Wheaton, IL High Asset Divorce Lawyers

Skilled Divorce Attorneys Handling High Net Worth Cases in Wheaton, Illinois

Getting a divorce can be intimidating, especially when substantial property or assets are on the line. Some of these assets may be difficult to value, and questions about ownership can drag out the legal dispute. Furthermore, some spouses may be concerned about their standard of living after the marriage, which can spark discussions about alimony. If this describes your situation, consider working with a Wheaton high asset divorce attorney.

At Smit Zaruba P.C., we have over four decades of combined legal experience between our attorneys, and we leverage our knowledge to help our clients strategize in complicated cases. We will fight for a favorable result to your case, working toward a solution that aligns with your priorities.

What Makes a High Asset Divorce Different From a Regular Divorce?

A high asset divorce is often more complex mainly because there is more property to identify, value, and divide. The parties may own multiple properties, significant retirement accounts, investment portfolios, or complicated compensation like bonuses, stock options, and deferred pay. There may also be trusts, inherited assets, or separate property that has been mixed into marital accounts. In higher net worth cases, a large part of the work is determining what is marital versus non-marital, and whether any non-marital assets became marital through commingling.

Valuation is also a bigger issue. A basic appraisal of the marital home may not be enough when the estate includes business interests, investment accounts with restrictions, or assets that fluctuate in value. High asset cases often require professional appraisals or financial analysis so the parties are working from accurate numbers before negotiating a settlement or presenting evidence in court.

Dividing a Business in an Illinois Divorce

When a business is involved in a divorce, property division can become more difficult. If a business interest was acquired or created during the marriage, it will usually be treated as marital property, even if only one spouse operates it day to day. If the business existed before the marriage, the court may still consider whether part of its increased value is marital due to marital labor, marital funds, or other contributions.

Dividing a business usually starts with valuation. Depending on the company, that may involve reviewing financial statements, tax returns, cash flow, debts, and contracts. Courts may also consider goodwill, and whether it is tied to the business itself or to the owner's personal reputation. That issue can affect the final value.

In many divorces, the business is not split into two separate companies. Instead, one spouse keeps the business, and the other spouse receives other assets, a buyout, or structured payments. The goal is to reach a division that is fair without damaging the business's ability to operate.

How Does Alimony Work in High Net Worth Divorces?

Illinois has guideline calculations for spousal support, but those guidelines apply only up to certain income limits. In higher income cases, support often requires a more individualized analysis. The court looks at factors such as the standard of living during the marriage, each spouse's income and earning capacity, the division of marital property, the length of the marriage, and each spouse's needs.

The standard of living is often a major issue. Support is not meant to punish one spouse or reward the other. It is meant to address demonstrated need and to account for the economic realities created by the marriage and the divorce. In long-term marriages, or where one spouse stepped away from career growth, support may be higher or last longer than people expect.

Contact a Wheaton, Illinois High Asset Divorce Attorney

At Smit Zaruba P.C., we have the right skillset to advocate for you in a high net worth divorce. Call 630-480-7600 or contact our Wheaton, IL high asset divorce lawyers to schedule a consultation.