Chicago High Net Worth Divorce Lawyers
Experienced Chicago Divorce Attorneys Helping High Net Worth Clients with Complex Property Division and High Value Marital Estates
The size of a marital estate has little bearing on the emotional consequences of a divorce; however, the process can become decidedly more complex when substantial assets are involved.
When divorcing individuals have a high net worth or a substantial marital estate, the division of property can become complicated and contentious, with disputes arising frequently. It’s not uncommon for these high net worth individuals to have marital estates that include real estate holding, business interests, complex trusts, investments, retirement accounts and international assets. The addition of these types of assets can severely complicate divorce proceedings involving individuals with high net worth, making an equitable division of marital assets challenging.
At the Hoffenberg and Block LLC, our high net worth divorce attorneys in Chicago have many years of experience assisting clients with complex, high value marital estates to achieve a favorable division of property in a divorce.
If you are considering divorce and you or your spouse owns a business, professional practice, retirement assets, real estate holdings or other significant assets, it is important to consult with a Chicago high net worth divorce attorney who is qualified to assist in these matters.
At Hoffenberg and Block, our attorneys have significant experience handling high net worth divorces and complex marital estates for clients throughout the Chicago metropolitan area, including Cook, Lake, DuPage, Will and McHenry counties in Illinois. We offer comprehensive, results-driven divorce representation that is focused on preserving our client’s assets and securing their post-divorce future.
Our award winning divorce lawyers can assist you with a wide range of legal and financial issues as we guide you through the divorce process. In a high net worth divorce with substantial assets in play, it is especially important that matters involving property division and equitable distribution are handled with the utmost care and attention to detail.
The equitable distribution of property can become fiercely contested and challenging to resolve in divorce cases with high value assets. Our high net worth divorce attorneys will work to divide property in a manner that is fair and equitable. A creative approach to the division of property is often required to achieve an acceptable settlement agreement.
Often times, we will engage the services of, and incorporate the opinions of, a variety of well-respected industry experts. Forensic accountants can help uncover hidden assets, business evaluators can assess commercial holdings and vocational experts can help determine whether support should be awarded to a non-working spouse.
High-asset divorces can also involve the determination of value and distribution of business assets. The attorneys at Hoffenberg and Block represent clients whose marital estates included professional practices, commercial businesses, financial services companies, retail enterprises, manufacturing concerns and international assets.
In some cases, our attorneys are able to perform business valuations in house, without going through the expense of hiring an outside professional. Our financial and business knowledge allows us to determine the present value of a business and communicate this information in a manner that a judge will find meaningful.
Some assets, such as real estate, art collections, jewelry, specialty automobiles and prized antiques can have both financial and sentimental value. Our attorneys are skilled at determining the full value of these assets and making sure that our clients receive their full and equitable share.
Our attorneys provide comprehensive representation for individuals engaged in contested matrimonial proceedings where significant assets, investments or business interests are involved. Our unique ability to identify and examine the key elements in proceedings involving high net worth individuals gives our clients the advantage in asset preservation and the protection of their financial interests.
Our firm has access to leading experts in business valuation, forensic accounting and other fields who can help identify and value assets in divorce cases involving assets of substantial value. We are prepared to identify, examine and address a broad range of issues that can surface in a high asset divorce, including:
It is not uncommon for the income of one or both spouses to suffer an unexplained reduction when a divorce is imminent. When a person’s income falls below his or her earning potential or certain income is not clearly known and does not show up on paper, the courts may impute income to that person. By imputing, the court is essentially increasing the person’s reported income to the level of “earning potential” when calculating child support and/or spousal support.
Imputing income is one of the many issues our legal team can help you understand as we navigate you through the divorce process involving high-value assets.
If you need legal representation for a high-asset divorce or complex marital estate in the Chicago area, including Cook, Lake, DuPage, Will and McHenry counties in Illinois, we are here to help.