What Is Considered a High-Asset Divorce? 

 Posted on August 26, 2026 in Divorce

A high-asset or high-net-worth divorce involves substantial property or complicated finances. No law sets a specific net worth that automatically makes a divorce "high asset." The term most often applies when a couple owns valuable real estate, businesses, significant investments, or other property that requires careful valuation.

A couple with a net worth of $1 million may face complicated financial questions, while another couple with a much higher net worth may own assets that are relatively easy to divide. The amount of money is important, but so is the type of property involved.

If you are preparing for a high-asset divorce in 2026, our Mt. Prospect divorce lawyer can protect your financial interests throughout the case no matter the size of your marital estate.

What Assets Are Commonly Involved in a High-Asset Divorce?

Illinois law requires the Court to classify property as marital or non-marital before dividing it. Under 750 ILCS 5/503, property acquired during the marriage is generally presumed to be marital property unless a spouse can show that an exception applies. Property owned before marriage or received individually through inheritance may qualify as non-marital property.

High-asset marital estates almost always involve more than a house and a few bank accounts. Often, they include: 

• Several pieces of real estate

• Substantial retirement savings

• A closely held family business

• Investment portfolios 

• Valuable collections

• Intellectual property

The first step in the process of asset division is figuring out what each spouse owns separately and what is in the marital estate. Unfortunately, as we shall see, this is often very difficult to do. 

Property Classification in High-Asset Divorces

A high-value asset does not become divisible in a divorce simply because one spouse owns it. 

For example, let’s say one spouse owned a successful business before getting married. The business itself may be non-marital property, yet that does not necessarily end the analysis. Marital money may have been invested in the company during the marriage and one spouse's work may have contributed to its growth. Determining, then, how much of the business is marital and non-marital can be hotly debated. 

A similar problem can arise with inherited property. An inheritance received by one spouse is generally non-marital, but the way the money was handled afterward can complicate the situation. If the spouse who inherited deposits the funds directly into a joint bank account, it can be difficult or impossible years later to separate what is personal from what is marital. 

Likewise, if the money is used as a downpayment on a home, which is then lived in by the whole family for two decades and paid off using both spouses’ incomes, the amount of the original downpayment may no longer be seen as personal property alone. 

High-asset divorces require detailed records because classification depends on where property came from and what happened to it during the marriage.

Valuing Assets in a High-Net-Worth Divorce

Illinois Courts divide marital property in "just proportions" after considering the circumstances of the marriage. The law directs the Court to consider each spouse's contribution to the marital estate and each spouse's economic circumstances. The Court may also consider future opportunities to acquire assets and the tax consequences of the property division.

A fair asset division, therefore, depends on knowing many things – not least of which is what an asset is actually worth. Many assets require appraisal by experts when spouses can’t agree about the value on their own or genuinely don’t know it. For example: 

• Real estate may require an appraisal. 

• A closely held business may require a professional valuation. 

• An apparently simple retirement account may include both marital and non-marital portions that need to be separated. 

• A valuable baseball card or vehicle collection may need each item individually appraised. 

Illinois law requires the Court to use fair market value when valuing property for division. The valuation date is generally the date of trial unless the parties agree on another date or the Court orders a different date. 

What if My Spouse Is Trying to Hide Assets in a High-Net-Worth Divorce?

High-asset cases can create more opportunities for financial secrecy. In the earlier example of a spouse who owns a business, that spouse may have access to information the other spouse never sees or knows about. Money may be secretly moved between accounts or transferred to someone else. A spouse may also report that a business suddenly became less profitable shortly before divorce.

The discovery process in divorce allows attorneys to request financial information and require sworn answers to financial questions. If one spouse is concerned that the other spouse may be hiding money, a divorce attorney can carefully dig into financial disclosures and other forms to find out whether everything adds up. 

Illinois law also allows the Court to consider dissipation when dividing marital property. Dissipation involves using marital property for a purpose unrelated to the marriage after the relationship has begun undergoing an irretrievable breakdown. If one spouse improperly spent marital money, the Court may account for that conduct when dividing what remains.

Can We Divide High-Value Property Without Going to Court?

Many high-asset divorces are resolved through negotiation and this approach is usually the best whenever it is available. Spouses have much more flexibility in a negotiated settlement than they would receive from a Judge. Reaching an agreement also gives both spouses more control over their personal and financial privacy. A contested trial may require detailed financial information to become part of the Court proceedings.

However, a settlement does not necessarily mean agreeing quickly and it certainly doesn’t mean accepting an unfavorable division. High-value assets should still be properly valued and categorized before either spouse agrees to a final property settlement.

Once property division becomes part of a final marital settlement agreement, Illinois law generally does not allow those provisions to be modified later. Careful review before signing is especially important for high-asset estates. 

Call a Mt. Prospect, IL Divorce Attorney Today

A high-asset divorce requires careful preparation because mistakes can have major long-term financial consequences.

The Rolling Meadows, IL divorce lawyer at The Law Office of Nicholas W. Richardson, P.C. can help you understand what belongs in the marital estate and work toward a fair division of your property. Our firm is prepared to negotiate when possible and litigate when necessary.

Call The Law Office of Nicholas W. Richardson, P.C. at 847-873-6741 to schedule a free consultation.