Tag Archives: high-asset divorce
Determining the Value of Real Estate in Divorce
The division of property in an Illinois divorce is based on the principle of equitable distribution. This means a court is not legally required to divide a couple’s marital property 50/50. Rather, if a couple cannot resolve any outstanding division of property issues on their own, a judge will make a “fair” distribution taking into account a number of factors. Of course, before the court can divideContinue reading
Common Mistakes in a High-Asset Divorce
Divorce is rarely easy in any situation. It can be even more challenging, however, when there are substantial amounts of money or valuable property involved. The complexities presented in a high-asset divorce can lead to months and, in some cases, years of complications as a single mistake can literally cost you millions of dollars. Unfortunately, many people in the midst of a high-asset divorce fall victim toContinue reading
Finding Hidden Assets in a Divorce
Property and asset division are two of the biggest issues that come with any divorce. Each partner contributed to the couple’s shared pool of assets, and when the couple decides to end their marriage, part of the process is to make sure these assets are divided fairly among the spouses. In Illinois, the Illinois Marriage and Dissolution of Marriage Act does not require that marital assets be dividedContinue reading