High Net Worth Divorce Lawyer Lake Forest, IL
Nobody is ever really fully prepared for a divorce, but a high net worth divorce lawyer in Lake Forest, Illinois, can help you make sense of your situation. Unfortunately, many people willingly ignore the signs that their marriage is headed for a divorce, and they may stubbornly assume that their spouse will finally come around at the last second. This mindset means an unpleasant surprise when divorce papers are finally served, and a panicked rush to get the best legal representation possible on short notice.
Being prepared for the worst case scenario means looking for warning signs well in advance, and knowing that you’ll have the best legal team at your back if and when you and your spouse ever decide to follow through with a divorce. It may be difficult to accept that you may go through a divorce, but it doesn’t mean you should make the process harder on yourself. It’s possible for a divorce to go smoothly – it’s up to you and your high net worth divorce lawyer in Lake Forest, IL to make sure it does.
Do You Know the Cost?
Don’t get too comfortable: Many divorces are incredibly bitter and complicated procedures. During divorce proceedings, everything that you have ever shared with your spouse – or built up for yourself over the course of your marriage – is suddenly at risk. Many people immediately think of their income, and how much of their pay will be taken as child support or spousal support.
However, a divorce isn’t just about paychecks. It’s about existing assets, too. If you and your spouse owned any real estate, such as vacation homes or rental properties, it’s fair game. The same applies to cars, collections, businesses and everything else that can be awarded to one party or another. Your hard-earned cash is a prime target in a divorce, but you should never underestimate the greed that can factor into these oftentimes emotionally-charged proceedings. Everything you have worked hard to make for yourself is up for grabs – unless you have a qualified divorce lawyer on your side.
About High Net Worth Divorce
A divorce qualifies as a “high net worth divorce” if you own over $1 million in assets. This only adds to the dangers of a divorce, because it means you have more assets to lose. It’s important to remember that in any divorce, the assets owned by you and your spouse are (often unequally) split up, and if you’ve failed to prepare properly, you could be left with nothing. It was hard enough to start from square one before the divorce – how challenging do you think that would be if you also had to make monthly spousal support payments?
Fortunately, a qualified high net worth divorce lawyer can provide the important information needed for you to safely navigate your divorce with minimal losses. At Hurst, Robin, Kay & Allen, LLC, we understand how complicated a divorce can be and that you have assets worth protecting. We work closely with each of our clients to ensure their divorce proceedings go as smoothly as possible, every step of the way.
Don’t let a divorce ruin your life. Contact Hurst, Robin, Kay & Allen as soon as you can, and get in touch with a high-net-worth divorce lawyer in Lake Forest, IL, today.
Not every couple in Illinois who goes through a divorce wants to get divorced in court. Many couples decide to opt to start their divorces in a process known as a collaborative divorce. The goal of the collaborative law process is to settle disputes without going to court, and it is supposed to focus on the parties’ needs and interests. This process may appeal to couples who want to keep their divorce low-conflict, especially if they have children and will continue to co-parent after a divorce. If you are considering this type of divorce process, a high net worth divorce lawyer in Lake Forest, IL from Hurst, Robin, Kay & Allen, LLC can help.
Collaborative Divorce Process
If a couple is considering using the collaborative process, it is best to engage attorneys trained in it who can advise and guide them more effectively. As part of the collaborative process, the people getting divorced are individually required to sign a participation agreement.
Under the Illinois Collaborative Process Act, as part of the agreement, the parties are required to identify the attorneys they have chosen to use in the process and to agree to dismiss those attorneys if the collaborative process fails. If this happens, the parties must retain new counsel to proceed with the divorce through litigation in court.
In the collaborative divorce process, a Lake Forest, IL high-net-worth divorce lawyer may also engage a team of professionals across various fields to assist the couple with issues that may arise during the divorce’s finalization. These professionals include child specialists, financial specialists, and divorce coaches. Some of the issues the professionals assist with include parenting responsibilities and time-sharing, as well as the financial aspect of equitably distributing the marital assets.
A divorce worked out through the collaborative process is just as valid as one litigated in court. A judge enters a final order dissolving the marriage in each case. One of the key differences is that the resolution of most issues is per the parties’ agreement, not a result of the judge making a decision based on the parties’ arguments.
The collaborative process is completely voluntary, and a judge cannot order the parties to participate if they do not want to. Along the same lines, one spouse cannot force another to go through the process. Both spouses may discontinue the process and proceed with litigation if they are dissatisfied with the collaborative law process.
A collaborative divorce is not for everyone, and in some cases, the best interests of the parties may be served by going through litigation. If you are interested in the collaborative process, it is important to seek out a practitioner who can guide you through the process.
Contact Our Law Firm Today
If you are considering separating or filing for a divorce, contact an experienced high net worth divorce lawyer in Lake Forest, from Hurst, Robin, Kay & Allen, LLC, for a consultation on the divorce process and the legal options available to you for ending your marriage.
