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
Which Parent Pays a Child’s College Tuition After a Divorce?
Which Parent Pays a Child’s College Tuition After a Divorce?The cost of college tuition continues to rise in the U.S. In fact, for the 2020-2021 school year, the average cost of tuition and fees was $41,411 for private colleges, $11,171 for state residents at public colleges, and $26,809 for out-of-state students at state schools....
Tips for Divorcing Someone With Substance Abuse Problems
Tips for Divorcing Someone With Substance Abuse ProblemsSubstance abuse is one of the most common reasons why couples get divorced. When one spouse suffers from addiction, it can affect his or her ability to keep a job and take care of the children. If your spouse is addicted to drugs or alcohol,...
Can You Get Your Marriage Annulled in Illinois? 
Can You Get Your Marriage Annulled in Illinois? If you believe that your marriage was a mistake, you may be considering getting a divorce. However, you may qualify for an annulment in Illinois. An annulment or "Declaration of Invalidity of Marriage" allows two partners to legally exit a marriage that is deemed fraudulent...
Back to Top