Elder Law, Family Law, and Estate Planning in Hackensack, New Jersey

Divorces are often a challenge for all couples, but things can get even trickier for high net worth couples . The reason these cases are often tricky is that one or both individuals that were married are bringing in large sums of money. There may be special considerations that would need to be reviewed, including any prenuptial agreements that were created and signed before both parties exchanged vows and got married. Reviewing the Prenuptial Agreement Most people with a high net worth will have a prenuptial agreement drawn up before they get married. The purpose of the agreement is to protect their finances and assets in the event of a divorce. Before figuring out who gets what after the divorce, the prenuptial agreement must be carefully examined by the attorneys for both parties. Certain things may have been agreed upon in advance, including alimony support payments that one person will receive from the other person after the divorce. The ownership of different assets may ...

Do you want to make sure your will does not go through  probate  in the aftermath of your death? When a will goes through probate, the court must decide who gets what. Although this may not sound ideal, there are ways to avoid probate altogether. You must take certain steps while you are still living to ensure that you have properly handled your estate and have made important decisions on who you would like to have as beneficiaries. Add a Joint Owner to Everything You Own If you know, love, and trust someone important in your life, such as your partner or adult child, you can add that person as a joint owner to everything you own. For example, you would add this person’s name to your bank account while making him or her co-owner of anything you own, such as your home, rental properties that are in your name, and any vehicles that belong to you. When you have a joint owner and you pass away, probate is avoided because the joint owner will get to keep your belongings....