Hinsdale High Asset Divorce Attorney

Helping Clients With High Asset Divorces In DuPage, Cook, Will, Kane, and Lake Counties

High-asset divorce can be highly complex. Spouses who share significant marital assets often experience challenges when dividing assets that are profitable or have fluctuating value. Complex assets may require innovative strategies to divide equitably. High-asset couples are also more likely to litigate their divorces, although alternative dispute resolution can lead to more creative and flexible solutions than a court decision might. If you and your spouse have a highly valuable marital estate, it is important to be represented by the right law firm.

CG Law LLC is uniquely experienced in high-asset divorce. Our attorneys have helped numerous spouses address issues related to high net worth and resolve their divorces both in court and out of court. We offer innovative solutions for dividing complex assets, and we are skilled in assisting with mediation and litigation alike.

Complex Assets and Solutions for Dividing Them

Assets that may be challenging to divide equitably include:

• Businesses and professional practices - A business may be a marriage's most valuable asset if it is turning a profit. The increased value of a business during the marriage may be a marital asset even if one spouse owned the company before marriage. Profits that were contributed to marriage may also be marital property, even if a business was separately held. Spouses who co-own a business will have decisions to make about whether and how the company will continue to operate.
• Stock portfolios - The value of a stock portfolio is constantly in flux. Spouses may need to choose a solution such as dividing the current value and selling the stocks or splitting the portfolio into two sections of approximately equal value.
• Retirement accounts - 401(k)s, IRAs, and other types of retirement assets are mixed assets that may have both pre-marital and post-marital portions. Determining how to divide the funds in these accounts and how to have them properly valued is especially important in divorce.
• Rental properties - If you own property that you rent out for profit, you will need to determine how to divide the value of these properties. There are several strategies for dividing rental properties.

Spousal Maintenance in High-Asset Marriages

In some families, one spouse may be able to dedicate their time to taking care of the household and children rather than working for pay. When one spouse is a homemaker, that spouse may need spousal maintenance in order to maintain a similar lifestyle after the divorce. Our attorneys will work to ensure that if you are entitled to maintenance, you will continue to enjoy financial stability.

Protecting Separate Property During Divorce

There are some types of personal property Illinois law designates as non-marital and therefore not subject to division in a divorce. The following types of assets may be yours personally after your divorce:

• Inheritances - Family wealth is generally meant to remain with family members, not with their former spouses. If you received an inheritance designated for you during the marriage, it may remain your separate property.
• Gifts - If you received gifts that were meant for you personally rather than for your family, such as luxury clothing or gifts of money from family members, your spouse may not have a claim to those funds.
• Pre-marital assets - Assets you owned before you got married are likely non-marital assets.
• Lawsuit winnings - If some of your money comes from a personal injury lawsuit, and you were the injured party, your spouse may not be entitled to a portion or even all of those funds.

Complications can arise if any of these types of assets were commingled with marital funds or used for marital purposes. Your attorney can help you take steps to maximize the value of your non-marital estate.

Contact a Chicago, IL High-Asset Divorce Attorney

CG Law LLC is highly experienced in helping high-asset spouses maximize their post-divorce holdings. Our dedicated, women-owned, Chicago high-asset divorce attorneys will strive to ensure a fair division of property. Contact us at 312-884-9012 for a complimentary consultation.