DuPage County High Net Worth Divorce Attorneys

Skilled High Net Worth Divorce Lawyers in Oak Brook, IL

In divorce, each party has valuable assets that should be protected, almost at all costs. These issues are magnified in a high net worth action. Many times, the known assets at the beginning of the process may only be the tip of the iceberg, as a spouse may have concealed property under another name or in a different location. Sometimes the reverse is true, and a spouse may seek an unequal property division without a proper legal basis. In either situation, the spouses' interests are essentially the same: keep as much as possible while giving as little as possible. This is not selfishness; this is economic reality.

Pesce Law Group, P.C. works hard to help equitably divide marital property so that the divorce is not an undue financial burden on either spouse.

Legal Issues

The first step to dividing property in a high asset divorce is typically a proper valuation and classification of all the items that comprise the marital estate. Sometimes, this inquiry involves hidden assets. To find this property, meticulous attorneys look for telltale clues, such as subtle and unexplained balance changes or stray articles of incorporation that were tucked away in the back of a file folder. If necessary, a lawyer can partner with a financial professional to perform an asset trace or even a forensic accounting.

Conversely, an attorney has several options to protect investments and assets. Sometimes, these items may be classified as non-marital property, either in whole or in part, and thus exempt from division. Other times, a setoff may be appropriate. For example, a spouse may accept additional spousal support in exchange for relinquishment of rights in a retirement account.

Procedural Matters

During discovery, our attorneys are determined to procure as much information as possible while disclosing as little information as possible. The lawyers on the other side typically assume the same posture. A thorough attorney can employ both relevant facts and applicable legal precedents to accomplish both these goals.

Our attorneys can support you through carefully considered deposition questions, trying to extract the most information possible from limited questions. We will work to uncover important financial documents to help you get a better estimate for the value of your marital estate in your divorce, such as tax returns and bank statements.

Protecting Yourself From Dissipation

When one spouse ruins, hides, or frivolously spends marital assets for their sole benefit, the act is referred to as dissipation. If you have been the victim of dissipation, you may have legal recourse to get fair compensation. A skilled divorce attorney can help you bring forward evidence of wasted assets and argue for your right to compensation. However, keep in mind that dissipation claims are constrained by time limits that go into effect when you knew or should have known about the alleged waste of marital assets. Some examples of dissipation include:

• Buying gifts for an affair partner
• Intentionally wrecking a vehicle
• Putting money into a hidden account

In your dissipation claim, you should be able to identify what marital assets were wasted. At Pesce Law Group, P.C., we can support your case with thorough forensic accounting.

Contact an Oak Brook, Illinois Divorce Lawyer Today

Going through a high net worth divorce can be stressful, especially if there is valuable property at stake. To mitigate risk and navigate the legal proceedings efficiently, working with an Oak Brook, IL high asset divorce attorney is highly advisable.

If you have assets to protect, or you feel that your spouse may be withholding information about certain assets, contact Pesce Law Group, P.C. for a free consultation at 630-352-2240. We limit our practice to family law in DuPage County and neighboring jurisdictions.