Any divorce can be a complicated legal process. When the divorcing couple has a high net worth, the breakup will likely be more difficult as they seek to equitably divide the property. High asset divorces take time to resolve and have a greater chance of ending up in court. The right high asset divorce lawyer in Chicago could protect your legal interests while working towards a resolution of your case.
A couple with a high net worth has assets in various places that require equitable division. They include:
Beyond the sheer numbers, these divorces can also present challenges in locating and valuing the assets in the marital estate. High net worth divorces are usually much more than simply gathering all the account statements and dividing the assets. Two of the keys to obtaining a successful result and preparation and information. You need a high asset divorce attorney who does their homework.
First, you may need a business valuation expert to figure out a value. Asset valuation is often a matter of dispute between the parties, with each spouse coming to their own conclusion on how much something is worth.
Then, you may need a forensic accountant to be certain that the other spouse has disclosed all the assets. Finally, you would need the help of an accountant to figure out how the implications could affect your position. As you can see, this can be a time-consuming process with multiple areas of dispute to be resolved.
Each case may involve special circumstances. Some particularly challenging issues could include:
When it comes to a high asset divorce, equitable distribution does not necessarily mean equal. Both spouses will likely see their equitable shares differently, and there may be some work necessary to bridge the gap. We represent our clients vigorously, negotiating for your interests and fighting to protect them.
When dealing with a high asset divorce, you need a multidisciplinary legal team that can work with various experts as necessary in devising an overarching legal strategy to resolve your case. You also need an attorney who is ready, willing, and able to litigate your case if you cannot reach an equitable settlement agreement. At WARD FAMILY LAW, LLC, we can negotiate, mediate and litigate based on what your own individual case requires. We understand your need for privacy and discretion and will tailor our approach to your specific circumstances. Each case requires different legal measures, and we focus on the entire picture in providing you with advice.
At WARD FAMILY LAW, LLC, we are experienced attorneys who can handle difficult divorces. We work with you every step of the way, from the moment you come in the door until your divorce is final. Contact us to schedule your initial consultation. When significant assets are involved, you need legal counsel as early as possible.
I knew we were going to have a custody battle from day one. It was going to be mean and messy and expensive and long. I did not know if I could handle it but I had to do it for my kids. Jennifer litigated my case to the end - we had an attorney for the kids, we had psych evaluations, we had reports for the Judge, we had court date after court date. She was strategic, smart, planned well ahead, and kept on top of everything. Thanks to her and her legal eagles my kids are in a…
We were not married but had two kids and we were both listed as the parents on the birth certificates. What I did not know at the time was that the birth certificate (for parents who are not married) does not count in Chicago! You have to have a paternity test or have signed some special paperwork at the hospital that we did not know about at the time. Ward Family Law prepared the court filings so that we could establish our parental rights. Thank you!
At the end of my divorce case I realized that the paperwork required us to provide the court with a Qualified domestic relations order (QDRO) in order for our retirement and investment accounts to be divided as we had agreed. The problem was that we did not have them done in time. Jennifer and her team stepped in and handled contacting the plan administrators, completing the draft QDROs, submitting them for pre-approval of everyone and then presenting them to the court. While we had hoped this was super easy there were a lot of steps and a lot of things…
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