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.
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:
In other words, what you may have thought would be a simple division of separate assets from marital assets can prove exceptionally challenging.
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:
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.
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:
Striking a balance in a high-asset divorce requires the professional legal guidance of a seasoned high-asset divorce lawyer.
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.
Call or email Hammer Serna & Quinn, LLC today to schedule a consultation.