Divorce is often stressful even under the best of circumstances, but high-asset divorces are often more complicated and involve additional steps.

A high-asset divorce is generally considered a divorce with at least $1 million in assets. Property division is part of every New Jersey divorce, and a New Jersey court will try to divide marital property fairly.

Experts may be required

For example, you might need to hire experts, such as appraisers or financial experts, to determine the value of your marital property. Experts like this are typically not needed in a divorce involving a more modest number of assets.

Many divorces today are resolved through alternative dispute resolution methods, such as mediation. This can be an ideal option for high-asset divorces.

Mediation is far less costly than traditional litigation and allows you and your spouse to negotiate an agreement with the help of a mediator. If you are worried that you might agree to something you shouldn’t in mediation, you can have an attorney with you.

An attorney can advise you on whether it is a good idea to accept a deal or not, and advocate for you if they feel a proposal is unfair.

Never hide property or income

Do not, under any circumstances, attempt to hide or not disclose property or income. While you may be tempted to do this, since there is so much at stake, it will only hurt you.

A fair divorce settlement can only be achieved if each spouse openly discloses their financial information.

Tax issues play a major role in high-asset divorces. When negotiating your property division agreement, consider any tax implications, since the effect could more substantial.

Your high income can also affect custody, child support or alimony. An attorney can provide help with all aspects of your high-asset divorce.