Understanding the Elements of a Complex Divorce 

 Posted on February 24, 2023 in Divorce

Just like no two people are the same, no two divorces are the same. While most divorces are difficult for everyone involved, complex divorces, as the name implies, are usually especially complicated. A complex divorce is often a term used to describe a divorce case that may involve high-net-worth individuals, business owners, or couples with complicated assets and finances. These cases often require highly knowledgeable divorce attorneys, as they involve multiple issues and can be time-consuming and emotionally draining. Today, we will discuss what is most important about complex divorces. 

Elements to Be Aware of in Complex Divorces 

Several elements can make a divorce complex, including the following:

• High-value assets – In a complex divorce, the value of assets is usually high. These may include investment portfolios, real estate holdings, retirement accounts, and business assets. Therefore, properly identifying and valuing these assets is crucial to ensure that property division is fair and equitable. It may also be necessary to hire financial professionals to help determine the value of certain complex assets.

• Business interests – Divorces involving business owners can be especially complex. The valuation of the business, the division of its assets, and the role of each spouse in the business are all factors that must be considered. Additionally, there may be issues with ownership and control that may need to be addressed.

• Alimony and child support -  In a complex divorce, spousal support and child support payments may be significant. Child support and financial support are calculated based on both spouses’ net incomes.  

• Tax implications – The division of assets and property can have significant tax implications. Therefore, it is important to consider the tax consequences of any settlement or agreement to ensure you are not left with an unexpected tax burden.

• Custody and visitation – In a complex divorce, custody, and visitation may be especially contentious. Try to always keep your child and their best interests in mind as you and your attorney navigate this subject.

Contact a Naperville, IL Complex Divorce Attorney

If you think your divorce will be complex, consider the skillful DuPage County complex divorce lawyers with Pesce Law Group, P.C.. Call 630-352-2240 for a free consultation.

Source:

https://www.forbes.com/sites/russalanprince/2014/12/01/getting-the-most-from-a-high-dollar-divorce/?sh=72f6c9807d66