High Net Worth Divorce Attorneys in Chicago

Although any type of divorce will involve some risk factors and financial consequences, the stakes in a high-asset divorce are generally greater. Below are some noteworthy risk factors involved in a high net worth divorce:

• Separate vs. marital property: In any divorce, all marital property will end up on the chopping block, subject to division. In a high net worth divorce, it is sometimes challenging to identify separate property, to ensure an equitable distribution.
• Businesses: If you own a business with your spouse, it will require professional valuation. The tax consequences of splitting a business can have a far-reaching impact on spouses.
• Spousal support: How much spousal support you pay, receive, or how long it lasts will vary depending on the specific circumstances of your case, including property division.
• Executive compensation: It is common for stock options and other executive compensation to account for a substantial portion of marital property. However, it can complicate matters, which is why expert involvement is necessary.

Other Considerations in a High Net Worth Divorce

If you are going through a high-asset divorce, you might encounter numerous other obstacles during the process. Although some of these issues are common, they are typically more difficult for spouses to field their way through in a high net worth divorce.

Here are some additional considerations you might deal with:

• Retirement assets
• Real estate holdings
• Trusts
• Assets owned outside of the country

Moreover, if you and your spouse have kids together or from another relationship, the process of dividing property might become even more contentious, especially there is something you specifically wish your children to inherit.

Discuss the Details of Your High Net Worth Divorce Case

If you and your spouse have a substantial number of assets and wish to dissolve the marriage, you will need an experienced law firm on your side to ensure your interests are protected. At the Law Offices of Jonathan Merel, P.C. in Chicago, our knowledgeable team of attorneys – lead by our partners Jonathan Merel, Melissa Caballero, Aurelija Fitzpatrick, David Zwaska, and Bradley R. Kaye – has what it takes to guide you through the divorce process and will fiercely represent you in court if necessary.

Get started on your divorce today! Contact our law office at (312) 487-2795 to set up a consultation.