Naperville, IL Attorneys Protecting Investments and Assets

Knowledgeable 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.

How Can I Protect My Investments During an Illinois Divorce?

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.

What Are 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.

How Equitable Distribution Can Affect Investment and Asset Division

When a divorce goes to court in Illinois, the judge will always divide your marital estate in the fairest way possible. Your marital property may consist of unconventional or complex assets, like your stock portfolio or your retirement assets. The judge will consider your economic circumstances as well as your spouse's, factoring in your ability to seek employment and stay afloat after your divorce. The judge can also consider other factors, like whether or not alimony was awarded or if any assets were dissipated. Since Illinois is a no-fault divorce state, factors like cruelty or infidelity will not be considered in dividing your assets.

The judge's interpretation of fairness may not align with your wants or needs. If going to court does not appeal to you, you could try reaching a property settlement with your spouse instead. Our lawyers can advocate for your needs no matter which route you decide to take.

Reach Out to a DuPage County, Illinois Investment and Asset Lawyer

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