High Net Worth Divorce Attorney
Couples with a high net worth or complex assets must take extra care when they divorce. Whether each party has a high income or one spouse supports the career of the other, it is important to protect your rights in a divorce.
At The Barhaugh Law Firm, P.C., we have the experience to value and divide complex assets. We can also protect your interests regarding spousal support, child custody and child support. It is best to speak with an attorney as soon as possible so we can begin the process of valuing and protecting assets. Please call our office at 630-689-1778 to schedule a free consultation.
Complex Asset Division And Spousal Support
The accurate valuation of marital assets is a crucial part of a high net worth divorce. We often work with forensic accountants, appraisers and financial experts during this process. Types of assets in a high net worth divorce may include:
- Businesses and professional practices — We work with the necessary experts to value businesses prior to asset division.
- Retirement accounts, IRA and pensions — We obtain a Qualified Domestic Relations Order (QDRO) to avoid tax penalties for early disbursement when dividing these accounts.
- Investments, stocks and bonds — When applicable, we work with financial experts to value and divide these assets fairly.
- Vacation property — We can assist you with property in Illinois or out of state.
In addition to the division of assets, we can help locate any hidden assets. When necessary, we will file a temporary financial restraining order to prevent your spouse from transferring or wasting assets.
Illinois does not have a statutory formula for calculating spousal support, so it is important to have an attorney protect your interests. We have represented working spouses as well as those who do not have careers and we understand the need for support to provide an equalization of income. However, we also know that support must be fair to both parties.