Palatine high asset divorce lawyer

When celebrities go through a divorce, everyone talks about the settlements. These high asset divorces are interesting because of the extraordinary dollar amounts in the millions and billions. For example, Jeff Bezos, the CEO of Amazon, gave up a quarter of his shares in the company to his ex-wife, and he is still the most wealthy man in America. Celebrity divorces are in the news a lot, but it does not take a famous person to have a high asset divorce.

Division of Marital Assets

In traditional gender roles, a man may have taken control of the finances. However, in modern times, there are more households with dual incomes where spouses share equal financial responsibility. Financial matters between a couple can be a breaking point in a marriage. Money is a major stressor in a relationship and is one of the leading reasons people choose to get a divorce. Studies show that the larger the difference between a couple‚Äôs credit scores, the more likely their marriage will end in divorce within five years. 

With more money coming into a marriage, there are more assets to split during a divorce. No matter how much money either party makes, Illinois law states that assets should be split using equitable distribution. This means that all assets are divided fairly, but not necessarily equally. Factors such as the length of the marriage, the standard of living, and the health of the individuals will be considered. Because there is a lot at stake, here are some common mistakes to avoid during a high asset divorce:

Contact a Palatine High Net Worth Divorce Lawyer

A divorce can be a complicated process, regardless of the circumstances. When spouses have a high net worth, hiring an attorney is the only way to ensure a fair split. If you are considering filing for divorce, it is important to seek professional legal advice so you can receive what is rightfully yours. Contact an experienced Schaumburg divorce attorney at Anderson and Associates, P.C. to discuss your options during a high asset divorce. Call our office today at 847-995-9999 to schedule a free consultation.

 

Sources:

https://www.cnbc.com/2018/10/10/being-rich-may-increase-your-odds-of-divorce.html

https://www.businessinsider.com/jeff-bezos-mackenzie-bezos-divorce-finalized-2019-4