Cary High Net Worth Divorce Lawyers
If you have significant assets at stake in your divorce, you must have an experienced attorney fighting to protect your future. At Vaclavek Hartman Vaclavek, we guide individuals with high net worth through divorce, leveraging our team's extensive family and estate law experience. With our Cary high net-worth divorce attorneys on your side, you can navigate your case confidently, knowing your best interests and goals are in the hands of highly capable professionals with an impressive track record of success.
Request a free consultation to discuss your divorce and how we can support you. Call (815) 507-8887 or connect with Vaclavek Hartman Vaclavek. Proudly, we serve clients across McHenry and Kane counties and nearby areas.
What Makes High Net Worth Divorces Challenging?
High net worth divorces frequently feature many of the same issues as other divorces but with more complex considerations.
Below, we explore some of the things that make these kinds of divorces so challenging:
Property Division
Dividing significant assets, from multiple homes and/or real estate investments to retirement accounts and business interests, can be difficult. Illinois courts follow an equitable distribution model, meaning assets are divided fairly and not necessarily 50-50. Determining what is "fair" can be highly contentious in a high net-worth divorce.
Property division may also involve complex valuations of assets and financial accounts, as well as tax implications. This can lead to disagreements about the actual value of assets and how they ought to be divided.
Alimony
In high-net-worth divorces, alimony (called "maintenance" in Illinois law) is often a major point of contention. The higher-earning spouse may feel that they should not have to pay a substantial amount in alimony or that their former partner does not require support because they have their own significant income and assets.
On the other hand, the lower-earning spouse may argue that they are entitled to the standard of living they enjoyed during the marriage and should receive a certain amount of financial support from their former partner.
Child Support
In addition to alimony, child support is another important aspect of divorce settlements. Courts typically determine it by accounting for each parent’s income, the number of children, and the custody arrangement. Child support aims to provide for a child’s basic needs, such as food, shelter, clothing, education, and healthcare. However, additional expenses such as extracurricular activities or special needs may also be factored into the calculation.
Prenuptial (or Postnuptial) Agreements
In some cases, couples may have a prenuptial or postnuptial agreement outlining how to handle assets, spousal support, and other matters in the event of divorce. Having an agreement can provide clarity and protection. However, they are not foolproof. Courts may still have the authority to disregard certain provisions if they are deemed unfair or unconscionable. Additionally, in some cases, these agreements may be challenged for reasons such as fraud or coercion.
Privacy
Privacy is an important consideration for couples going through a high-net-worth divorce. While sharing certain information with lawyers and the court may be necessary, it is important to protect sensitive financial and personal information from being publicly available. This can include details about assets, income, and expenses. Couples may enter into a confidentiality agreement as part of their divorce settlement to make certain their information remains private.
Some individuals with high net worth may also consider setting up trusts or transferring assets into separate entities to maintain privacy and protect assets during the divorce.
Trust Vaclavek Hartman Vaclavek to Handle Your High Net Worth Divorce
Navigating your divorce may feel overwhelming, but you do not have to go through it alone. Our Cary high-net-worth divorce attorneys are here to be by your side at every step.
We can help you:
- Preserve your assets - Our attorneys excel at identifying, valuing, and protecting assets in divorce. Whether you want to shield an inheritance, safeguard business holdings, or see that investments are properly divided, count on us to protect your financial interests.
- Minimize conflict - Divorces are notoriously emotionally taxing. We aim to resolve matters as amicably as possible by negotiating fair agreements and seeking mutually beneficial resolutions. If litigation is necessary, we are prepared to advocate fiercely for you in court.
- Maintain financial security - This will be of utmost importance. Expect us to provide strategic advice on spousal maintenance, child support, retirement planning, and tax liabilities so you can move forward after divorce with a clear plan for your future.
Do you want to learn more about our firm and how we can support you? Give us a call at (815) 507-8887 or submit our convenient online contact form.