Oak Park High Asset Divorce Lawyer

Attorneys for High Net Worth and Complex Divorce Cases in Chicago and Cook County

Ending your marriage is likely to be a complicated process, even if your divorce is uncontested and you and your spouse are able to work together amicably. However, if you have a high net worth, the divorce process can become much more complex, and you may be overwhelmed by the avalanche of legal issues and financial concerns that you are facing. By working with an experienced lawyer, you can ensure that these matters are handled properly.

At Wakenight & Associates, P.C., we will put more than 95 years of combined legal experience to work for you throughout your divorce case. We can help you address complex financial issues, ensuring that your rights are protected and that you will be prepared for success in the next stage of your life.

Common Issues in a High Net Worth Divorce

In divorce cases involving large incomes or valuable assets, our attorneys can help you work with forensic accountants or other experts to gain a full understanding of your finances. During your divorce, you may need to address some or all of the following concerns:

• Division of Marital Property - Spouses with a high net worth will likely own significant assets, and any property acquired during the marriage should be equitably divided during divorce. This includes complex assets such as real estate properties and retirement funds and investments. It is also important to be aware of the potential for hidden assets or asset dissipation. 
• Spousal Support - One spouse may be eligible to receive financial support (typically known as spousal maintenance or alimony) from the other that will ensure that they can maintain the standard of living which they enjoyed during their marriage. However, determining the amount of spousal maintenance payments may be left up to a judge's discretion if a couple earns a combined annual income of over $500,000.
• Child Support - The amount of financial support parents are obligated to provide for their children is based on the income earned by both spouses. However, calculating support obligations can be complex when either spouse earns a large income, and parents should also be prepared to address other expenses for children, such as extracurricular activities or college tuition.
• Business Valuation - Business interests owned by either spouse are valuable assets that may be subject to division during divorce. Owners of family businesses will likely want to understand their options for ensuring that their business can survive the division of marital assets.
• Tax Concerns - It is important to understand how divorce will affect income tax issues such as filing status, deductions, exemptions, and credits. Spouses should also be aware of the potential tax consequences that can occur when dividing or selling marital property.

Contact Our Skokie Complex Divorce Attorneys

When you and your former partner have a high net worth, gaining a full understanding of your financial picture can be difficult. At Wakenight & Associates, P.C., we can enlist the help of experts such as accountants or appraisers to uncover all your assets, address tax issues, and determine the best way to handle matters in order to ensure that you will have the financial resources you need in your post-divorce life. Contact us at 708-480-9651 to schedule your free initial consultation. From our Oak Park law office, we assist with high asset divorce cases in Chicago, Riverside, Maybrook, Berwyn, Forest Park, Cicero, River Forest, Elmwood Park, Skokie, and Cook County.