a bond, etc. You want a comprehensive asset picture.
  • Review your cash-flow analysis: Assets are not the same as cash. Oftentimes divorce
    brings on a cash-flow problem, as assets are tied up in real estate, stock holdings and
    valuations that the Court must examine prior to distribution. Review your cash-flow:
    make a list of what comes in, and your expenses (what goes out). Be realistic with
    yourself here, so you may be realistic with your lawyer.
  • Consult with an accountant to strategize for a long-term tax plan: In high-asset divorces
    your New Jersey High-asset Wealth Protection Lawyer will be part of your financial
    team; that team will more than likely include a forensic accountant/C.P.A. Your team
    and you will discuss a long-term tax plan. You want divorce to be as cost-effective as it
    can, including Uncle Sam’s cut!
  • Don’t relinquish control— and don’t be financially bullied: This is your work, your
    money, your divorce. Don’t let your soon-to-be-ex-spouse devalue your role as a parent,
    a spouse, an earner— a person. We’re here to protect your wealth— and that starts
    with protecting you.

O’Cathain Law Group’s motto is Move Forward. A big part of moving forward in your post-
marriage chapter is being financially secure and protecting your wealth. Together, we can make
sure you protect the assets you deserve.

Qualified Legal Assistance Available

Contemplating divorce but concerned about your high-asset wealth? Call our offices, fill out the
intake form, or email a dedicated Family Law paralegal to speak with a New Jersey High-Asset
Wealth Protection Lawyer at O’Cathain Law Group.

Get Started Today
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