Property division can become extremely complicated fairly quickly when certain factors are present. If you do not work with a Chicago divorce lawyer who is experienced in complex property division, you may lose out on a fair share of assets that should be rightfully yours. At Arami Law, our attorneys will provide aggressive legal representation in order to protect your legal and financial interests throughout the duration of your divorce.
There are several factors that will affect the outcome of your Illinois divorce settlement, including the duration of your marriage, whether or not you or your spouse (or both together) own a business, and whether or not yours is a high asset divorce case.
The duration of your marriage will significantly affect the outcome of your divorce if your marriage was of considerable length. Individuals who are married for a long period of time collect considerable assets together, such as property, land, retirement savings, and investments. Moreover, long-time married couples tend to have a number of diverse property holdings and interests that are difficult to value, such as employee stock options, investment portfolios, and private healthcare practices.
Business ownership by either or both spouses poses additional complications. If both spouses own the business together, they must accurately value the business before they can determine what to do with it. More often than not, the couple will choose to sell the business and its assets and split the profits. Another common scenario is when one spouse buys the other out.
If one spouse owned a business, things become a bit more complicated. In Illinois, the judge will consider each spouse’s contribution to the marriage (not necessarily financially speaking) and determine how much, if any, share of the business the non-owner will get.
High asset divorces generally include such complex properties as:
A skilled Chicago divorce lawyer will enlist the help of financial professionals such as forensic accountants and real estate appraisers for additional aid in the valuation of your assets and to ensure that your financial interests are protected.
The divorce lawyers at Arami Law have successfully dealt with a number of complex property division divorce cases in Chicago, Cook County, and throughout the state of Illinois. If you suspect that your divorce will be complex in any way, reach out to an experienced attorney will support you throughout the duration of your divorce and protect your best interests at the same time. To schedule a consultation with one of our family law attorneys, contact our law firm today online or by phone at 312-212-1399 to set up your appointment.
We can meet with you at our office or discuss your case with you over the phone. We pride ourselves in our accessibility and make certain to help each and every client in a timely manner.
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