Pesce Law Group, P.C.

FREE CONSULTATIONS 630-352-2240

Naperville | Oak Brook | Burr Ridge | Lake Forest | St. Charles

Naperville Attorneys Protecting Investments and Assets

Investment and Asset Lawyers in DuPage County

One of the salient elements of a complex property division is that the parties themselves can determine the nature and characterization of property, at least to a certain extent. So, it is largely incumbent on the spouses to protect investments and assets by carefully segregating marital property and deftly employing marital agreements. An attorney can then use legal arguments to emphasize key evidentiary points and produce results that, in many cases, may exceed your expectations.

At Pesce Law Group, P.C., we understand that property has both an emotional and a financial value, and the former may well exceed the latter. We work hard to help ensure that non-marital property is exempt from division, and that marital assets are divided in an equitable matter for both spouses in divorce.

Guarding Investments

Commingling is one of the greatest threats to non-marital investment property. For example, a wife may have had an investment portfolio for years before the marriage, but over time, money filters in from both a joint account and her husband's separate account. Or, a husband may have bought a car prior to the marriage, and he uses his paycheck, which is a marital asset, to make the payments. In both these cases, the contributing estate may have a claim for reimbursement.

Reclassification is far from certain. In these cases, courts typically require clear and convincing evidence. Many times, there may be an applicable marital agreement, or the account may have been a mere conduit--the money may have only temporarily migrated. In addition, there are also important time deadlines to consider.

Fixed Assets

Many people, typically by accident, may transmute an asset. For example, a husband may title a car in his wife's name, because she has a better driving record and can get less expensive insurance. Or, a wife may name her husband as the account manager, since he is an accountant. In both these situations, the short-term benefit has immense long-term consequences, because both the car and investment portfolio have arguably been transmuted from non-marital to marital property.

The same defenses often apply. If you have separate assets you want to protect, regardless of their kind or character, it is always best to have a solid marital agreement on the subject.

A divorce property settlement does not necessarily involve reclassification of assets, but the two often go together. For a free consultation with an experienced marital property rights attorney, contact Pesce Law Group, P.C. at 630-352-2240. We provide legal representation in DuPage County and nearby jurisdictions.

Related News

Read More
How is Ownership of the Family Pet Handled in an Illinois Divorce?
How is Ownership of the Family Pet Handled in an Illinois Divorce?If you are an animal lover, you may have serious concerns about what will happen to your pet after your divorce. For some divorcing couples, deciding who gets to keep the family pet is easy. If one spouse was the main caretaker of the pet...
What is Parental Alienation and How Can It Affect My Custody Case?
What is Parental Alienation and How Can It Affect My Custody Case?Unmarried and divorced parents have a legal right to parenting time with their children. However, if the court finds that a parent’s involvement in a child’s life puts the child in danger or has a negative effect on his or her wellbeing, the parent can...
What Does the “Discovery” Process Involve During an Illinois Divorce?
What Does the “Discovery” Process Involve During an Illinois Divorce?If you have decided to divorce and started the process of researching your options, you may feel as if you are being bombarded with unfamiliar legal terms. Many people who divorce have never been involved in a legal dispute or even stepped foot inside of...
Back to Top