Choosing a High-Net Worth Divorce Attorney

 Posted on September 06,2016 in Divorce

High net-worth divorces are much more complex proceedings than those involving couples of more modest means. If you have substantial individual or marital assets and are considering or entering into divorce proceedings, it is imperative that you select an Illinois divorce attorney who has experience handling high-asset and complex divorces, as opposed to solely standard family law practice. Not all family law attorneys are well-versed in the financial complexities and nuances relevant to high-value asset divorces. Our high-net worth divorce attorneys have both the financial and legal know-how to navigate the intricacies of equitable asset division for couples with sizeable wealth.

What Makes High-Asset Divorces Unique?

The obvious reason that high-asset divorces are unique is that they involve more property division decisions. Some of the issues that often come into play in complex divorce cases include:

• Whether a prenuptial agreement is in place;
• How long the couple has been married;
• The types of investments and brokerage accounts the couple has and whether they have streaming income from stocks or bonds;
• The effect of divorce on pensions, retirement accounts, including IRAs and 401ks;
• The effect of the divorce on trusts and inheritance;
• The tax implications of divorcing and splitting the assets;
• The types of property and real estate owned and whether property will be sold in order to fairly divide assets;
• How future earnings, dividends, and residuals may be affected;
• Whether parties are in disparate positions of financial power and acuity;
• Whether parties own businesses, professional practices or have significant business interests;
• The type and amount of luxury items and collectibles the parties own, including furs, jewelry, antiques, art, coins, etc.; and
• The motor vehicles owned by the parties, including motorcycles, recreational vehicles (RVs), cars, trucks, boats, all-terrain vehicles, construction equipment, commercial vehicles, etc.

Consult an Experienced High-Asset Divorce Attorney in DuPage County 

A skilled divorce lawyer can protect your rights throughout your complex high-asset divorce. A high-asset divorce requires a great deal of investigation since you and your attorney will want to make sure that your spouse is not hiding any assets or withholding information about finances that could be crucial to a fair division of property. Without an adequate investigation of all financial records, you will not have a true picture of the marital assets.

Our skilled Wheaton high-asset divorce attorneys have access to forensic accountants with significant experience locating assets and parsing through investment records, as well as other financial experts who can make sure your marital assets are being valued properly. We can also take steps to make sure your marital assets are preserved and protected during litigation. Whether you are knowledgeable about the status and valuation of your marital assets, or have not previously been very involved in your family's finances, our team will remain by your side to protect your rights throughout the divorce process.

Source:

http://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=075000050HPt%2E+I&ActID=2086&ChapterID=59&SeqStart=100000&SeqEnd=900000