Complex Property Division Attorneys Chicago
Complex Property Division Attorneys Chicago
Most divorces have some degree of complexity, but some have substantially more than others. Divorces involving complex property division are one of them. Asset division is often a contentious issue during divorce proceedings, and when a complex property is involved, a divorce can become extremely intense. In these cases, it’s crucial to have experienced complex property division attorneys in Chicago on your side.
Divorce and Property Division
Nearly all divorces must address the issues of property and debt division. No matter if a couple has only been married a short time and doesn’t have many assets or has been married for decades and has substantial assets, no one is exempt from this divorce matter.
Illinois law supports the equitable distribution of property in a divorce. However, equitable doesn’t always mean equal. Judges will consider many factors when dividing property, such as each spouses’ contributions to the marriage, how long they were married, and their individual economic circumstances.
First, assets must be categorized as separate or marital. Separate property is generally property that one spouse owned prior to the marriage or received as a gift or inheritance. That property isn’t subject to equitable distribution. Marital property is acquired after the marriage occurred and must be divided in a divorce.
What is Complex Property in a Divorce?
Also known as a high-net-worth divorce, a complex divorce is one that includes significant assets or high-income of one or both spouses. These types of divorces require in-depth legal knowledge and experience. If your divorce involves any of the following, you’ll want to hire skilled Chicago complex property division lawyers:
- Professional partnerships, a closely-held family business, or other assets necessitating valuation
- Real estate, business entity ownership, employee contracts, and benefit plans, or highly valued collections
- Financial holdings that need a comprehensive forensic assessment, or the character of the property is in question
- Significant debt distribution, tax implications, or intangible property
- Assets or investments in other states or countries
- Exposure risks or the potential to owe substantial spousal support
- Combative or dramatic behaviors of a spouse
Complex property division attorneys in Chicago have a network of professionals they can rely on to help in complex divorces. Depending on the specifics of the divorce, these experts might include:
- Appraisers
- Vocational experts
- Forensic accountants
- Business valuation experts
Without an attorney who is well-versed in complex divorces and these experts, you may not get what you are legally entitled to receive in your divorce.
Contact Complex Property Division Attorneys in Chicago Today
Divorce is final and with long-term implications. It is critical to ensure that you have an attorney that understands intricate financial matters and knows how to resolve them effectively. The family law attorneys at Arami Law, Inc. know that there is much more at stake in a complex divorce. Whether your estate is big or small, we are devoted to providing our knowledge and resources to resolve all divorces in a timely and efficient manner. Contact our Chicago complex property division lawyers today to schedule a private and confidential consultation.
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