Protect Yourself In A Divorce With Our Glenview, IL High Net Worth Divorce Lawyer
A divorce between spouses with a combined high net worth (at least $1 million in assets, income, and investments) can quickly get contentious, especially if there isn’t a pre- or post-nuptial agreement. Illinois is not a community property state for divorce, which means that a family law judge will divide debts and assets equitably, not equally. Determining what property counts as community and which remains separate (and debts, too) greatly impacts the divorce settlement and your future prospects. If you have a high individual net worth and you want to preserve it, or if your spouse has a high personal net worth and you’re worried about not getting a fair share of the combined property, you need a strong legal advocate by your side. Our Glenview, IL high net worth divorce lawyer can help protect your interests, advocate for you in mediation and court hearings, and even represent you in conversations with your spouse.
The divorce attorneys at Hurst, Robin, Kay & Allen, LLC, represent your interests and yours alone. Our firm has considerable resources to help you get your fair share of a divorce and ensure you have the means for a bright future. Please call us today to schedule a strategy session.
Protecting Your Fiscal Interests In A Divorce
Even if both spouses have similar earning power, came into the marriage from similar financial places, or have an existing marriage contract (prenup or post-nup), there may still be complications in an Illinois divorce because marital assets and debt aren’t split 50/50. You are entitled to an equitable share of the money, investments, property, real estate, and other assets you and your spouse accumulated during your marriage, and possibly spousal support, too. However, we have seen time and again that our client’s idea of an equitable share of marital assets and their soon-to-be-ex’s idea of an equitable split is often very different. We’re committed to your interests, not your spouse’s, and fight to ensure your divorce settlement aligns with your goals.
We’re meticulous in our investigation, often employing the services of forensic accountants and financial experts to determine the full extent of your spouse’s holdings. We can negotiate a fair settlement out of court with your spouse or advocate for you in mediation. Many of our clients are anxious to avoid the expense, stress, and public exposure of a trial. If we negotiate a settlement out of court, the terms are private. If your case goes to trial, though, all proceedings become a matter of public record. We want to protect your privacy and your finances.
We Protect Your Assets In A High Net Worth Divorce
If you and your spouse have a high combined net worth, if you’re a high earner but your spouse isn’t, or if you gave up your career to raise your family and help your spouse succeed, you need strong legal advocacy. The divorce lawyers from Hurst, Robin, Kay & Allen, LLC, are here to help. As your Glenview high net-worth divorce lawyer, we help protect everything you’ve worked so hard for. You deserve to be treated fairly during the divorce and are entitled to your fair due in the settlement. Call us today for a personalized consultation.
Key Factors In A High Net Worth Divorce
Divorces involving significant assets require careful attention to financial and legal matters. When substantial wealth is at stake, planning and organization help protect financial interests while working toward fair resolutions.
Asset Valuation And Division
Determining the value of assets is one of the first steps in the process. This includes real estate, business interests, investments, and valuable personal property. Accurate appraisals are necessary to prevent disputes and allow for equitable distribution.
Illinois follows equitable distribution laws, meaning property is divided fairly, though not always equally. A Glenview high net worth divorce lawyer can help structure settlements that align with long-term financial goals while considering tax implications and future income streams.
Business Ownership Considerations
For individuals who own businesses, divorce proceedings can impact operations, ownership, and future profitability. Whether a business is jointly owned or operated by one spouse, legal agreements and financial records play a critical role in determining how it will be treated in the divorce.
Proper business valuations and assessments of income are necessary when negotiating settlements. If both parties have a stake in the business, discussions on buyouts or restructuring may be needed to maintain financial stability.
Hidden Assets And Financial Transparency
Full disclosure of financial assets is essential for a fair resolution. In some cases, one party may attempt to conceal assets, undervalue holdings, or manipulate financial records. Identifying hidden income sources, offshore accounts, or undisclosed investments is an important part of protecting financial interests.
We work with financial professionals who can trace assets and analyze financial documents to uncover any discrepancies. A Glenview high net worth divorce lawyer can help address these challenges and advocate for a clear and accurate assessment of shared wealth.
Spousal Support And Lifestyle Considerations
When a couple has maintained a high standard of living, spousal support becomes an important factor. Courts consider income levels, earning capacity, and future financial stability when determining support payments. It is important to assess how assets, investments, and income will sustain both parties post-divorce.
Negotiating fair support agreements helps prevent future disputes and financial strain. We guide clients through the process of structuring agreements that reflect current and future financial needs.
Legal Agreements And Asset Protection
Many high-net-worth couples have prenuptial or postnuptial agreements in place. These legal documents outline how assets will be handled in the event of a divorce. Reviewing these agreements and ensuring they are legally enforceable is a necessary step in protecting personal and business assets.
If no agreements exist, negotiating settlements that minimize financial risk is crucial. Legal counsel helps structure agreements that provide long-term security and financial stability.
Taking The Right Steps
A well-planned approach to divorce can make a significant difference in the outcome. At Hurst, Robin, Kay & Allen, LLC, we work closely with clients to develop legal strategies that align with their financial interests.
If you are preparing for a divorce involving substantial assets, now is the time to seek legal guidance. Contact a Glenview high net worth divorce lawyer to discuss your options and take the first step toward a resolution that protects your future.