If you are planning to file for divorce in Illinois, you know that you are facing a potentially complex and lengthy process, especially if there are significant wealth and assets at stake. A high-asset divorce is often a high-conflict divorce, but there are steps that you can take to ensure that you do everything possible to protect your financial interests.
Even before you file for divorce, you would be wise to take certain steps to prepare for what is ahead. One of these steps is to simply seek a full understanding of your rights and legal options. When you understand your property rights, you can more effectively pursue what is rightfully yours while avoiding unnecessary conflicts.
Finding and valuing assets
In order to ensure that your final property division is fair and provides you the opportunity to have a secure, strong future, it is imperative to locate and appropriately value all marital property. This includes the following assets:
- Primary residences and vacation properties
- Rental properties
- Business assets
- Retirement savings and accounts
- Collectibles, jewelry and artwork
Essentially, marital assets are any asset earned, obtained or purchased over the course of the marriage. In some cases, a spouse may attempt to hide certain assets in order to keep full ownership of them. If you suspect that your spouse is attempting to hide assets or prevent you from securing your fair share of marital property, there are steps you can take. With help, it is possible to locate all marital assets to which you have a rightful claim.
Fighting for control of your post-divorce life
One consideration for you as you navigate the challenges of a high-asset divorce is the protection of your private information. Many people don’t know that during a divorce, it is quite possible your financial information could become publicly accessible. Thankfully, there are steps you can take to protect yourself against losing control of these details. From the very beginning of the divorce process, you would be wise to work to keep private information and details in the right hands.
In a high-asset divorce, your financial future is on the line. It is smart to take specific steps to seek an equitable distribution of all marital property, but this is not a battle you have to fight alone. In fact, many people find that they greatly benefit when they have experienced legal guidance from the very beginning. Your legal ally can help you fight for a beneficial settlement and security after divorce.