Helping You Get Your Fair Share Of Property In A Divorce
During the course of your marriage, you and your spouse accumulated property, assets and debts. Most marriages involve a marital home, a car or two, shared bank accounts and retirement accounts. For couples with a high net worth, the types of property and assets increase, as does the value of the items.
At the law firm of Di Giacomo & Somers L.L.C., our divorce and family law attorneys have extensive knowledge handling high net worth divorce for clients in and around Northfield and Chicago, Illinois. Many of our clients also come from Winnetka, Glenview, Lake Forest and Arlington Heights. Our attorneys have more than 110 years of combined legal experience and are skilled at litigation, collaboration and mediation.
How Is Marital Property Divided In Illinois?
Illinois is an equitable distribution state. This means that your property will not necessarily be divided 50-50. The court weighs factors set out in the law when considering the division of marital property such as each party’s contribution to the marriage, the value of the property, the length of the marriage and the relevant economic circumstances.
It is important to have an attorney who understands not only divorce law, but also how to obtain a valuation of your assets. Specifically, valuing and dividing pensions, and other retirement assets, is complicated. At Di Giacomo & Somers L.L.C., our lawyers have a substantial understanding in dividing complex and high-valued assets.
Business Valuations And Divorce
When a business is part of a divorce — whether it is owned and operated jointly by you and your spouse or one of you operates it with little input from the other — it’s value must be accounted for like any other marital asset. The best method of valuating a business can depend on a number of factors, such as what type of business is it? What are the plans for the business after the divorce? What do you want to see happen to the business? Our attorneys are experienced in this area of property division and can advise you on the best options for you.