High net-worth divorces are much more complex proceedings than those involving couples of more modest means. If you have substantial individual or marital assets and are considering or entering into divorce proceedings, it is imperative that you select an Illinois divorce attorney who has experience handling high-asset and complex divorces, as opposed to solely standard family law practice. Not all family law attorneys are well-versed in the financial complexities and nuances relevant to high-value asset divorces. Our high-net worth divorce attorneys have both the financial and legal know-how to navigate the intricacies of equitable asset division for couples with sizeable wealth.

What Makes High-Asset Divorces Unique?

The obvious reason that high-asset divorces are unique is that they involve more property division decisions. Some of the issues that often come into play in complex divorce cases include:

When a divorce is finalized, the parties are typically relieved to know that the disputes have been resolved, at least legally, and that they have a final order on which to rely when making decisions about issues such as parenting time, spousal and child support. The parties generally feel some measure of closure as divorce proceedings wrap up, even when they did not get everything they sought or had to make some compromises along the way. However, it is possible to modify a decree in Illinois. As such, if you are seeking to modify the terms of your divorce decree, an experienced family law attorney can help you navigate the process.

Disparate Circumstances Can Lead to Conflict Over Divorce Terms

A divorce is meant to be final. The truth is, however, that people's circumstances do sometimes change, and the terms of a divorce decree may no longer be fair and just, given the change in one party's financial standing, for instance. Unfortunately, conflict typically stems from the parties' disparate positions. While one party has experienced a life change of one sort or another and feels the divorce terms are no longer suitable, the other party often resists any changes to the divorce decree and clings to the feeling of finality and closure it brought at that time.

Many Illinois couples choose to utilize the mediation process to come to an agreement during divorce proceedings. In some cases, the court may actually mandate that a couple spends time with a neutral mediator before asking the court to ultimately decide the terms of a divorce. No matter the reason for choosing mediation, there are many benefits, though mediation is not appropriate under all circumstances.

Your divorce attorney in the Wheaton area can help you weigh your options when deciding how best to proceed with your divorce dispute resolution.

Mediation Advantages

If you have a divorce decree, parenting plan agreement, or spousal or child support order in place, it can be incredibly frustrating – even infuriating – when your former spouse or partner does not live up to his or her part in the agreement or court order. Fortunately, an experienced family law attorney in Illinois can help you seek compliance from your ex.

When Your Ex Refuses to Comply or Cooperate with a Court Order

The entire purpose of going through the initial settlement or litigation process was to obtain an official arrangement so that all parties can move forward. Yet, when one spouse or partner refuses to comply, it can make all the previous time and expense spent finalizing the divorce or parenting plan seem wasted. This, however, is not the case.

Divorces can be complicated, and when you believe your spouse is hiding high-value assets to prevent the court from seeing the whole picture in terms of your family's finances, the proceedings can get that much more complex. Hidden assets can directly affect the outcome of your divorce and must be addressed immediately.

If you have reason to suspect your spouse of hiding assets from the court, it is a good idea to consult with an experienced family law attorney right away. Your Wheaton family law attorney will have experience locating hidden assets, persuading spouses to be more forthright with the court, and holding difficult or dishonest spouses accountable for hiding information necessary to gauge how the marital assets should be divided.

What Is a Hidden Asset under Illinois Law?