Newton Family Law Blog

Divorce is a stressful and strenuous process, and it is only worse if you happen to be battling for custody, too. Divorce and custody often have financial components that the court takes into account. If one or both of the parents involved in a custody case have high income or assets, it is reasonable to wonder what impact this will have on the process and outcome of your petition for custody.

Consider the following three factors in a custody case that a parent's income can affect. Whether you are the primary breadwinner or you and your ex both earned high incomes, you should be aware of the following as you enter the process of petitioning for custody.

As a high-asset Sussex County or Warren County resident, you know how crucial it is to take measures to mitigate the risks that jeopardize your wealth and investments. One of them is requiring your fiancé to sign a prenuptial contract before you agree to set a date for the ceremony. Prenuptial contracts are enforceable in divorce court if the judge signs off on them. However, there are other measures you can take to keep your wealth intact in a high-asset divorce. 

High-value divorces are tricky because they involve a significant amount of assets and parties believe the laws of equitable distribution do not apply to their situations. Here are a few more considerations about high-asset divorces and property division. 

If you live in the Sussex and Warren County area and are in a high-value marriage and thinking about divorce, you do not want to rush and make rash decisions. When there are high-value assets at stake, it is not always easy to settle a divorce. Issues are likely to arise when it is time to decide the division of marital assets, child custody, and alimony and child support. 

You might be feeling many emotions as you struggle to come to terms with the situation. Your feelings can affect your thinking and cause you to make mistakes during the divorce process that could lead to an unfavorable outcome. There is nothing wrong with you feeling angry and confused. Stay calm and consider the following high-value divorce mistakes to avoid. 

Spouses who are getting their finances in order in anticipation of a divorce are likely considering the issue of alimony and child support payments. As both of these can depend a great deal on the spouses' respective incomes, many divorce cases end up including some major disputes about the extent of these incomes.

Frequently, each spouse argues that the other has a higher income than he or she claims. In some situations, the court may decide to impute income. This means the court arrives at an amount it officially considers a normal income level for this spouse.