Even divorces that are set to proceed smoothly forward can hit snags and complications along the way, and one of the universally challenging terms of divorce is the division of marital assets. One factor that tends to make this already-complex aspect of divorce more so is high assets. Because protecting your financial rights throughout the divorce process is key, don’t wait to consult with an experienced Evanston high asset divorce attorney.
In Illinois, the assets that you, your spouse, or both of you together acquire during the years of your marriage are considered marital property. Upon divorce, these assets or their value must be distributed between the two of you in a manner that the court considers equitable – or fair in light of the unique circumstances that apply. While the division of marital property has the capacity to become a hot button issue in any divorce, the risk is far greater when high assets are involved.
There are a range of factors that can make high asset divorces more challenging. To begin, the higher the assets, the more leeway there is to obscure your overall value as a married couple, and if your spouse is more involved in the financial side of things, it can leave you at a serious disadvantage. Further, high assets tend to translate to complicated assets, which can be more difficult to value. A prime example is a business, which can prove arduous when it comes to assigning a mutually acceptable value. Thick financial portfolios, diversified investments, and similar factors can also lead to complications.
The fact is that the higher your assets, the greater the chance that financial games will be played, which can make engaging forensic accounting well worth the investment. While you may think your spouse is above stooping to financial trickery, it’s important to recognize that the stress of divorce and the fear of decreased financial worth can drive otherwise reasonable people to behave unreasonably.
In order to help protect your financial rights, it’s important to better understand the factors that Illinois courts consider in relation to the division of marital assets, including:
High asset divorces come with their own set of complications, and the formidable Evanston high asset divorce attorneys at Hammer Serna & Quinn recognize what’s at stake in your case and have the legal insight and focus to skillfully advocate for a just resolution that works for you. Your case is important, so please don’t hesitate to contact us for more information today.
Call or email Hammer Serna & Quinn, LLC today to schedule a consultation.