Bloomingdale, Illinois High Asset Divorce Lawyers

Attorneys Assisting With High Net Worth Divorce Cases in Bloomingdale

Client-Centered Divorce Representation

Mr. Mevorah is very professional and persistent.

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Real Estate and Property Holdings

You may own multiple types of complex assets, including real estate property. This may include your primary residence, vacation homes, rental properties, or undeveloped land. Each property must be appraised to ensure that its current fair market value is fully understood. You will then need to make decisions about how different properties will be handled as you divide your marital assets.

Options for dividing real estate include an outright sale with division of proceeds or a buyout in which one spouse will retain ownership of a property and compensate the other spouse for their share of the equity. Our lawyers can advise you on the available options and make sure the right steps are followed when selling a property, refinancing a mortgage, or removing one spouse from a property's title.

Vehicles, Watercraft, and Recreational Assets

Luxury vehicles, collector cars, motorcycles, boats, and aircraft may need to be addressed in a high asset divorce. The standard estimates used to determine the value of a vehicle may not be appropriate when addressing these high-value assets. You may need to work with certified appraisers who understand the specialty markets for these items while addressing depreciation schedules, storage costs, maintenance expenses, and other factors.

Valuables: Art, Jewelry, Collectibles, and Luxury Items

You may own personal property with a substantial value, such as fine art, antique furniture, wine collections, jewelry, watches, and other collectibles. These items can be worth tens or hundreds of thousands of dollars, and they will need to be addressed when negotiating a property settlement. Appraisals by qualified professionals can be essential. Our attorneys can help ensure that valuables will be appraised accurately and accounted for in your divorce settlement.

Financial Accounts and Investment Portfolios

Bank accounts, brokerage accounts, mutual funds, stock portfolios, and other financial accounts that you have accumulated during your marriage may need to be addressed when dividing assets. These accounts can be complex, and in many cases, dividing investment accounts is not simply a matter of splitting the balances between spouses.

The tax consequences of liquidating certain holdings, the vesting schedules involved in equity compensation, and other factors may need to be considered. When dividing retirement accounts and benefits, you may need to use specific types of court orders to prevent taxes and penalties from being assessed. Our lawyers will work with financial professionals to analyze the value of each asset and determine how to divide assets fairly while minimizing taxes.

Business Interests and Valuation

If you and/or your spouse have an ownership interest in a privately held company, a professional practice, or another type of business, you will need to determine how to address business assets during your divorce. A business valuation will usually need to be performed by working with a certified valuation analyst who can analyze the value of business assets, the revenue generated, expected growth, fair market value, and other factors.

When dividing business assets, you will generally have three options. One spouse may buy out the other spouse's share of the marital interest in the business using cash, a structured payment arrangement, or other marital assets as an offset. You may agree to sell the business and divide the proceeds. If both spouses have been actively involved in the business, you may agree to co-own the business after your divorce. Our attorneys can help you understand the value of your business interests, evaluate the tax consequences of different division strategies, and negotiate an agreement that will protect your financial interests.