High Asset Divorce Lawyers Glenview

High Asset Divorce Lawyers Glenview

The division of marital property has the potential to be the most contentious divorce term, and when the divorce involves high assets, the matter is likely to be that much more complicated. High-asset divorce often requires an additional layer of legal attention, and working closely with an experienced Glenview high-asset divorce lawyer is always to your advantage.

Yours, Mine, and Ours

When it comes to property division in an Illinois divorce, it is important to first distinguish between separate and marital property. Any assets that you and your spouse owed prior to marrying and that you kept separate while you were married will remain that spouse’s separate property. Complicating factors, however, include the following:

  • Any commingling of financing between separate and married property can chip away at an asset’s separate nature.
  • Any use of marital assets to sustain or grow the value of a separate asset can similarly blur the distinction. 
  • Any growth in a separate asset’s value may be considered marital. 

In other words, what you may have thought would be a simple division of separate assets from marital assets can prove exceptionally challenging.

Marital Property

If the property in question came to be owned by you, your spouse, or both of you together over the course of your marriage, it is a marital asset that will need to be directly addressed in your high-asset divorce. Some assets that tend to make this process that much more challenging include:

  • Business ownership
  • A complicated and extensive financial portfolio
  • Joint ventures
  • Multiple real estate investments

One of the most complex aspects of property division when it comes to high assets is arriving at values that the spouses find mutually acceptable.

Challenges Faced

Let’s consider an asset like a business, which is a prime example of why high-asset divorces are more challenging to resolve. Keep the following in mind:

  • If one spouse runs the business or has far more involvement with the business, it can make obtaining a fair evaluation through the assessment of transparent financials more difficult.
  • Businesses offer a wide range of opportunities for less-than-forthright spouses to tinker with the numbers, hide assets, and worse.
  • Dividing a business by selling or liquidating it rarely makes financial sense, and hammering out fair compensation for the spouse who walks away is complex.
  • The spouse who ends up walking away from the business also faces losses related to future earning potential, which can be immense and should be addressed. 

Striking a balance in a high-asset divorce requires the professional legal guidance of a seasoned high-asset divorce lawyer.

Turn to an Experienced High Asset Divorce Lawyer in Glenview for the Help You Need

There is no denying that high-asset divorces are more likely to become mired in complications. The focused high-asset divorce lawyers at Hammer Serna & Quinn, LLC, in Glenview, however, have a wealth of imposing experience successfully assessing the values involved and skillfully advocating for divisions that support our valued clients’ financial rights. We’re here for you, too, so please don’t wait to learn more by contacting us today.

Get In Touch

Call or email Hammer Serna & Quinn, LLC today to schedule a consultation.