Naperville High Asset Divorce Lawyer

Attorneys for Divorces Involving High Net Worth and Premarital Assets in Will County and DuPage County

Every divorce case can seem complicated to those who are involved, since separating your life from your spouse is rarely an easy process. Therefore, many couples need to deal with complex divorce issues involving high-value assets and other financial concerns. In these cases, it is important to work with an experienced divorce lawyer who can help you determine the full value of the property you own, understand your rights regarding ownership of your marital assets, and reach a settlement that will protect your financial interests and provide for your ongoing needs.

At the Law Office of Ronald L. Hendrix, P.C., our attorneys will work with you to address matters related to your finances and property, ensuring that you will be prepared to meet your financial requirements once your divorce is complete. With more than 35 years of combined experience, we know the legal issues involved in these situations, and we can provide you with the representation you need to help you achieve a positive outcome to your case.

Addressing High-Value Assets During Divorce

During the divorce process, you and your spouse will need to divide your marital property fairly and equitably. If you have a high net worth, this process can be complicated by determining what is and is not marital property, which is not always a straightforward task. Any assets or debts acquired during your marriage are considered marital property, and assets owned by either you or your spouse before you got married are usually considered non-marital property that is not subject to division. However, marital and non-marital property can sometimes become commingled or mixed, making the process of dividing this property more complex.

Some types of marital property that may need to be addressed in a high net worth divorce include:

• Businesses and professional practices - Business interests owned by either spouse will be considered marital assets if a business was founded or acquired while you were married. However, even a non-marital business acquired by one party prior to the marriage may be considered when dividing marital property if the business grew or gained value during the marriage. Typically, a business valuation will need to be performed to determine how to address ownership of these types of assets.
• Real estate - You may need to make decisions about your marital home, vacation homes, or other real estate property your own. If property was purchased during your marriage, it will usually be considered a marital asset. If one spouse owned a house before getting married, it may be considered non-marital property, but the other spouse may need to be reimbursed for any contributions that increased the value of the home.
• Investments and retirement accounts - If you and/or your spouse earn a large income, you may have made significant investments, and you may have earned retirement benefits. Investments such as stocks and bonds will typically be considered marital property if they were acquired during your marriage. Retirement accounts such as 401(k)s or IRAs or pension benefits earned during your marriage will also usually be considered marital assets, and you and your spouse will need to determine how to divide these assets fairly.
• Stock options and restricted stock units - During your marriage, you and/or your spouse may have been awarded stock options or restricted stock units (RSUs) from an employer. Typically, these awards are vested in incremental amounts to the recipient over a period of continued employment. Whether vested or unvested, these stock options or RSUs, if received during the marriage, are marital assets. If your spouse is in a high level position, you should know whether stock options or RSUs were awarded and how you may be eligible to receive a portion in the final marital settlement.
• Deferred compensation and bonuses/commissions - If you and/or your spouse received deferred compensation during your marriage, it is a marital asset. Even if the deferred compensation will not be paid until after the divorce is final, the deferred compensation needs to be considered in the overall division of the marital assets. Furthermore, the receipt of bonuses or commissions following the divorce may be figured into the payment of child support and spousal maintenance.

Contact a DuPage County High Net Worth Divorce Attorney

If you and/or your spouse own significant assets, determining which assets are marital or non-marital property can be a complex task. However, you will want to be sure to address these issues properly, since the decisions made during your divorce will affect your ongoing financial security. Our divorce lawyers can help you resolve these issues successfully, and we will work to ensure that your divorce settlement will meet your needs. Contact us today at 630-355-7776 or 815-722-7050 for a free consultation. We represent clients in Will County, Kane County, DuPage County, and Kendall County, including Plainfield, Naperville, and Bolingbrook.