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Schaumburg high asset divorce attorney

In any divorce, there are a wide variety of complicated issues that must be addressed and resolved, and disputes over child custody, child support and property division can make emotions run high. However, there are some divorce cases that have all of these issues and even more. High net worth divorces can be extremely complex, since they will have the same issues as any other divorce, along with additional factors that can make resolving these cases more challenging. These factors may include:

The Scope of Assets

Typically, there are many assets in a high net worth divorce, and determining how to divide marital property can be difficult, especially when this property includes assets such as real estate, investments and retirement accounts. An asset acquired before the marriage will typically be considered separate property that is not divided during the divorce process. However, if a non-marital asset appreciated in value during the marriage, the courts may view this appreciation as marital property. Determining what assets are considered marital property and how to divide them fairly and equitably during divorce can be a complicated undertaking. 

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Palatine divorce attorney, valuing assets, high net-worth divorceA complex divorce tends to center around conflict and is related to two key issues — parenting responsibilities and property division. Both parties have a lot at stake and are invested in each matter. Hence, each party has much to lose if the outcome is not in his or her favor.

Specifically, with regard to property division, the number and type of property that is potentially subject to division can require a complicated analysis to determine if the property qualifies as marital and what the likely value is for that property. While one spouse may think he or she has a complete picture of all the property owned by the other party, analyzing and verifying the information listed in the mandatory financial affidavit must serve as the starting point for division.

The issue of property valuation is particularly important in divorces where considerable wealth has accumulated during the marriage. Securing proper valuations of all marital assets is crucial to ensuring that the division of property is fair and will provide the income/financial resources as intended.

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