Common Concerns in a High Asset Divorce

 Posted on February 14, 2025 in Division of Assets

If you and your spouse have substantial wealth tied up in your marital estate, the prospect of divorce might keep you up at night. Negotiating for a fair settlement in a high asset divorce requires a careful examination of your marital estate. An experienced Illinois divorce attorney can represent your best interests in and outside of court, fighting to protect your property.

At Pesce Law Group, P.C., we know how high the stakes can be in your divorce. When you work with our firm, we will provide you with legal counsel to help you safeguard your assets. Our attorneys have years of experience handling complex financial matters for spouses going through high-net worth divorces.

The Discovery Process

Discovery is the legal process of identifying all the assets in your marital estate, which is especially important if you have a lot of wealth pooled together in your marriage. This could include your shared bank accounts, real estate, vehicles, retirement accounts, or other valuable items like jewelry. During this process, you and your spouse can ask each other questions in writing about your assets, known as interrogatories.

An attorney can guide you through the discovery process and send out a Notice to Produce on your behalf if you want to see your spouse’s financial records. If you suspect that your spouse is concealing or wasting assets, your lawyer can help you file a dissipation claim to make sure you are getting your fair share.

Shared Businesses

A business in a high asset divorce may have to be divided depending on its status as either marital or non-marital property. If you started your business prior to getting married, you might have a strong claim to it as your own separate property. However, if your spouse made any contributions to the business through labor or joint funds, it could be considered marital property.

Regardless of whether your spouse has a claim to your business, the business will still have to be valued. At Pesce Law Group, P.C., we work with a professional network of business valuators and accountants who can give you an accurate appraisal of your company.

Retirement Accounts

If you have saved up a lot of money in retirement accounts over the course of your marriage, your spouse may have a claim to it as marital property. Dividing up a retirement account is not as simple as taking the money out of the account and giving it to your spouse. Instead, the court may use a QDRO, or qualified domestic relations order. This order lets you transfer funds from your account without any tax penalties.

A family law attorney at Pesce Law Group, P.C. can advocate for a fair split of your retirement accounts, fighting for your right to financial security.

Meet With a Naperville, IL High Net Worth Divorce Attorney Today

A high asset divorce should not be handled with haste. A skilled DuPage County, IL divorce lawyer at Pesce Law Group, P.C. can sit down with you to discuss your options and work towards a favorable outcome. To schedule a free consultation, call our offices at 630-352-2240 today.