High asset divorces in the Chicago area are extremely complicated, and it is critical to hire a divorce lawyer who has experience assisting clients with high net worth divorces under the Illinois Marriage and Dissolution of Marriage Act (IMDMA). A Chicago high net worth divorce attorney at Arami Law, Inc. can get started on your case today.
Many high net worth divorces in Chicago raise legal issues that do not come up in divorces in which the marital assets are substantially lower or limited. Common examples of high asset divorce issues include but are not limited to:
Hidden assets are a frequent problem in high asset divorces. When one of the spouses suspects that the other spouse is trying to conceal valuable property to prevent its distribution in the divorce case, it may be necessary to hire a forensic accountant who can uncover concealed assets. Assets can be hidden in overseas accounts, in business investments, and in “gifts” to friends or family members.
In every Chicago divorce case, including high net worth divorces, Chicago courts will divide marital property according to the theory of equitable distribution. With equitable distribution, the court will divide all marital property in a manner that the court decides is fair, or equitable, to both parties involved in the divorce case. In high asset divorces, just as in other divorce cases, the court will consider a range of factors outlined in the IMDMA to determine what an equitable distribution of marital assets and debts should look like.
Although courts use the same legal theory to divide assets in a high net worth divorce as in other divorces, there is often more complex property that must be divided. Examples of complex property that may require assistance from a specialist appraiser to provide valuations or a forensic accountant can include:
Do you need assistance with a high asset divorce? It is critical to work with a divorce lawyer in Chicago who has experience handling high net worth divorces. These types of divorce cases often have complications that do not arise in other kinds of divorces, and you will want to be sure that you have an advocate on your side who can work to ensure you receive a fair property settlement. One of the experienced Chicago high net worth divorce attorneys at our firm can assess your case today. Contact Arami Law, Inc. to learn more about how we assist clients with high net worth divorces in the Chicago area.
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