Divorce is one of the most emotionally charged and challenging events you will face. High assets increase the stakes and complexity of these cases. The concerns about significant financial losses and the division of assets are stressful and daunting.
Illinois has one of the lowest divorce rates in the nation, with 6.6% of all marriages ending in divorce. The national average is 7.6%.
A skilled high-asset divorce lawyer understands the law and protects you. Divorce is a fresh start where you can limit your financial exposure. Our team of skilled professionals will guide you and ensure we work to create the most favorable outcomes for you.
High-asset divorces are complex. There may be businesses, real estate, investment portfolios, and other holdings at stake. The financial and emotional toll becomes more complicated when the couple has shared success. Now these assets must be divided fairly and equitably.
The most significant challenge of high-asset divorces is the impartial distribution of wealth. High-asset divorces require focusing on the details and understanding complex financial investments and arrangements. The possibility of valuation errors, hidden assets, and tax consequences requires working with a skilled high-asset divorce attorney.
The attorneys at Wolfe & Stec have decades of experience working on the most complex high-asset divorces. We understand the uncertainty and pressure you face and are here to help. Contact us today at 630-305-0222 to schedule your free consultation with a skilled high-asset divorce lawyer.
Navigating a high-asset divorce by yourself is a colossal mistake that could cost you. You must protect your interests by ensuring a fair settlement regardless of the tensions and hostilities. The knowledge and experience of the Woodridge high-asset divorce lawyers can help. Here are some of the ways we protect you during your divorce.
Determining the value of different assets — such as real estate, stocks, bonds, businesses, and personal property — is challenging. A high-asset divorce attorney works with financial professionals to accurately appraise the value of these assets so you receive a fair settlement.
High-asset divorces require reviewing and analyzing sensitive financial documents, such as tax returns, financial statements, and business records. Your Illinois high-asset divorce lawyer will help you unravel and identify possible hidden assets or discrepancies that could go unnoticed.
Your attorney stands up and fights vigorously to protect your interests and rights throughout the divorce. We serve as advocates for you to ensure a fair decision on child custody, spousal support, and the distribution of assets. Our job is to safeguard your emotional stability and financial well-being.
Most high-asset divorce cases are resolved by negotiations rather than going to trial. A seasoned high-asset divorce attorney skillfully negotiates to reduce the impact and safeguard your future.
If the case goes to trial, your lawyer has extensive litigation experience. We work to successfully try cases and present a solid case to secure a positive outcome.
High-asset divorces are complex, and you need skilled attorneys to guide you. Our team of divorce attorneys ensures that you and your future are protected.
Illinois is an equitable distribution state, which means marital property does not have to be divided equally. Instead, the property is divided in a manner that the courts consider fair after evaluating the circumstances.
Illinois law considers many factors, including:
In dividing property, the courts will consider whether the property is marital, non-marital, or commingled and then assign a monetary value to the marital property and debt. After that, the marital assets will be distributed equitably.
Marital property consists of all assets you or your spouse acquired during the marriage and before your divorce judgment. It also includes non-marital property that has been transferred into co-ownership and commingled.
Separate or non-marital property is owned solely by one spouse or the other. It cannot be divided by the courts in a divorce. In addition, if you and your spouse have an existing prenuptial or postnuptial agreement, specific property may be excluded from the marital estate.
When assets have been mixed or blended, it must be determined whether the property is marital or separate. Even if one spouse may have acquired assets before marriage it may be considered marital property and subject to division, if the asset appreciated during the marriage.
Common assets at issue in high-asset divorces include:
Many factors complicate a high-asset divorce. These involve a significant number of and higher value of assets than in a typical divorce. Planning is required for equitable distribution of multiple homes and properties, valuable belongings, wide-reaching and international investments, professional practices and businesses, retirement accounts, and other assets. Our high-asset divorce team will do everything possible to ensure a fair distribution.
What is a high-asset divorce?
A high-asset divorce involves substantial assets, financial holdings, and wealth. The combined value of a couple’s estate usually exceeds a specific threshold, which makes the divorce more time-consuming and complex. An Illinois high-asset divorce attorney will help guide and protect you throughout these proceedings.
Why should I use a high-asset divorce attorney?
High assets divorces are complex and involve valuing various financial assets, identifying hidden assets, and safeguarding your interests. A skilled high-asset divorce lawyer protects you and helps you to navigate the various legal complexities to create favorable outcomes.
How are high assets divided in divorces?
Typically, the assets are split by the courts in a manner they think is fair, but other factors, such as a prenuptial agreement, could come into play. A prenuptial agreement is signed by both parties before the marriage. It states that they agree to accept a certain amount in the event of a divorce. Unless you can prove wrongdoing, the prenuptial agreement is used to split the assets. Otherwise, these assets are divided using the determination of the courts.
Do I have to go to court for a high-asset divorce?
Our team of skilled attorneys works to avoid litigation by using other forms of dispute resolution, such as negotiations. We negotiate on your behalf to create a favorable settlement without going to trial.
Illinois has many divorce lawyers; you should choose one you can trust who has the experience needed to handle these cases. At Wolfe & Stec, Ltd., we are committed to providing the highest quality legal representation, have substantial experience in contested family law matters, and are aggressive in protecting our clients’ rights and assets. At the same time, we focus on preserving relationships, which is often essential when divorcing spouses need to continue working in the same business or industry or for co-parenting.
Here are some reasons you should choose our high-asset divorce attorney in Woodridge.
Our high-asset divorce attorney in Woodridge understands that when people have more to lose, they are more apt to have conflicts and less likely to compromise. As a result, we strive to find a balance between vigorously protecting our clients’ rights while preserving relationships and avoiding additional conflict.