• Chicago Downtown Office
    • 20 N. Clark Street, Suite 3300 Chicago, IL 60602
  • Northbrook, IL Office
    • 5 Revere Drive, Suite 200 Northbrook, IL 60062
Anderson Boback & Marshall Logo
high asset divorce

High Asset Divorce Lawyers

Chicago High Asset Divorce Attorneys

Looking for Fearless Legal Representation to Protect Your Interests When Dividing Complex Assets in Divorce?  We’re Here For You.

A divorce is already emotional and becomes much more complex and contentious when a wealthy couple is facing a high asset divorce. If you and your spouse have accumulated assets that include a business or businesses, investments, retirement accounts and pensions, real estate holdings or other high net worth assets, your divorce process can easily become complicated. If not handled properly, the financial implications will be significant.

If you’re in Chicago, it is vitally important to work with a skilled divorce attorney in Chicago with significant experience handling high net worth divorces to protect your assets. Your financial future depends on it.

You have enough to deal with maintaining your business or career, raising your children and caring for the home rather than risk your financial future with the wrong divorce attorney. Let the savvy and experienced attorneys at Anderson Boback & Marshall help you develop a plan for a successful settlement of your high asset divorce.

High Net Worth Divorce Lawyer Experienced in Complex Cases

Working with a high net worth divorce lawyer will help to develop a property division settlement that is fair, equitable and best for you.  Anderson Boback & Marshall attorneys provide the experienced representation you need in a complex divorce involving high-value assets. We conduct a thorough interview and listen to your concerns to strategize the best possible approach to reach a divorce settlement agreement that you deserve.

Our high net worth clients benefit from our well-established relationships with forensic accountants and actuaries that know how to properly evaluate a myriad of assets. We know the importance of providing professional business valuation and accounting services from industry experts to develop a fair and equitable property division settlement in a timely and cost-efficient manner.

High asset divorces involve complex financial considerations and unique challenges compared to divorces with fewer assets. Here are some frequently asked questions (FAQs) about high asset divorces:

A high asset divorce typically involves significant financial holdings, including real estate, investments, businesses, and valuable personal property. There isn’t a specific dollar amount that defines a high asset divorce, but it generally refers to cases where the couple’s wealth is substantial.

Property division in high asset divorces can be intricate. It often requires a thorough valuation of assets, including real estate, businesses, investments, and intellectual property. Equitable distribution principles are applied, but negotiations may involve various assets and liabilities.

Prenuptial or postnuptial agreements are crucial in high asset divorces as they can specify how assets are divided in the event of a divorce. Courts typically uphold these agreements if they are properly drafted, fair, and executed willingly by both parties.

In general, assets acquired during the marriage are subject to division. However, there may be exceptions for inheritances, gifts, or assets protected by a valid agreement. Determining what is considered marital property can be complex, especially when assets are commingled.

Business assets are often a significant concern. The valuation of a business may require the expertise of financial professionals. Options include selling the business and dividing the proceeds, one spouse buying out the other, or continuing joint ownership in some cases.

Spousal support, also known as alimony, may be more common in high asset divorces, especially if there is a significant income disparity between the spouses. The duration and amount of spousal support can vary based on factors like the standard of living during the marriage, the length of the marriage, and each spouse’s financial situation.

Tax implications play a crucial role in high asset divorces. The way assets are divided and the terms of financial settlements can have significant tax consequences. Professional advice is often sought to optimize tax outcomes.

Concealing assets is a serious issue. Forensic accountants may be employed to uncover hidden assets, and courts can penalize individuals who attempt to deceive the process.

High asset divorces can take longer than standard divorces due to the complexity of financial issues. The time frame varies depending on factors such as the willingness of the parties to cooperate, the court’s docket, and the complexity of asset valuation.

Consulting with experienced attorneys and financial advisors is crucial. Consider having a prenuptial or postnuptial agreement in place. Open communication and negotiation can also be key to reaching a fair settlement without unnecessary legal battles.

Remember, legal advice should be sought from qualified professionals based on the specific details of each case. High asset divorces require careful consideration and strategic planning to ensure a fair and equitable resolution for both parties.

Divorce is Complicated, We Make it Easier

We focus on the financial details that are important for high net worth marriages, including:

  • Business Valuation and Division – Providing an accurate value on your family business is complex, and critical to receiving an equitable division during a divorce property settlement. You need an industry professional to help you determine the value of all company shares, and evaluate all tax implications of dividing a business in a divorce.
  • Strategies to Limit Tax Liability – There are tax implications of dividing properties, investments, and shares of a business. We inform you of any negative tax implications and help to limit your tax liability with professional analysis and professional tax planning.
  • Dividing Real Estate – Dividing real estate in a high asset divorce can have significant consequences. Accurate appraisals are required, as well as a thorough analysis of ongoing implications such as real estate taxes and any needed repairs or improvements. Dividing the marital home is typically 50/50 with couples selling the home and splitting the equity or one staying in the home and buying the other out. Vacation homes and rental properties may be treated differently and require professional guidance to protect your rights.
  • Separate Property Holdings – Property that either spouse came into the marriage owning or properties that are deemed separate by nature like gifts or inheritances should be specifically excluded from the marital assets and property division settlement.
  • Pensions, Retirement, and Qualified Domestic Relations Orders (QRDOs) – Pension benefits earned during the marriage are generally considered a joint asset, therefore the length of the marriage can affect spousal rights to pension benefits. Speak with an experienced high net worth divorce lawyer to ensure your pension is calculated correctly and for direction with any issuance of the proper Qualified Relations Order (QRDO), which recognizes the joint ownership of retirement accounts and direct benefits to the former spouse.
  • Stocks, IRAs, 401(k) and Profit Sharing Plans – when dividing stock investments be sure to consider the total number of shares rather than the dollar values as this may change with the market.

We are passionate about managing and preserving your family’s assets and bank account, and protecting your financial resources.

Anderson Boback & Marshall for Your High Asset Divorce in Illinois

We Take Your Case as High as It Needs to Go!

When you’re facing a high asset divorce in Illinois, you need professional legal representation to ensure you receive a fair and equitable property division settlement. Anderson Boback & Marshall partner with you from the beginning to help you through the entire divorce process including property division of a high asset and complex divorce.

We concentrate on family law in Illinois, working with our clients with an open line of communication to strategize and develop the best plan for the divorce settlement that you deserve.

Let Us Review Your Situation

Kimberly Anderson and Jessica Marshall

Anderson Boback & Marshall are recognized in the Chicago legal community for skillful negotiation and fierce litigation, protecting the rights and interests of our clients. Contact us today to achieve the settlement that you deserve for any complex or high asset divorce.

Was this information helpful?
YesNo
Messy Issues in High Asset Divorce Cover

Download our High Asset Divorce Guide today!

Get the information you need to smoothly handle potential messy issues that could come up in a high-assets/high net worth divorce.

Schedule a Discreet Consultation Today!

    APPOINTMENTS AVAILABLE AT OUR TWO CONVENIENT LOCATIONS

    Chicago Downtown Office

    20 N. Clark Street, Suite 3300 Chicago, IL 60602

    Northbrook, IL Office

    5 Revere Drive, Suite 200 Northbrook, IL 60062

    Firm Overview
    Anderson Boback & Marshall

    Anderson Boback & Marshall is a highly-respected, experienced Chicago family law firm, skilled in negotiation and litigation for divorce and other family law issues. With multiple offices in NorthBrook and Chicago Downtown, we make it easy for you to book an appointment in a location near you. Our family and divorce lawyers serve families in Cook County, Lake County, Will County, and DuPage County. Call Now 312-715-0870

    Grab A Copy of Our Free e-book Messy Issues In High Asset Divorce